About Luxury Hotel Design
The global luxury design market is expected to rise in the coming years due to the changing standards of living of people around the world and demand for comfort and luxury stay. The luxury facilities such as in house-spa, clubs, the garden is technologically advancing. The travel destination like a mountain, beach places are boosting the luxury hotel design market, as they are most demanded by people across the world due to nature and a peaceful environment. However, the global luxury design market is being hit by the coronavirus crisis, as restrictions have been imposed on international as well as national travel and tourism. But the hospitality and design market is expected to regain its position once the crisis slows down with proper planning and deft execution.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Hotel Design 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.
Design Hotels AG (Germany), Hirsch Bedner Associates (United States), Rockwell Architecture (United States), Gensler (United States), Wilson Associates (United States), Forrest Perkins LLC (United States), Stonehill & Taylor Architects (United States) and Blacksmith Interiors (South Africa) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Pierre-Yves Rochon (United States) and LIFE Interiors, Architecture & Strategic Design (South Africa).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Hotel Design market by Type (Interior Design and Building Design), Application (Business, Vacation and Others) and Region.
On the basis of geography, the market of Luxury Hotel Design 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 Destination, the sub-segment i.e. Mountain will boost the Luxury Hotel Design market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Smart Technology will boost the Luxury Hotel Design 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. Resorts Hotel will boost the Luxury Hotel Design market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Eco-friendly Features in Luxury Hotel Design and Technological Advancements in Luxury Hotel Design
Market Growth Drivers:
Changing Standard of Living Across the World and Demand for Luxury and Comfort Stay
Challenges:
Problems in Import and Export of Furniture and Designing Material in Some Locations and Availability of Lodging in Low Prices Might Hinder Luxury Hotel Design Market
Restraints:
The Huge Impact of COVID19 on Hospitality Industry, Restriction on International Travel and Tourism and Highly Expensive Designing and Furniture in Luxury Hotel Design
Opportunities:
The Normal Economic State after the Coronavirus Crisis will Boost the Luxury Hotel Design Market, Introduction of Boutiques Luxury Hotel Design and Evolving Hospitality Industry
Market Leaders and their expansionary development strategies
In September 2023, Marriott International announced the launch of its Design Lab, a dedicated innovation hub focused on exploring new trends and technologies in hospitality design. The Design Lab will collaborate with designers, architects, and other industry experts to develop next-generation hotel concepts and experiences.
In October 2023, hospitality giants Accor and Ennismore announced the merger of their design teams. This move aims to create a more unified and collaborative approach to design across their diverse portfolio of luxury brands, including Raffles, Fairmont, and SLS.
Key Target Audience
Luxury Hotel Designer, Interior Designers, Industry Associations, Research and Development Institutes, Financial Investors, Regulatory Bodies and Others
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.