The Global Luxury Hotels Market – Key Trends and Opportunities to 2017

The Global Luxury Hotels Market – Key Trends and Opportunities to 2017

$4,950.00

Publication ID
TMC0913380
Publication Date
September 13, 2013
Pages
158
Regions Covered
Publisher
The global luxury travel market recorded strong growth in 2011–2012, after a significant decline in 2009 and modest recovery in 2010. One of the key drivers of this growth was the increasing number of high net worth individuals (HNWIs) globally, primarily in the BRIC countries. This growth in global luxury travel is expected to continue over the forecast period to 2017.
 
The report provides detailed market analysis, information and insights, including:
  • Historic and forecast revenue for the global luxury hotels market covering 40 countries
  • Detailed region wise (Americas, Asia-Pacific, Europe, Middle East & Africa) analysis of luxury hotel key performance indicators such as the number of luxury hotel establishments, number of available luxury rooms, luxury room occupancy rate, average revenue per available luxury room and average total revenue per available luxury room for the review (2008-2012) and forecast (2013-17) periods
  • Analysis of the global luxury travel market and the present scenario in the luxury hotel construction industry
  • Detailed analysis of the market trends in emerging luxury hotel markets such as in the BRIC countries (Brazil, Russia, India and China)
 

Scope

  • This report provides an extensive analysis related to the global luxury hotels market: 
  • Market size for the 40 major countries comprising the global luxury hotel market for 2008–2012, along with forecast figures for 2013–2017.
  • Luxury hotel key performance indicators in these countries with values for both the 2008–2012 review period and the 2013–2017 forecast period
 

Reasons To Buy

  • Take strategic business decisions using historic and forecast market data related to the global luxury hotel market
  • Understand the key market trends and growth opportunities in the global luxury hotel market
  • Gain strategic insights on the leading global luxury hotel companies
 

Key Highlights

  • The global luxury travel market recorded strong growth in 2011–2012, after a significant decline in 2009 and modest recovery in 2010. One of the key drivers of this growth was the increasing number of high net worth individuals (HNWIs) globally, primarily in the BRIC countries (Brazil, Russia India and China). This growth in global luxury travel is expected to continue over the forecast period to 2017.
  • Luxury hotel companies around the world are expected to focus on achieving operational efficiency, reducing spending on customer services that offer little value, developing the use of mobile technology, and targeting high-value customers. Luxury hotel companies are increasingly using mobile technology to enhance value and transforming how they interact with customers. In 2012, leading luxury hotel brands had mobile websites and offered mobile applications.
  • Most leading global luxury hotel chains are based in the US, and the country is also the largest source market in the global luxury hospitality sector. Cities in the US are among the leading, and fastest-growing tourism destinations. For instance, Washington DC is one of the fastest-growing global tourism destinations, while New York is among the largest in terms of inbound tourist volumes. Other cities that continue to report good growth in the travel and accommodation industries include Chicago, San Francisco and Los Angeles.
  • During the review period, the luxury hospitality sector in the Asia-Pacific region faced major challenges. Natural disasters in 2011, including the earthquake in Japan in March and unprecedented floods in Thailand, led to an overall decline in the performance of the hotel market in the region. Major economies in the Asia-Pacific region have recorded economic slowdowns over the past two years. Despite these challenges, the luxury hospitality industry in the Asia-Pacific region registered a significant growth of 18% in 2010 and 11% in 2011.
  • During the review period, the European hospitality industry recorded muted growth, led by uncertainty due to the sovereign debt crisis. However, major cities in Western and Central Europe and the Nordic countries continued to see growth. Higher growth was recorded in 2011 as compared to 2010, despite the economic uncertainty in Europe. In Western Europe in particular, the luxury hospitality segment achieved growth of 9% in 2011. The European region experienced an overall increase in RevPAR and ADR in 2012, although the occupancy rate is expected to remain largely unchanged in 2013.
  • Over the forecast period, occupancy-related KPIs are expected to improve as compared to the review period as political issues are resolved. Rises in ADR are expected for most hospitality industries, albeit at varied growth rates. Increases in tourism from emerging markets such as China are expected to increase ADR for popular tourist destinations such as Dubai over the forecast period.

