luxury hospitality
Luxury Hospitality: Trends, Challenges, and Best Practices
EHL Insights | September 8, 2023
By Dr. Sowon Kim, Dr. Florent Girardin, Dr. Matthias Fuchs Luxury is the new black. Post the pandemic, the global luxury industry recorded sales of €1.15 trillion in 2021, and continued its growth in 2022 by 19%-21% (Bain & Company, 2023). Luxury hospitality, luxury cars, and personal luxury goods represent over 80% of the total market. In this article, we zoom into the world of luxury hospitality to examine the trends that shape this industry, the challenges that are associated with the trends, and the best practices that illustrate how firms are managing such challenges. The trend of personalized meaningful experiences The luxu...
Luxury Hospitality: What Makes a Luxury Hotel Today
Dr Suzanne Godfrey | July 5, 2023
By Dr. Suzanne Godfrey Luxury hospitality: what makes a luxury hotel? A palace or a 5-star hotel? Hotels around the world are often referred to as palaces or ‘grand dames’ – vestiges of a bygone era when grand hotels were associated with luxury and glamour. But the concept in its true sense is quintessentially French and in 2010 the French Tourism Office bestowed the title on establishments that met certain specific criteria. So what makes a palace different from a 5-star hotel today – or, for that matter, a 6- or 7-star establishment, although there is no official category as such? Luxury can be defined rationally based on hi...
3 Tips We Learned From a Top Luxury Hotelier
INTELITY | December 13, 2022
From the latest Inside the Industry, redefining luxury with the inclusion of technology By: Matthew Lynch As a hotelier, you know there are many ways to define luxury. From a property’s physical space to its service culture standard, there’s no question that luxury lives in the details. But can you define a hotel as luxurious without modern, interactive technology? Perhaps luxury hotelier, Vaughn Davis, can offer some insight. With over a decade of experience at leading luxury lifestyle hotels in New York and Los Angeles, Vaughn is a forward-thinking, modern-day savant with exceptional vision and consistent attention to detail. A...
Redefining Luxury and Culture in Hospitality
Kimberly Yoong | August 15, 2019
The hospitality industry has been abuzz with the growing need to redefine the notion of luxury to cater to an increasingly diverse clientele. Gone are the days when enjoying a luxurious experience meant indulgent in-room candlelight dinners and a rose petal-filled jacuzzi; today’s travelers seek authenticity and experiential travel. Eugenio Pirri, Chief People & Culture Officer at the Dorchester Collection, emphasizes just that as he tells the Young Hoteliers Summit in an interview, that luxury has to be defined by the customer. Hoteliers often say that they are customer-focused. However, Pirri also highlights the need to take it a s...
Luxury Hospitality and the Risk of Obsolescence
Stuart Pallister | February 4, 2019
By Stuart Pallister Luxury hospitality is at risk of becoming obsolete, according to PwC Global industry leader for hospitality and tourism, Nicolas Mayer. That's because it no longer fulfills the 'needs and desires' of clients that they couldn't get elsewhere. Mayer told EHL students recently in classroom sessions that, in decades gone by, luxury had involved 'standard expectations' about security, beautiful surroundings and service levels that guests were willing to pay for. Whereas now, this brand promise and standardization, this consistency promise, doesn't need to be obtained from a luxury operator anymore. You can get it online a...
