5 Luxury Takeaways From the Latest Hotel Earnings Season
Photo Credit: The Waldorf Astoria Bali. Parent company Hilton is working on developing another luxury brand. Hilton Worldwide
Skift Take
The luxury hotel market continues to evolve. While many of the big hotel companies seem pretty happy with their portfolios, we could see significant changes at Hilton over the coming years.
The big hotel companies love brands. They love buying them, and they love creating them. It enables them to grow market share by cornering new parts of the market that their existing brands supposedly don't cover, and the luxury segment remains an important battleground.
In their own way, each of the leading hotel companies that have a significant luxury presence have made big strategic changes over the past few years, making the sector more competitive than ever.
Marriott is Still Way Out In Front
Marriott’s megamerger with Starwood put it way out in front of the competition in terms of luxury hotels. The deal brought in the likes of St. Regis and the Luxury Collection to give the enlarged company a pretty forbidding high-end portfolio.
And three years later CEO Arne Sorenson believes the company is continuing to expand its lead in luxury lodging. He claims to have “nearly double the luxury portfolio of our next leading competitor.”
Marriott so far this year has added
