United States Luxury Hotel Market Size (2024 - 2029)

The United States luxury hotel market is experiencing significant growth, driven by an increase in both international and domestic tourism. This expansion is supported by the rising number of international sporting events, trade shows, and exhibitions, which boost travel and tourism activities. The market's growth is further fueled by changing living standards and the growing demand for luxurious accommodations, particularly for families and business executives. The advent of online booking services and the availability of attractive lodging packages with premium services have also contributed to the market's expansion. Additionally, the integration of advanced technologies in hotel facilities enhances guest experiences, further supporting the market's growth trajectory.

Home Market Analysis Hospitality and Tourism Research Hospitality Research Luxury Hospitality Research US Luxury Hotel Market Market Size

Market Size of United States Luxury Hotel Industry

United States Luxury Hotel Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 73.10 Billion
Market Size (2029) USD 93.83 Billion
CAGR (2024 - 2029) 5.12 %
Market Concentration Low

Major Players

United States Luxury Hotel Market Major Players

*Disclaimer: Major Players sorted in no particular order

US Luxury Hotel Market Analysis

The United States Luxury Hotel Market size is estimated at USD 73.10 billion in 2024, and is expected to reach USD 93.83 billion by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).

The United States has a booming luxury hotel business. The influx of international tourists and domestic tourist movements are anticipated to increase as there are a rising number of international sporting events, trade shows, and exhibitions. The expansion of the travel and tourist sector and shifting standards of living have fueled the market trends for luxury hotels to increase steadily.

The increased desire for luxurious stays with family or facilities offered for upper management executives during business tours supports the growth of the luxury hotel market in the United States. Also, the emergence of online booking services has accelerated market growth.

The increasing availability of lodging packages with deluxe rooms and high-end services attracted many guests to extend their stays, which boosted revenue generation. The rising adoption of advanced technology in offering facilities like free WiFi and intelligent bathrooms attracts guests. Therefore, these factors contribute to the market growth in the United States.

US Luxury Hotel Industry Segmentation

A luxury hotel is known as a “hotel that provides its guests with a high-end lodging experience.” Luxury hotels are often frequented by affluent guests and are expected to provide high-end services and quality food. 

The United States luxury hotel market is segmented by service type, by theme. The market by service type is further segmented into business hotel, airport hotel, suite hotel, resort & spa, and other service hotels. The market by theme is further segmented into heritage, contemporary, modern, and others. The report offers market size and forecasts for the United States luxury hotel market in value (USD) for all the above segments.

By Service Type
Business Hotels
Airport Hotels
Suite Hotel
Resorts
Other Service Hotels
By Theme
Heritage
Contemporary
Modern
Others
Need A Different Region Or Segment?
Customize Now

United States Luxury Hotel Market Size Summary

The United States luxury hotel market is experiencing robust growth, driven by an increase in both international and domestic tourism. The market is benefiting from a rise in international sporting events, trade shows, and exhibitions, which are attracting more visitors. This influx is further supported by evolving lifestyle standards and the expansion of the travel sector, which have collectively fueled the demand for luxury accommodations. The desire for upscale stays, whether for leisure or business, is propelling market expansion. Additionally, the advent of online booking services has streamlined the process, making it easier for travelers to secure luxurious accommodations. The availability of premium lodging packages and advanced technological amenities, such as intelligent bathrooms and complimentary WiFi, are also contributing to the market's growth by enhancing the guest experience and encouraging longer stays.

The growth of tourism in the United States is a significant driver of the luxury hotel market, as it leads to higher occupancy rates and increased spending on premium services. This surge in demand presents opportunities for luxury hotels to attract high-spending travelers, thereby boosting revenue. The market is also seeing an influx of Chinese tourists, which is further stimulating expansion. The competitive landscape is characterized by a mix of major players and smaller businesses, with top brands like JW Marriott, Rose Wood Hotel, and Ritz-Carlton maintaining a strong presence. Strategic partnerships, such as the one between Marriott and MGM Resorts, and mergers like those by Hyatt Corporation, are enhancing market offerings and expanding reach. These developments indicate a dynamic market poised for continued growth, supported by both domestic and international demand.

Explore More

United States Luxury Hotel Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Trend of Availing Luxurious Lifestyle While Travelling

    3. 1.3 Market Restraints/ Challenges

      1. 1.3.1 Changing Consumer Preferences

      2. 1.3.2 Rising Operational Costs

    4. 1.4 Market Opportunities

      1. 1.4.1 Targeting Niche Markets

      2. 1.4.2 Technological Advancements

    5. 1.5 Porter Five Forces

      1. 1.5.1 Threat of new Entrants

      2. 1.5.2 Bargaining Power of Buyers/ Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Service Type

      1. 2.1.1 Business Hotels

      2. 2.1.2 Airport Hotels

      3. 2.1.3 Suite Hotel

      4. 2.1.4 Resorts

      5. 2.1.5 Other Service Hotels

    2. 2.2 By Theme

      1. 2.2.1 Heritage

      2. 2.2.2 Contemporary

      3. 2.2.3 Modern

      4. 2.2.4 Others

United States Luxury Hotel Market Size FAQs

The United States Luxury Hotel Market size is expected to reach USD 73.10 billion in 2024 and grow at a CAGR of 5.12% to reach USD 93.83 billion by 2029.

In 2024, the United States Luxury Hotel Market size is expected to reach USD 73.10 billion.

US Luxury Hotel Market Report Snapshots

US Luxury Hotel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)