The luxury hotels industry is one of the major customer service industries globally. Growing travel and tourism industry is one of the key reasons behind the growth of luxury hotels industry. In order to meet the increasing demand for unique customer services, luxury hotels are constantly striving to improve their services by focusing on changing consumer preferences.
Rise in the travel and tourism industry is contributing to the growth of luxury hotels globally. Urbanization and industrialization has paved the way for the development of hotel industry globally. Growing number of travelers across different regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW) is contributing to the positive growth of the luxury hotels market. Increasing disposable income and growing expenditure on luxury lifestyle are also expected to have a positive impact on the luxury hotel industry.