The continued global growth of the luxury hotel industry

Luxury  travel seems to have prospered in recent years and luxury hotels in the US are enjoying high levels of occupancy, enabling them to push  prices up rapidly –  up 7.3% this year, according to PricewaterhouseCoopers. As Starwood Capital Group develops the Crillon chain and the new Baccarat Hotels & Resorts, Marriott International is bringing us more JW Marriotts and Ritz-Carltons, most notably in China, as well as teaming up with Ian Schrager with an international chain of 100 small hotels.   Can we expect this growth in the luxury hotel industry  to continue unabated?