1 Executive Summary

2 Global Luxury Travel Market – Key Trends and Issues

2.1 Global Luxury Hotel Market – Key Trends and Issues
2.2 Global Luxury Hotels Market – SWOT
2.2.1 Strengths
2.2.2 Weaknesses
2.2.3 Opportunities
2.2.4 Threats
2.3 Global Hotels Construction Market – Trends and Issues
2.4 Global Luxury Hotel KPIs – the Americas
2.4.1 The Americas – number of luxury hotel establishments (2008–2012)
2.4.2 The Americas – number of luxury hotel establishments (2013–2017)
2.4.3 The Americas – number of luxury hotel rooms (2008–2012)
2.4.4 The Americas – number of luxury hotel rooms (2013–2017)
2.4.5 The Americas – luxury room occupancy rate (2008–2012)
2.4.6 The Americas – luxury room occupancy rate (2013–2017)
2.4.7 The Americas – average revenue per available luxury room (2008–2012)
2.4.8 The Americas – average revenue per available luxury room (2013–2017)
2.4.9 The Americas – average revenue per occupied luxury room (2008–2012)
2.4.10 The Americas – average revenue per occupied luxury room (2013–2017)
2.4.11 The Americas – average total revenue per available luxury room (2008–2012)
2.4.12 The Americas – average total revenue per available luxury room (2013–2017)
2.5 Global Luxury Hotels KPIs – Asia-Pacific
2.5.1 Asia-Pacific – number of luxury hotel establishments (2008–2012)
2.5.2 Asia-Pacific – number of luxury hotel establishments (2013–2017)
2.5.3 Asia-Pacific – number of luxury hotel rooms (2008–2012)
2.5.4 Asia-Pacific – number of luxury hotel rooms (2013–2017)
2.5.5 Asia-Pacific – luxury room occupancy rate (2008–2012)
2.5.6 Asia-Pacific – luxury room occupancy rate (2013–2017)
2.5.7 Asia-Pacific – average revenue per available luxury room (2008–2012)
2.5.8 Asia-Pacific – average revenue per available luxury room (2013–2017)
2.5.9 Asia-Pacific – average revenue per occupied luxury room (2008–2012)
2.5.10 Asia-Pacific – average revenue per occupied luxury room (2013–2017)
2.5.11 Asia-Pacific – average total revenue per available luxury room (2008–2012)
2.5.12 Asia-Pacific – average total revenue per available luxury room (2013–2017)
2.6 Global Luxury Hotels KPIs – Europe
2.6.1 Europe – number of luxury hotel establishments (2008–2012)
2.6.2 Europe – number of luxury hotel establishments (2013–2017)
2.6.3 Europe – number of luxury hotel rooms (2008–2012)
2.6.4 Europe – number of luxury hotel rooms (2013–2017)
2.6.5 Europe – luxury room occupancy rate (2008–2012)
2.6.6 Europe – luxury room occupancy rate (2013–2017)
2.6.7 Europe – average revenue per available luxury room (2008–2012)
2.6.8 Europe – average revenue per available luxury room (2013–2017)
2.6.9 Europe – average revenue per occupied luxury room (2008–2012)
2.6.10 Europe – average revenue per occupied luxury room (2013–2017)
2.6.11 Europe – average total revenue per available luxury room (2008–2012)
2.6.12 Europe – average total revenue per available luxury room (2013–2017)
2.7 Global Luxury Hotels KPIs – Middle East and Africa
2.7.1 The Middle East and Africa – number of luxury hotel establishments (2008–2012)
2.7.2 The Middle East and Africa – number of luxury hotel establishments (2013–2017)
2.7.3 The Middle East and Africa – number of luxury hotel rooms (2008–2012)
2.7.4 The Middle East and Africa – number of luxury hotel rooms (2013–2017)
2.7.5 The Middle East and Africa – luxury room occupancy rate (2008–2012)
2.7.6 The Middle East and Africa – luxury room occupancy rate (2013–2017)
2.7.7 The Middle East and Africa – average revenue per available luxury room (2008–2012)
2.7.8 The Middle East and Africa – average revenue per available luxury room (2013–2017)
2.7.9 The Middle East and Africa – average revenue per occupied luxury room (2008–2012)
2.7.10 The Middle East and Africa – average revenue per occupied luxury room (2013–2017)
2.7.11 The Middle East and Africa – average total revenue per available luxury room (2008–2012)
2.7.12 The Middle East and Africa – average total revenue per available luxury room (2013–2017)

