About Five Star Hotel
As India is contributing high in the tourism industry. According to IBEF, the tourism & hospitality industry in India is directly contributing to India's GDP flowed by 23.6% was in 2017, and also tourism in India covered for 9.4% of the GDP. It includes revenues from restaurants and banquets. Usually, the revenues from F&B division are about 35-40% of the total hotel revenues. It depends on various factors such as occupancy rates of the property, size of banquets and conferences, connectivity and technology in the banquet area, hotel location, etc.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are operating in this market in a new geographic region by adopting various growth strategies such as mergers & acquisitions, expansions, investments, and joint ventures. The major market players are discovering new areas through expansions and acquisitions across the globe to become more competitive through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Five Star Hotel market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Marriott International (United States), Hilton (United States), Hyatt Hotels (United States), Four Seasons Holdings Inc. (United States), Shangri-La International Hotel Management Ltd. (Hong Kong), InterContinental Hotels Group PLC (United Kingdom), Mandarin Oriental International Limited (Hong Kong), Tata Group (India), Jumeirah International LLC (United Arab Emirates) and Kerzner International Limited (The Bahamas) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ITC Hotels Limited (India), Novotel (France), Radisson Hotels (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Five Star Hotel market by , Application (Business Traveller, Leisure Travellers, Airline Cabin Crew and Others) and Region.
On the basis of geography, the market of Five Star Hotel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channels, the sub-segment i.e. Travel Agents will boost the Five Star Hotel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Themes, the sub-segment i.e. Ecotel will boost the Five Star Hotel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Hotel, the sub-segment i.e. Business Hotel will boost the Five Star Hotel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology advancement in distribution models, such as the advent of digital technologies in booking and marketing activities. High adoption of social media helps hotel providers in advertising and other services
Market Growth Drivers:
High Growth in Tours and Tourism Industry, Growing Demand for The Leisure Travel and The emergence of Luxury Hotels
Challenges:
High Initial Investment Required for The Five-Star Hotel and Difficulty in Government Approvals and Licenses
Restraints:
The slowdown in Economy, Along Rising COVID-19 Issue Is Highly Impact on International Tourism Industry for a Year and Rising Land Availability Issue and Cost Issues
Opportunities:
Advancement in the hospitality industry is one of the key industries behind the high growth of the services sector. This shows strong growth potential across the globe, majorly in the South Arabia region. With the increased funding of government in hospitality and facility management is generating huge opportunity for luxury hotel companies.
Market Leaders and their expansionary development strategies
In December 2020, Oberoi Realty announced that Evenstar Hotels (Evenstar), a wholly owned subsidiary of the Company, has purchased and taken possession of a hotel property (together with appurtenant rights, proportionate interest in common areas, and conveniences) situate at Dr. Annie Besant Road, Worli, Mumbai, for a consideration of Rs. 1040 crore.
In April 2024, Royal Orchid Hotels has plans to launch three new brands including a new upscale five star brand for which it signed a new 300-rooms hotel at Mumbai International airport, which is its largest yet. The other two brands will be introduced as smart basics brand and a boutique brand.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Five Start Hotel Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.