Market Size of United States Luxury Hotel Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 73.10 Billion |
| Market Size (2029) | USD 93.83 Billion |
| CAGR (2024 - 2029) | 5.12 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Luxury Hotel Market Analysis
The United States Luxury Hotel Market size is estimated at USD 73.10 billion in 2024, and is expected to reach USD 93.83 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
The United States has a booming luxury hotel business. The influx of international tourists and domestic tourist movements are anticipated to increase as there are a rising number of international sporting events, trade shows, and exhibitions. The expansion of the travel and tourist sector and shifting standards of living have fueled the market trends for luxury hotels to increase steadily.
The increased desire for luxurious stays with family or facilities offered for upper management executives during business tours supports the growth of the luxury hotel market in the United States. Also, the emergence of online booking services has accelerated market growth.
The increasing availability of lodging packages with deluxe rooms and high-end services attracted many guests to extend their stays, which boosted revenue generation. The rising adoption of advanced technology in offering facilities like free WiFi and intelligent bathrooms attracts guests. Therefore, these factors contribute to the market growth in the United States.
