The Importance of Luxury Hotels

Even though the luxury market has grown faster than other markets, the question arises if luxury hotels are still of importance with reference to the social and economical aspects. This is questionable since nowadays more and more luxury hotels try to overtrump each other. At the same time various other properties give the impression of being a luxury resort in order to generate customers. Therefore, as competition increases constantly, it is more and more important for luxury hotels to understand customers needs and expectations. This book anticipates to not only investigate what guests expect when staying at a luxury hotel but also to analyze the resulting importance of luxury hotels in regards to social and economical aspects. In order to complete this thesis, a successful marketing strategy of a luxury hotel chain is exemplified and the advantages, respectively disadvantages, luxury hotels have over budget hotels are outlined.