Luxury Hotel Market by Type, Ownership, and Geography - Forecast and Analysis 2023-2027

Published: Dec 2022 Pages: 153 SKU: IRTNTR74830

Luxury Hotel Market Report 2023-2027 

The luxury hotel market size is estimated to grow by USD 54.46 billion accelerating at a CAGR of 4.5% between 2022 and 2027. 

Our report offers in-depth analysis of market drivers, trends, opportunities, challenges, and restraints, with segmentation by Type (upscale, upper-upscale, and luxury) and Geography (North America, Europe, APAC, Middle East and Africa, and South America) and geography North America, Europe, APAC, Middle East and Africa, and South America. Additionally, Technavio provides valuable insights through value chain analysis, parent market analysis, Porter’s Five analysis, vendor analysis, and COVID-19 impact data. The report also includes a thorough analysis of historical market data from 2017 to 2022.

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Luxury Hotel Market Analysis and Insights

The growing disposable income among the guests is a key driver boosting the luxury hotel market. The hospitality industry, particularly in developed economies like the US, Canada, Germany, and France, is a driving force for economic growth. Rising middle-class populations, increased disposable income, and evolving preferences among millennials contribute to higher spending on luxury experiences. The global surge in disposable income, evident in a USD 89.7 billion rise in the US from February to March 2022, according to the Bureau of Economic Analysis, is complemented by consistent growth reported by the OECD. This increased spending power, coupled with a booming tourism industry, fuels demand for luxury hotels, propelling the growth of the global luxury hotel market.

The higher acceptance of online booking platforms is a major luxury hotel market trend. A growing number of individuals prefer online portals for hotel bookings, facilitating organized and efficient reservations. These portals employ innovative strategies, offering customized deals, like pre-launch VIP programs for high-earning individuals, attracting early sign-ups. Notably, platforms such as booking.com allow users to tailor bookings based on their visit type, sort and filter hotels by amenities, and access detailed destination information, saving time. The increasing popularity and acceptance of online bookings are anticipated to create opportunities for vendors in the global luxury hotel market during the forecast period.

The high cost associated with luxury hotels is a key challenge hindering the luxury hotel market growth. Luxury hotels, characterized by higher investment and localization costs, are pricier than traditional options, often limiting their appeal to premium clientele. The elevated costs associated with luxury accommodations hinder market growth, compelling some guests to opt for traditional alternatives. In 2022, the cost of renting luxury hotel rooms and suites significantly rose, with a global hotel rate increase of approximately 13% year-over-year, projected to grow by about 10% in 2023. The average daily rate (ADR) for luxury hotels in June, July, and August 2022 reached USD 200, over 11% higher than in 2019 at USD 180. This escalating ADR reflects rising room and suite prices, potentially discouraging patrons and hampering the global luxury hotel market's growth in the forecast period.

Luxury Hotel Market Segmentation

The market share growth by the upscale segment will be significant during the forecast period. The upscale hotels offer a wide range of services and amenities such as on-site food and beverage, concierge services, meeting and conference services and facilities, a fitness center, and a business center. 

Luxury Hotel Market

By Type

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The upscale segment was valued at USD 156.59 billion in 2017 and continued to grow until 2021. The upscale hotels are generally three- and four-star hotels. Moreover, these hotels are also offering exclusive play areas for children, as many families are opting for upscale hotels for vacations and other leisure purposes. Hotel chains such as Marriott, Radisson, and Hyatt are examples of upscale hotels. Compared with the upper-upscale and luxury hotels, upscale hotels are affordable. The increasing disposable income of consumers across developing and developed economies is majorly driving the growth of the upscale rooms segment in the global luxury hotel market. This, in turn, will drive the growth of the upscale segment in the market during the forecast period.

North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Luxury Hotel Market

By North America

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The luxury hotel market in North America is experiencing significant growth driven by factors such as a growing baby boomer population, rising demand for micro trips from professionals, and increased interest in multigenerational customized travels. The region benefits from well-connected transportation, luxurious accommodations, and exotic tourism destinations, offering popular adventure activities like trekking, caving, hill climbing, skydiving, and surfing. The presence of renowned vendors and a surge in food festivals also contribute to the market's expansion. Multigenerational trips are on the rise, particularly among baby boomers seeking quality family time in exotic destinations with various activities. Las Vegas remains a preferred destination, particularly for casino gaming enthusiasts.

