Luxury Hotel Furniture Market 2019-2025
New Study Reports "Luxury Hotel Furniture 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025".
The luxury hotel industry is fast growing and is considered one of the most important customer service markets. These luxury hotels offer the best ambience and service to their clients. Depending on the star status of the hotel its facilities vary. The luxury hotel furniture market is a direct result of the increasing numbers of luxury hotels worldwide. This market includes furniture used in common areas like lobbies and gardens and furniture like wardrobes, cot, side tables and dining tables used inside the rooms.
The luxury tourism industry is dependent on customers who readily spend money on services that pamper and make them feel special. With the economies of all top countries booming and people having more disposable income to spend, the need for luxury hotel furniture in top resorts, hotels, restaurants, and other boarding and lodging properties has increased. The fact that governments are spending a lot of money on tourism development is also a positive factor to note.
The global luxury hotel furniture report is an amalgamation of all important factors that affect the growth of this industry. This report talks in detail about various factors like revenue, market growth, market share, CAGR and sales of this particular industry. This market is valued at USD 171100 million in the year 2018 and this is projected to grow to USD 241800 million in the year 2025. The CAGR predicted by the report for the years 2019 to 2025 is 4.4%.
Important Key Players Analysis: Marriott International, Hilton, Starwood Hotels & Resorts (Marriott), Hyatt Hotels, Four Seasons Holdings Inc., Shangri-La International Hotel Management Ltd., InterContinental Hotels Group PLC, Mandarin Oriental International Limited, The Indian Hotels Company Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., ITC Hotels Limited and more.
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There are four types of hotels or lodging where there is a need for products from the luxury hotel furniture market. Business, suite, airport and resort hotels and their potential need for luxury furniture are clearly explained in the report. The report also talks about the different models of furniture that are in demand at present and those that will be in demand in the future. Based on the applications or areas of usage, the report segregates the market into rooms, F&B, Spa and other areas where luxury furniture is needed. The report also talks about the top five key players, who together hold about 26.37% of the market share.
Amongst the top regions that are covered for analysis by the luxury hotel furniture market report, the United States of America is projected to be the top consumer. It held a market share of 35.71% in the year 2013 and 32.05% in the year 2017. China and Europe were also top players in the market and had a market share of 18.58% and 17.28% respectively in the year 2017. The growth prospects of these regions are discussed in detail by the report and the submarkets created are also mentioned. The report deals with export and import numbers that these regions will hold in the forecasted period too.
Key Stakeholders Luxury Hotel Furniture Manufacturers Luxury Hotel Furniture Distributors/Traders/Wholesalers Luxury Hotel Furniture Subcomponent Manufacturers Industry Association Downstream Vendors
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The London Design Festival 2019 that happened between the 14th and 22nd of September saw some of the most beautiful and unique luxury hotel furniture displayed. Different kinds of recycled furniture, nature-friendly pieces, and biophilicfurniture were on display in the event.
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