3 Global Luxury Hotel Profiles

3.1 Company Profile: Shangri-La Asia Ltd
3.1.1 Shangri-La Asia Ltd – company overview
3.1.2 Shangri-La Asia Ltd – business description
3.1.3 Shangri-La Asia Ltd – main services and brands
3.1.4 Shangri-La Asia Ltd – history
3.1.5 Shangri-La Asia Ltd – SWOT analysis
3.1.6 Shangri-La Asia Ltd – strengths
3.1.7 Shangri-La Asia Ltd – weaknesses
3.1.8 Shangri-La Asia Ltd – opportunities
3.1.9 Shangri-La Asia Ltd – threats
3.1.10 Shangri-La Asia Ltd – key competitors
3.1.11 Shangri-La Asia Ltd – key employees
3.2 Company Profile: InterContinental Hotels Group Plc
3.2.1 InterContinental Hotels Group Plc – company overview
3.2.2 InterContinental Hotels Group Plc – business description
3.2.3 InterContinental Hotels Group Plc – main services and brands
3.2.4 InterContinental Hotels Group Plc – history
3.2.5 InterContinental Hotels Group Plc – SWOT analysis
3.2.6 InterContinental Hotels Group Plc – strengths
3.2.7 InterContinental Hotels Group Plc – weaknesses
3.2.8 InterContinental Hotels Group Plc – opportunities
3.2.9 InterContinental Hotels Group Plc – threats
3.2.10 InterContinental Hotels Group Plc – key competitors
3.2.11 InterContinental Hotels Group Plc – key employees
3.3 Company Profile: Hyatt Hotels Corporation
3.3.1 Hyatt Hotels Corporation – company overview
3.3.2 Hyatt Hotels Corporation – business description
3.3.3 Hyatt Hotels Corporation – main services and brands
3.3.4 Hyatt Hotels Corporation – history
3.3.5 Hyatt Hotels Corporation – SWOT analysis
3.3.6 Hyatt Hotels Corporation – strengths
3.3.7 Hyatt Hotels Corporation – weaknesses
3.3.8 Hyatt Hotels Corporation – opportunities
3.3.9 Hyatt Hotels Corporation – threats
3.3.10 Hyatt Hotels Corporation – key competitors
3.3.11 Hyatt Hotels Corporation – key employees
3.4 Company Profile: Starwood Hotels & Resorts Worldwide, Inc.
3.4.1 Starwood Hotels & Resorts Worldwide, Inc. – company overview
3.4.2 Starwood Hotels & Resorts Worldwide, Inc. – business description
3.4.3 Starwood Hotels & Resorts Worldwide, Inc. – main services and brands
3.4.4 Starwood Hotels & Resorts Worldwide, Inc. – history
3.4.5 Starwood Hotels & Resorts Worldwide, Inc. – SWOT analysis
3.4.6 Starwood Hotels & Resorts Worldwide, Inc. – strengths
3.4.7 Starwood Hotels & Resorts Worldwide, Inc. – weaknesses
3.4.8 Starwood Hotels & Resorts Worldwide, Inc. – opportunities
3.4.9 Starwood Hotels & Resorts Worldwide, Inc. – threats
3.4.10 Starwood Hotels & Resorts Worldwide, Inc. – key competitors
3.4.11 Starwood Hotels & Resorts Worldwide, Inc. – key employees
3.5 Company Profile: Marriott International, Inc.
3.5.1 Marriott International, Inc. – company overview
3.5.2 Marriott International, Inc. – business description
3.5.3 Marriott International, Inc. – main services
3.5.4 Marriott International, Inc. – history
3.5.5 Marriott International, Inc. – SWOT analysis
3.5.6 Marriott International, Inc. – strengths
3.5.7 Marriott International, Inc. – weaknesses