The COVID-19 pandemic significantly impacted the US in 2020, leading to strict travel restrictions that severely affected the hotel market. However, the market saw recovery in 2021 with the widespread vaccination of the population and the easing of lockdowns, fostering a staycation trend. The prevalence of remote work further fueled people's preference for traveling and working from their preferred locations. Additionally, increasing government initiatives in the region are anticipated to contribute to market growth during the forecast period.

Luxury Hotel Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Segment Overview

The luxury hotel market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Type Outlook (USD Billion, 2017 - 2027)
    • Upscale
    • Upper-upscale
    • Luxury
  • Ownership Outlook (USD Billion, 2017 - 2027)
    • Chain
    • Independent
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Luxury Hotel Market Scope

Report Coverage

Details

Page number

153

Base year

2022

Historic period

 2018 - 2022

Forecast period

2023-2027

Growth momentum & CAGR

Decelerate at a CAGR of 4.5%

Market growth 2023-2027

USD 54.46 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

4.92

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 32%

Key countries

US, China, India, UK, and Germany

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Accor S.A., Aman Group Sarl., Best Western International Inc., Choice Hotels International Inc., Four Seasons Hotels Ltd., Hyatt Hotels Corp., InterContinental Hotels Group Plc, ITC Ltd., Jardine Matheson, Jumeirah International LLC, Kempinski Hotels SA, Kerzner International Ltd., LVMH Moet Hennessy Louis Vuitton SE, Marriott International Inc., Rosewood Hotel Group, Shangri La Asia Ltd., Soneva Mauritius Ltd., The Hongkong and Shanghai Hotels Ltd., The Indian Hotel Co. Ltd., and Wyndham Destinations

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Luxury Hotel Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behaviour
  • Growth of the market industry across North America, Europe, APAC, Middle East and Africa, and South America
  • Thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Ownership
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global luxury hotel market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global luxury hotel market 2017 - 2021 ($ billion)
    • 4.2 Type Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
    • 4.3 Ownership Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Ownership Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Upscale - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Upscale - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Upscale - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Upscale - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Upscale - Year-over-year growth 2022-2027 (%)
    • 6.4 Upper-upscale - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Upper-upscale - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Upper-upscale - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Upper-upscale - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Upper-upscale - Year-over-year growth 2022-2027 (%)
    • 6.5 Luxury - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Luxury - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on Luxury - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on Luxury - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Luxury - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Type
      • Exhibit 46: Market opportunity by Type ($ billion)

