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Imagine resting your head after a long day of meetings on a 1,000-thread-count cotton pillowcase while watching your favorite movie on a 42-inch LCD TV fitted with a Bose audio system, or just enjoying the view of Japan’s Imperial Palace Gardens with Mount Fuji in the distance. Guests willing to pay top dollar — about $19,590, plus service and tax, per night — can do just that in the 2,896-square-foot Presidential Suite at the Shangri-­­La Hotel, Tokyo.

Such comforts help the Shangri-La win the top spot in the World’s Best Hotels, Institutional Investor’s annual ranking of the top 100 hotels on the planet. The establishment’s luxurious suites and prime setting are noteworthy, but they are far from unique in an industry that keeps raising the bar.

Ritzy rooms and restaurants used to be enough to lure guests to the world’s leading hotels. Today, however, the überwealthy are demanding unique travel experiences, personalized attention and out-of-this-world accommodations. And they are willing to pay just about anything for them.

Affluent business and leisure travelers are driving the recovery of the hotel industry, says Scott Berman, U.S. hospitality and leisure practice leader at Price­waterhouseCoopers in Miami. Growing demand for high-quality accommodations has driven a rise of 5 to 10 percent in U.S. room rates in the past year, he adds.

“Corporate groups, who left top hotels for dead in 2009, have returned,” Berman says. “Now they like to show off and hold events in luxury properties, many of which are resorts.”

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To keep up with the superrich Joneses, luxury hotels and resorts have to provide guests with enduring memories, preferably the kind that can easily be shared on social media. Whether guests are traveling for business or pleasure, they are posting pictures and stories for friends, family, colleagues and the general public, says Edwina Kluender, director of communications at the Mandarin Oriental, San Francisco, which ranks No. 11.