3.5.8 Marriott International, Inc. – opportunities
3.5.9 Marriott International, Inc. – threats
3.5.10 Marriott International, Inc. – key competitors
3.5.11 Marriott International, Inc. – key employees
3.6 Company Profile: Hilton Worldwide, Inc.
3.6.1 Hilton Worldwide, Inc. – company overview
3.6.2 Hilton Worldwide, Inc. – business description
3.6.3 Hilton Worldwide, Inc. – main services and brands
3.6.4 Hilton Worldwide, Inc. – history
3.6.5 Hilton Worldwide, Inc. – SWOT analysis
3.6.6 Hilton Worldwide, Inc. – strengths
3.6.7 Hilton Worldwide, Inc. – weaknesses
3.6.8 Hilton Worldwide, Inc. – opportunities
3.6.9 Hilton Worldwide, Inc. – threats
3.6.10 Hilton Worldwide, Inc. – key competitors
3.6.11 Hilton Worldwide, Inc. – key employees
3.7 Company Profile: Accor SA
3.7.1 Accor SA – company overview
3.7.2 Accor SA – business description
3.7.3 Accor SA – main services and brands
3.7.4 Accor SA – history
3.7.5 Accor SA – SWOT analysis
3.7.6 Accor SA – strengths
3.7.7 Accor SA – weaknesses
3.7.8 Accor SA – opportunities
3.7.9 Accor SA – threats
3.7.10 Accor SA – key competitors
3.7.11 Accor SA – key employees
3.8 Company Profile: Wyndham Worldwide Corporation
3.8.1 Wyndham Worldwide Corporation – company overview
3.8.2 Wyndham Worldwide Corporation – business description
3.8.3 Wyndham Worldwide Corporation – main services
3.8.4 Wyndham Worldwide Corporation – history
3.8.5 Wyndham Worldwide Corporation – SWOT analysis
3.8.6 Wyndham Worldwide Corporation – strengths
3.8.7 Wyndham Worldwide Corporation – weaknesses
3.8.8 Wyndham Worldwide Corporation – opportunities
3.8.9 Wyndham Worldwide Corporation – threats
3.8.10 Wyndham Worldwide Corporation – key competitors
3.8.11 Wyndham Worldwide Corporation – key employees
3.9 Company Profile: Rezidor Hotel Group AB
3.9.1 Rezidor Hotel Group AB – company overview
3.9.2 Rezidor Hotel Group AB – business description
3.9.3 Rezidor Hotel Group AB – main services and brands
3.9.4 Rezidor Hotel Group AB – history
3.9.5 Rezidor Hotel Group AB – SWOT analysis
3.9.6 Rezidor Hotel Group AB – strengths
3.9.7 Rezidor Hotel Group AB – weaknesses
3.9.8 Rezidor Hotel Group AB – opportunities
3.9.9 Rezidor Hotel Group AB – threats
3.9.10 Rezidor Hotel Group AB – key competitors
3.9.11 Rezidor Hotel Group AB – key employees
3.10 Company Profile: Choice Hotels International, Inc.
3.10.1 Choice Hotels International, Inc. – company overview
3.10.2 Choice Hotels International, Inc. – business description
3.10.3 Choice Hotels International, Inc. – main services and brands
3.10.4 Choice Hotels International, Inc. – history
3.10.5 Choice Hotels International, Inc. – SWOT analysis
3.10.6 Choice Hotels International, Inc. – strengths
3.10.7 Choice Hotels International, Inc. – weaknesses
3.10.8 Choice Hotels International, Inc. – opportunities
3.10.9 Choice Hotels International, Inc. – threats
3.10.10 Choice Hotels International, Inc. – key competitors
3.10.11 Choice Hotels International, Inc. – key employees

