Deep Research Reports: In 2014, the Americas retained the top position as the largest market for luxury hotels closely trailed by Asia-Pacific. About 5,200 new high-end hotels are expected to open in 2015. Key Findings The US is the leader in the luxury hotels market in terms of both revenues (US$46.6 billion in 2014 equivalent to 27% share) and number of rooms available (303,320).
Japan topped the list in terms of occupancy rate (90.9% in 2014) while Hong Kong recorded the highest average (room) revenue per available room (RevPAR) with a value of US$354 in 2014. Mexico recorded the highest number of guests in 2014 (29.2 million) while the UK recorded the fastest growth during the historic period (2010-2014). France was the fastest growing market in terms of rooms available and revenues. Belgium was the fastest growing market during the historic period in terms of RevPAR.
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TShanghai is a leading MICE destination in China, backed by infrastructure and the presence of historical and cultural attractions. At present, luxury hotels in the city generate 13% of their revenues from MICE events. With Chinese economic growth slowing, there has been a decrease in demand from financial institutions.
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Detailed region-wise (Americas, Asia-Pacific, Europe, Middle East and Africa) analysis of budget hotels’ key performance indicators such as the number of hotels and rooms available, occupancy rates, room nights available, room nights occupied, number of guests received, average room revenue per available room, average room revenue per occupied room, average total revenue per available room, total room revenue, total non-room revenue, total revenues for the historic (2010-2014) and forecast (2015-2019) periods.
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