Economically speaking, a luxury good is one for which demand increases in proportion to rising income - hence, the richer the world becomes, the greater the demand for luxury items will be. This applies perhaps uniquely to luxury hotels and luxury travel, as the number of holidays people have been taking has risen dramatically in the last couple of decades.
So, as travel and tourism has become increasingly important within people's lives, the prevalence of luxury hotels in the world's most visited destinations has skyrocketed. But while every four-star hotel may claim to provide luxury, the true nature of a luxury hotel is harder to pinpoint. It relies on providing an original service, as well as an authentic experience, pleasing design and the utmost comfort.
Arguably, the top 5 luxury destinations in the world are London, New York, Paris, Rome and Dubai. London, for example, possesses many eminent luxury hotels. These include the Mandarin Oriental Hyde Park in Knightsbridge, which overlooks Hyde Park and includes gourmet cuisine and a spa; Brown's Hotel in Mayfair, which was famously refurbished by Olga Polizzi, who also redesigned Tresanton on the Cornish Coast; and, of course, The Dorchester also in Mayfair. Luxury hotels in New York include the Four Seasons, which is home to a spa, spectacularly designed suites and is even child-friendly; and Carlyle in New York's Upper East Side, the hotel in which JFK had his notorious affair with Marilyn Monroe.
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