4 Global Luxury Hotel Markets – BRIC Countries

4.1 The Brazilian Luxury Hotel Market – Key Trends and Issues
4.1.1 Brazil – domestic tourism trends
4.1.2 Brazil – inbound tourism trends
4.1.3 Brazil – outbound tourism trends
4.2 The Russian Luxury Hotel Market – Key Trends and Issues
4.2.1 Russia – domestic tourism trends
4.2.2 Russia – inbound tourism trends
4.2.3 Russia – outbound tourism trends
4.3 The Indian Luxury Hotel Market – Key Trends and Issues
4.3.1 India – domestic tourism trends
4.3.2 India – inbound tourism trends
4.3.3 India – outbound tourism trends
4.4 The Chinese Luxury Hotel Market – Key Trends and Issues
4.4.1 China – domestic tourism trends
4.4.2 China – inbound tourism trends
4.4.3 China – outbound tourism trends

5 Appendix

5.1 What is this Report About?
5.2 Definitions
5.3 Methodology
5.4 Contact Timetric
5.5 About Timetric
5.6 Timetric’s Services
5.7 Disclaimer
 

List of Tables

Table 1: Shangri-La Asia Ltd, Key Facts
Table 2: Shangri-La Asia Ltd, Main Services and Brands
Table 3: Shangri-La Asia Ltd, History
Table 4: Shangri-La Asia Ltd, Key Employees
Table 5: InterContinental Hotels Group Plc, Key Facts
Table 6: InterContinental Hotels Group Plc, Main Services and Brands
Table 7: InterContinental Hotels Group Plc, History
Table 8: InterContinental Hotels Group Plc, Key Employees
Table 9: Hyatt Hotels Corporation, Key Facts
Table 10: Hyatt Hotels Corporation, Main Services and Brands
Table 11: Hyatt Hotels Corporation, History
Table 12: Hyatt Hotels Corporation, Key Employees
Table 13: Starwood Hotels & Resorts Worldwide, Inc., Key Facts
Table 14: Starwood Hotels & Resorts Worldwide, Inc., Main Services and Brands
Table 15: Starwood Hotels & Resorts Worldwide, Inc., History
Table 16: Starwood Hotels & Resorts Worldwide, Inc., Key Employees
Table 17: Marriott International, Inc., Key Facts
Table 18: Marriott International, Inc., Main Services and Brands
Table 19: Marriott International, Inc., History
Table 20: Marriott International, Inc., Key Employees
Table 21: Hilton Worldwide, Inc., Key Facts
Table 22: Hilton Worldwide, Inc., Main Services and Brands
Table 23: Hilton Worldwide, Inc., History
Table 24: Hilton Worldwide, Inc., Key Employees
Table 25: Accor SA, Key Facts
Table 26: Accor SA, Main Services and Brands
Table 27: Accor SA, History
Table 28: Accor SA., Key Employees
Table 29: Wyndham Worldwide Corporation, Key Facts
Table 30: Wyndham Worldwide Corporation, Main Services and Brands
Table 31: Wyndham Worldwide Corporation, History
Table 32: Wyndham Worldwide Corporation, Key Employees
Table 33: Rezidor Hotel Group AB, Key Facts
Table 34: Rezidor Hotel Group AB, Main Services and Brands
Table 35: Rezidor Hotel Group AB., History
Table 36: Rezidor Hotel Group AB, Key Employees
Table 37: Choice Hotels International, Inc., Key Facts
Table 38: Choice Hotels International Inc., Main Services and Brands
Table 39: Choice Hotels International, Inc., History
Table 40: Choice Hotels International, Inc., Key Employees
Table 41: Timetric Global Luxury Hospitality Sector Definitions
 

