The luxury segment of the hotel industry has been through a rough couple of years, but two new properties and a total of 54 have earned the coveted fifth star from Forbes Travel Guide.

Falling Rock at Nemacolin Woodlands Resort in Farmington, PA

The newcomers are the Island Shangri-La Hotel in Hong Kong and Falling Rock at Nemacolin Woodlands Resort in Farmington, PA.

“It’s a testament to the industry as whole that hotels have continued to drive that superior experience during hard times,” says Shane O’Flaherty, president and CEO of Forbes Travel Guide, formerly the Mobil Travel Guide.

O’Flaherty says during good times, like in 2007 and 2008, approximately four to six new properties receive the five-star rating and 16 to 20 join the list of four-star winners, but during the downturn those numbers have fallen to just two being added to the five-star list this year and 12 at the four-star level.

“We’re seeing properties doing more with less,” he says. “We’ve seen a back-to-the-basics approach with more attention on the staff providing engagement with the consumer—those soft touch points that don’t require spending a lot of money.”

He says today’s customers aren’t as interested in extravagance and opulence as much as finding a place that will provide a wonderful guest experience. He adds although many hotels have cut back on flowers, automatic turn-down services and other costly amenities and decor, even in some cases closing entire floors, the guest experience has not suffered.

O’Flaherty believes remnants of the anti-luxury rhetoric and so-called AIG Effect are still being felt by the hotel and meetings industries, but it’s less flagrant than it was during the depths of the downturn.

There are now 150 four-star and 47 five-star properties in North America. Falling Rock, the latest to join the list, is a 42-room boutique hotel and clubhouse next to Nemacolin’s famed Mystic Rock golf course. It opened in 2004 and features 24-hour butler service. It’s designed and named after the style of legendary architect Frank Lloyd Wright.

“This is truly a remarkable achievement and is testament to the dedication of all of our associates and the leadership of our executive team,” Nemacolin Woodlands President and owner Maggie Hardy Magerko said in a release. “Our vision has been to create one of the top resort destinations in the world and these ratings qualify our vision and recognize the remarkable efforts of our staff.”

Forbes rates approximately 3,000 properties each year in more than 750 criteria, with 75 percent of the overall score based on the service evaluation and 25 percent on the facility inspection.

Check out the next page for the complete list of lodging properties, restaurants and spas to earn Forbes four- and five-star ratings. Check out forbestravelguide.com for more information on the ratings.