Global Luxury Hotels Market Set for Rapid Growth to Reach USD 194.63 Billion by 2021

Albany, NY -- (SBWIRE) -- 10/20/2017 -- Increasing consumer awareness and changing lifestyle are the major factors contributing to the growing popularity of luxury hotels globally. With the increasing standard of living, consumers are opting for luxury hotels for better services. Furthermore, the booming travel and tourism industry is one of the key factors fueling the demand for luxury hotels globally. In addition, rise in branding and promotional activities are one of the prime factors responsible for the increasing awareness about luxury hotels. Hoteliers are focusing on branding and promotions for better market penetration. Online booking, advance services, and easy check-in and check-out processes are the major driving factors responsible for the success of the Luxury Hotel Industry. Moreover, in order to meet the consumer demands, hoteliers are focusing on upgrading their services. As service is a crucial part of the hospitality industry, hoteliers are concentrating on providing excellent services to retain customers.