A hotel is defined as “an establishment that provides paid lodging on a short-term basis.” (See 1.)
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.
There are many gorgeous Luxury Hotels and Condo hotels worldwide. Because most condo hotels are or were luxury hotels, you get outstanding amenities and spectacular views in wonderful locations.