List of Figures

Figure 1: SWOT Analysis of the Global Luxury Hotels Market
Figure 2: The Americas – Number of Luxury Hotel Establishments, 2008–2012
Figure 3: The Americas – Number of Luxury Hotel Establishments, 2013–2017
Figure 4: The Americas – Number of Luxury Hotel Rooms, 2008–2012
Figure 5: The Americas – Number of Luxury Hotel Rooms, 2013–2017
Figure 6: The Americas – Luxury Room Occupancy Rate (%), 2008–2012
Figure 7: The Americas – Luxury Room Occupancy Rate (%), 2013–2017
Figure 8: The Americas – Average Revenue per Available Luxury Room (US$), 2008–2012
Figure 9: The Americas – Average Revenue per Available Luxury Room (US$), 2013–2017
Figure 10: The Americas – Average Revenue per Occupied Luxury Room (US$), 2008–2012
Figure 11: The Americas – Average Revenue per Occupied Luxury Room (US$), 2013–2017
Figure 12: The Americas – Average Total Revenue per Available Luxury Room (US$), 2008–2012
Figure 13: The Americas – Average Total Revenue per Available Luxury Room (US$), 2013–2017
Figure 14: Asia-Pacific – Number of Luxury Hotel Establishments, 2008–2012
Figure 15: Asia-Pacific – Number of Luxury Hotel Establishments, 2013–2017
Figure 16: Asia-Pacific – Number of Luxury Hotel Rooms, 2008–2012
Figure 17: Asia-Pacific – Number of Luxury Hotel Rooms, 2013–2017
Figure 18: Asia-Pacific – Luxury Room Occupancy Rate (%), 2008–2012
Figure 19: Asia-Pacific – Luxury Room Occupancy Rate (%), 2013–2017
Figure 20: Asia-Pacific – Average Revenue per Available Luxury Room (US$), 2008–2012
Figure 21: Asia-Pacific – Average Revenue per Available Luxury Room (US$), 2013–2017
Figure 22: Asia-Pacific – Average Revenue per Occupied Luxury Room (US$), 2008–2012
Figure 23: Asia-Pacific – Average Revenue per Occupied Luxury Room (US$), 2013–2017
Figure 24: Asia-Pacific – Average Total Revenue per Available Luxury Room (US$), 2008–2012
Figure 25: Asia-Pacific – Average Total Revenue per Available Luxury Room (US$), 2013–2017
Figure 26: Europe – Number of Luxury Hotel Establishments, 2008–2012
Figure 27: Europe – Number of Luxury Hotel Establishments, 2013–2017
Figure 28: Europe – Number of Luxury Hotel Rooms, 2008–2012
Figure 29: Europe – Number of Luxury Hotel Rooms, 2013–2017
Figure 30: Europe – Luxury Room Occupancy Rate (%), 2008–2012
Figure 31: Europe – Luxury Room Occupancy Rate (%), 2013–2017
Figure 32: Europe – Average Revenue per Available Luxury Room (US$), 2008–2012
Figure 33: Europe – Average Revenue per Available Luxury Room (US$), 2013–2017
Figure 34: Europe – Average Revenue per Occupied Luxury Room (US$), 2008–2012
Figure 35: Europe – Average Revenue per Occupied Luxury Room (US$), 2013–2017
Figure 36: Europe – Average Total Revenue per Available Luxury Room (US$), 2008–2012
Figure 37: Europe – Average Total Revenue per Available Luxury Room (US$), 2013–2017
Figure 38: The Middle East and Africa – Number of Luxury Hotel Establishments, 2008–2012
Figure 39: The Middle East and Africa – Number of Luxury Hotel Establishments, 2013–2017
Figure 40: The Middle East and Africa – Number of Luxury Hotel Rooms, 2008–2012
Figure 41: The Middle East and Africa – Number of Luxury Hotel Rooms, 2013–2017
Figure 42: The Middle East and Africa – Luxury Room Occupancy Rate (%), 2008–2012
Figure 43: The Middle East and Africa – Luxury Room Occupancy Rate (%), 2013–2017
Figure 44: The Middle East and Africa – Average Revenue per Available Luxury Room (US$), 2008–2012
Figure 45: The Middle East and Africa – Average Revenue per Available Luxury Room (US$), 2013–2017
Figure 46: The Middle East and Africa – Average Revenue per Occupied Luxury Room (US$), 2008–2012
Figure 47: The Middle East and Africa – Average Revenue per Occupied Luxury Room (US$), 2013–2017
Figure 48: The Middle East and Africa – Average Total Revenue per Available Luxury Room (US$), 2008–2012
Figure 49: The Middle East and Africa – Average Total Revenue per Available Luxury Room (US$), 2013–2017
Figure 50: Brazil – Number of Domestic Trips by Type (Million), 2007–2016
Figure 51: Brazil – International Arrivals by Purpose of Visit (Million), 2007–2016
Figure 52: Brazil – International Departures by Purpose of Visit (Million), 2007–2016
Figure 53: Russia – Number of Domestic Trips by Type (Million), 2007–2016
Figure 54: Russia – International Arrivals by Purpose of Visit (Million), 2007–2016
Figure 55: Russia – International Departures by Purpose of Visit (Million), 2007–2016
Figure 56: India – Number of Domestic Trips by Type (Million), 2008–2017
Figure 57: India – International Arrivals by Purpose of Visit (Million), 2008–2017
Figure 58: India – International Departures by Purpose of Visit (Million), 2008–2017
Figure 59: China – Number of Domestic Trips by Type (Million), 2008–2017
Figure 60: China – International Arrivals by Purpose of Visit (Million), 2008–2017
Figure 61: China – International Departures by Purpose of Visit (Million), 2008–2017
  1. InterContinental Hotels Group PLC
  2. Shangri-La Asia Limited
  3. Hyatt Hotels Corporation
  4. Starwood Hotels & Resorts Worldwide, Inc.
  5. Marriott International, Inc.
  6. Hilton Worldwide, Inc.
  7. Accor SA
  8. Wyndham Worldwide Corporation
  9. Rezidor Hotel Group AB
  10. Choice Hotels International, Inc.
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