Creating a luxury hospitality brand in a competitive market

Once considered relatively niche, the luxury segment of the hospitality industry has exploded in recent years, with rising global wealth and increasing desire for personalized and immersive experiences driving the interest. In 2023, the international luxury hospitality industry was valued at USD 140.28 billion. And it’s expected to grow to USD 154.32 billion in 2024 and USD 369.36 billion by 2032, representing a compound annual growth rate of 11.5%.