No strangers to being pampered on the road, the rich and famous in recent years jumped into the luxury-hotel game—just in time to watch the economy slide into recession.

But neophyte hoteliers such as entertainer Gloria Estefan, eBay Inc. founder Pierre Omidyar and Microsoft Chairman Bill Gates can rest easier: As business travel starts to pick up, high-end hotels are rebounding, offering their famous owners some solace that their purchases will be more than costly trophy assets.

The...