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Luxury Hotels Market to Surge at a Robust Pace In Terms Of Revenue Over 2031 Date: March 29, 2022 Author: Tech News
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Transparency Market Research delivers key insights into the global luxury hotels market. In terms of revenue, the global luxury hotels market is estimated to expand at a CAGR of 6.2% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global luxury hotels market. The trends in the luxury hospitality industry are changing rapidly, owing to evolving consumer needs, shifting technology, and external economic forces. The hoteliers in the luxury segment are constantly adopting the latest technology to upgrade the experience level for their consumers. This factor drives the global luxury hotels market. Moreover, with the rising of the COVID-19 pandemic, players in the market have increased the use of contactless technology, which, in turn, has helped them gain consumer con dence and regain stability.