    7 Market Segmentation by Ownership

    • 7.1 Market segments
      • Exhibit 47: Chart on Ownership - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on Ownership - Market share 2022-2027 (%)
    • 7.2 Comparison by Ownership
      • Exhibit 49: Chart on Comparison by Ownership
      • Exhibit 50: Data Table on Comparison by Ownership
    • 7.3 Chain - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Chain - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Data Table on Chain - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Chart on Chain - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Chain - Year-over-year growth 2022-2027 (%)
    • 7.4 Independent - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Independent - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 56: Data Table on Independent - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Chart on Independent - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Independent - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Ownership
      • Exhibit 59: Market opportunity by Ownership ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 UK - Market size and forecast 2022-2027
      • Exhibit 89: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 India - Market size and forecast 2022-2027
      • Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 Accor S.A.
              • Exhibit 112: Accor S.A. - Overview
              • Exhibit 113: Accor S.A. - Business segments
              • Exhibit 114: Accor S.A. - Key offerings
              • Exhibit 115: Accor S.A. - Segment focus
            • 12.4 Best Western International Inc.
              • Exhibit 116: Best Western International Inc. - Overview
              • Exhibit 117: Best Western International Inc. - Product / Service
              • Exhibit 118: Best Western International Inc. - Key offerings
            • 12.5 Choice Hotels International Inc.
              • Exhibit 119: Choice Hotels International Inc. - Overview
              • Exhibit 120: Choice Hotels International Inc. - Product / Service
              • Exhibit 121: Choice Hotels International Inc. - Key offerings
            • 12.6 Four Seasons Hotels Ltd.
              • Exhibit 122: Four Seasons Hotels Ltd. - Overview
              • Exhibit 123: Four Seasons Hotels Ltd. - Product / Service
              • Exhibit 124: Four Seasons Hotels Ltd. - Key offerings
            • 12.7 Hyatt Hotels Corp.
              • Exhibit 125: Hyatt Hotels Corp. - Overview
              • Exhibit 126: Hyatt Hotels Corp. - Business segments
              • Exhibit 127: Hyatt Hotels Corp. - Key offerings
              • Exhibit 128: Hyatt Hotels Corp. - Segment focus
            • 12.8 InterContinental Hotels Group Plc
              • Exhibit 129: InterContinental Hotels Group Plc - Overview
              • Exhibit 130: InterContinental Hotels Group Plc - Product / Service
              • Exhibit 131: InterContinental Hotels Group Plc - Key offerings
            • 12.9 ITC Ltd.
              • Exhibit 132: ITC Ltd. - Overview
              • Exhibit 133: ITC Ltd. - Business segments
              • Exhibit 134: ITC Ltd. - Key offerings
              • Exhibit 135: ITC Ltd. - Segment focus
            • 12.10 Jumeirah International LLC
              • Exhibit 136: Jumeirah International LLC - Overview
              • Exhibit 137: Jumeirah International LLC - Product / Service
              • Exhibit 138: Jumeirah International LLC - Key offerings
            • 12.11 Kempinski Hotels SA
              • Exhibit 139: Kempinski Hotels SA - Overview
              • Exhibit 140: Kempinski Hotels SA - Product / Service
              • Exhibit 141: Kempinski Hotels SA - Key offerings
            • 12.12 LVMH Moet Hennessy Louis Vuitton SE
              • Exhibit 142: LVMH Moet Hennessy Louis Vuitton SE - Overview
              • Exhibit 143: LVMH Moet Hennessy Louis Vuitton SE - Business segments
              • Exhibit 144: LVMH Moet Hennessy Louis Vuitton SE - Key news
              • Exhibit 145: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
              • Exhibit 146: LVMH Moet Hennessy Louis Vuitton SE - Segment focus
            • 12.13 Marriott International Inc.
              • Exhibit 147: Marriott International Inc. - Overview
              • Exhibit 148: Marriott International Inc. - Business segments
              • Exhibit 149: Marriott International Inc. - Key offerings
              • Exhibit 150: Marriott International Inc. - Segment focus
            • 12.14 Rosewood Hotel Group
              • Exhibit 151: Rosewood Hotel Group - Overview
              • Exhibit 152: Rosewood Hotel Group - Product / Service
              • Exhibit 153: Rosewood Hotel Group - Key offerings
            • 12.15 Shangri La Asia Ltd.
              • Exhibit 154: Shangri La Asia Ltd. - Overview
              • Exhibit 155: Shangri La Asia Ltd. - Business segments
              • Exhibit 156: Shangri La Asia Ltd. - Key offerings
              • Exhibit 157: Shangri La Asia Ltd. - Segment focus
            • 12.16 The Indian Hotel Co. Ltd.
              • Exhibit 158: The Indian Hotel Co. Ltd. - Overview
              • Exhibit 159: The Indian Hotel Co. Ltd. - Product / Service
              • Exhibit 160: The Indian Hotel Co. Ltd. - Key offerings
            • 12.17 Wyndham Destinations
              • Exhibit 161: Wyndham Destinations - Overview
              • Exhibit 162: Wyndham Destinations - Product / Service
              • Exhibit 163: Wyndham Destinations - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 164: Inclusions checklist
                • Exhibit 165: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 166: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 167: Research methodology
                • Exhibit 168: Validation techniques employed for market sizing
                • Exhibit 169: Information sources
              • 13.5 List of abbreviations
                • Exhibit 170: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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