luxury travel
Beyond the ‘Crazy Rich’: Expedia Group Reveals Mass-Affluent Asian Travelers Trend Set To Boost Global Travel Industry
Expedia Group | October 11, 2024
Four in five (81%) mass-affluent Asian travelers report that travel is still a priority despite inflation. On average, mass-affluent Asian travelers plan to visit four destinations over ten days for their next international trip, with Japan, the United States, Canada, France, South Korea, Australia, and Germany leading the list. They plan to dedicate nearly a quarter of their income to travel in the next 12 months. Nearly half seek airline and room upgrades, with two in five opting for first class or business class seating. Seattle, October 11, 2024 – Today, Expedia Group unveiled its study highlighting the preferences of t...
Fulfilling the Elevated Standards of the Changing Luxury Stay
Frank Pitsikalis | July 9, 2024
What one guest considers as “luxury” is different from another and for that reason, luxury hotels must offer their guests a variety of choices mapped to their individual preferences to deliver a hyper-personalized luxury experience. Choice is critical for today’s luxury travelers – choice of where to travel, where to stay, what kind of experience they wish to have, and how they want to interact with a property. As noted in a recent EHL Insights article, We keep defining the word luxury but ultimately it has to be defined by the customer. While the level of service, convenience, and attention rank high on the luxury spectrum, prov...
New Report Reveals Changing Face of Luxury Travel in Asia Pacific
Marriott International, Inc. | July 2, 2024
The Luxury Group by Marriott International launches extensive research among affluent travelers across six markets 68% spending more on leisure travel with 74% respondents planning an intra-regional holiday within Asia-Pacific (APAC) Australia is the top destination in next 12 months ahead of Japan, with 46% planning to visit Indian HNW are driving luxury travel with 89% Indians planning to spend more in next 12 months High end gastronomy is the primary driver for luxury travel with 88% planning holidays around food Three new personas of luxury traveler defined As the Asia Pacific region continues to be the growth engine f...
The Future of Luxury Experiences: Where Luxury Meets Hospitality
Dr. Matthias Fuchs | April 9, 2024
By Dr. Matthias Fuchs The luxury industry is undergoing a change. As a result, its products are reaching more and more people. In order to avoid losing exclusivity and uniqueness, many brands are now relying on ‘experiences’. These are enabling them to strengthen their relationships with their customers, offering them a unique experience without sacrificing status or reputation. The luxury industry is undergoing a phase of transformation. While in the past few used to buy luxury items, many more people are now spending their money on high-end brands. Evidence of this can be seen, for example, with the French fashion house Hermès. ...
InterContinental Hotels & Resorts Unveils a Distinctive Global Brand Evolution
IHG | October 9, 2023
InterContinental demonstrates its pioneering spirit while paying homage to its rich heritage, paving the way for the luxury traveller of tomorrow. LONDON: InterContinental Hotels & Resorts, the world's first and largest international luxury hotel brand, is embarking on an exciting new chapter with the launch of an extensive global brand evolution announced today. As part of IHG Hotels & Resorts' luxury and lifestyle portfolio, InterContinental is set to yet again reimagine the luxury travel experience, striking a harmonious balance between freedom and familiarity. This transformative journey is driven by the brand’s long held ...
Virtual Reality in Hospitality: A New Dimension of Luxury
Kevin D’costa | August 17, 2023
Immersive technologies such as virtual reality (VR) are becoming more popular by the day, redefining the entertainment industry with innovations like never before. Spatial computing, Metaverse and other new virtual adventures may have been more famous for their entertainment-based applications, but businesses increasingly realise their potential as an operational tool. VR is specifically helpful in delivering critical information to potential customers before making purchase decisions. But what are the other out-of-the-world experiences that VR promises to the hospitality industry? 1. Virtual travel Virtual explorations are one of th...
For Young Affluents, The Experience Really Is ‘Everything’
Matt Ferebee | May 25, 2023
By Matt Ferebee The world of leisure travel continues to change, particularly as it relates to younger affluent travelers. Raised on the internet and fed a steady stream of content via social media, these younger guests are seeking out travel that delivers what they have become so accustomed to online and on social: relevant content that is as immediate as it is immersive. In the context of hotels and resorts, that ‘content’ includes everything destination-related that a guest experiences before, during and after their stay. This desire to be surrounded by a more integrated, memorable experience is not, of course, a new expectation ...
Growth in Worldwide Wealth Vaults Global Luxury Travel to New Heights Creating Increased Investor Interest
JLL | May 17, 2023
JLL Hotels & Hospitality Group releases The Evolution of Global Luxury Hospitality report CHICAGO, May 17, 2023 – The global luxury hospitality industry is undergoing a transformation as luxury hotels have risen in popularity in tandem with rising global wealth and consumers’ increased prioritization on immersive experiences. The number of luxury hotel brands and supply have increased by more than one million rooms over the past 40 years. Investors have taken notice as luxury hotels have become an increasingly institutional investment and changing consumer preferences give rise to new investment opportunities. As the world becomes i...
