Annual Luxury Hospitality Outlook

The principal annual reference for owners, allocators and institutional participants in the global luxury hotel market.

Executive Summary

01
The luxury cycle remains mid-stage; supply discipline is the principal differentiator vs. prior cycles.
02
Wellness-led repositioning is the defining asset-management theme of the decade.
03
Heritage stock outperforms newly built luxury on both occupancy and ADR growth.

Forecasts

Global Luxury RevPAR (3Y CAGR)

+5.4%

Transaction Volume (3Y CAGR)

+9.0%

New Supply Growth

+2.1% p.a. (disciplined)

Risk Considerations

Investment Outlook

We favour patient capital, heritage stock, wellness-integrated repositioning and disciplined branded residences strategies.

Advisory

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