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25 Most Luxurious Hotels in the World

Ali Hassan
9 min read

In This Article:

In this article, we will be taking a look at the 25 most luxurious hotels in the world. To skip our detailed analysis of the global leisure and hospitality industry, you can go directly to 10 Most Luxurious Hotels in the World.

Global Leisure and Hospitality Industry Outlook

The global tourism industry is finally on track after a pause in 2020 and 2021. The COVID-19 pandemic came as a bombshell and placed the entire world on hold. The leisure and hospitality industry faced daunting challenges just like many other industries such as airlines, speciality retail, and automobiles. However, the changing patterns in living styles are making a difference in the leisure and hospitality industry.

On March 23, Ernst & Young’s Americas Hospitality Sector Leader, Umar Riaz, published a report on the outlook of the hospitality industry in 2023. According to the report, the post-pandemic traveling trend remains strong and should continue to rise in 2023. In 2022, the revenue per available room was up 8.1% in the U.S. compared to 2019. During the same period, the revenue per available room was up 6.1% in Europe. On the contrary, a negative trend was recorded in Asia with a 31.2% decline in revenue per available room from 2019 to 2022. The plunge in the Asian market was primarily driven by restrictions in China. The report also adds that the revenue per available room in the U.S. has surpassed GDP growth during the current economic cycle. Comparing the GDP growth and revenue per available room, Umar Riaz said: 

“Historically there has been a strong correlation between GDP growth and revenue per available room. But it’s my opinion that given the current dynamics of the travel industry, even if there is a mild recession in the next six months or so, the travel industry will still perform strongly.”

The market performance of the hospitality industry has been overwhelming compared to other industries such as technology and retail. The upward trend in hotel bookings is expected to increase during the second half of 2023 and should attract more visitors to the most luxurious hotels in the world. 

Factors Supporting the Hospitality Industry

Despite the global recession threat, people’s urge to spend holidays at the most luxurious hotels hasn’t died down. Wealthy people always want to spend some time in luxury. Consequently, some major factors are key to supporting the hospitality sector such as leisure demand, business travel recovery, and China’s re-opening. Increasing inflation might affect the choices of consumers when they travel, but demand remains strong. 

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