Emerging economies care more about luxe hotel brands, even if the U.S. leads
The luxury sector is one of the first to benefit from an economic rebound, but it still caters to a very specific market in most regions of the world.
America is the home of the luxury hotel.
Seventy-five percent of luxury hotel chains and brands are based in the United States and U.S. consumers report the highest interest (66.3 percent) in the sector, according to the World Luxury Index.
U.S. interest in luxury hotels grew slower than the global average of 1.5 percent; however interest grew at much higher rates in the established and emerging economies of UK, France, Russia, India, and China.
It’s not surprising that interest dropped in recession-hit countries of Germany and Italy, but it also dropped in the growing economies of Brazil and Japan. Brazil’s “extremely fragmented hotel market” could be one cause of the drop in interest.
|Country||Deman growth for luxury hotels (%)|
|United States||+ 0.5|