In 2015, the global luxury hotel sector continued to expand, backed by growing tourism and rise in affluent leisure and business travelers. Rising disposable incomes in China and India, presence of rich corporate culture and growth in the number of international events are expected to drive growth in the future. China is the largest luxury hotels market with room supply of 337,212 in 2015, followed by the US and Mexico, while Saudi Arabia was the fastest growing market at a CAGR of 12.5%.Continue Reading...
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