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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Luxury Hotels Market Growth
The luxury hotels market in South Korea includes business hotels, airport hotels, suite hotels, and resorts. The surge in travel and tourism, particularly since BTS gained global popularity, has made South Korea a preferred destination over European and Western countries. National and international events organized by the government and corporations attract renowned guests, prompting a preference for luxury hotels due to their superior amenities.
The Hotel, Restaurant, and Institutional (HRI) food service sector exhibited signs of rebound following sales fluctuations amid the pandemic. In 2021, sector sales amounted to 150.76 trillion KRW (131.7 billion USD), marking a 7.77% increase from 2020 and a 4.41% rise from 2019.
South Korea Luxury Hotels Market Report Snapshots
South Korea Luxury Hotels Market Size
South Korea Luxury Hotels Market Growth
South Korea Luxury Hotels Market Trends
South Korea Luxury Hotels Market Share
South Korea Luxury Hotels Manufacturers
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 2.75 billion in 2023.
The market is projected to grow at a CAGR of 5.60% between 2024 and 2032.
The revenue generated from the South Korea luxury hotels market is expected to reach USD 4.48 billion in 2032.
The market is categorised according to the type, which includes business hotels, airport hotels, suite hotels, resorts, and others.
The market key players are Hotel Lotte Co., Ltd., Grand Hyatt Seoul, Conrad Hotels & Resorts, Hanwha Hotels & Resorts, Oakwood Premier, Pyeongchang Alpensia Resort, Josun Hotels & Resorts Inc., and ACCOR SA among others.
Based on the category, the market is divided into chain and independent.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124