Groupe Gm Partnered With Prestigious Lifestyle Brand Jo Malone London For Luxury Hotels Market
Rapid growth in the travel and tourism industry is one of the major factors augmenting the growth of the luxury hotels market. According to the India Tourism Statistics, the number of Foreign Tourist Arrivals (FTAs) in India during 2018 increased to 10.56 million as compared to 10.04 million in 2017. The growth rate in FTAs during 2018 over 2017 was 5.2% as compared to 14.0% during 2017 over 2016. Tourism continues to play an important role as a foreign exchange earner for the country. In 2018, foreign exchange earnings (FEE) from tourism were US$ 28.59 billion as compared to US$ 27.31 billion in 2017, registering a growth of 4.7%. North America is expected to hold the major share in the global luxury hotels market and this is attributed to the presence of a large number of hotel chains in the U.S. such as Marriott International, Inc., Shangri-La International Hotel Management Ltd., Hyatt Hotels Corporation, and Hilton. At the same time, Asia Pacific is expected to gain the ...