E&M

2023/3

Sowon Kim Florent Girardin Matthias Fuchs

Luxury Hospitality: Challenges, Trends, and Good Practices

Luxury is the new black. After the pandemic, the luxury industry grew back to € 1.15 trillion in 2021 and continued its growth in 2022 by 19-21% (Bain & Company, 2023). Luxury hospitality, luxury cars, and personal luxury goods represent over 80% of the total market. In this article, we zoom in on the world of luxury hospitality to examine the trends that are shaping this industry, the challenges that are associated with the trends, and the best practices that illustrate how to manage such challenges.

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