Luxury Travel Trends
December 5th, 2007 by Scott
In a recent article on hotelmarketing.com, Karen Escalera (from the KWE Group) highlights 10 top trends for luxury travel in 2008. In the meantime, check out the trends below. My comments are in parenthesis.
- Traditional demographics won’t define luxury consumers
- Mature affluents are gravitating to “stealth wealth.” (Isn’t this the truth! Forbes even highlighted this)
- Relationships with family and friends take center stage.
- Creativity checks in. (We interviewed Heather Bayer, from Cottage Link Rental Management in Ontario Canada, and their company group is experimenting with many creative methods to attract consumers during the shoulder and off seasons like partnering with professional chefs to cook dinners)
- Concierges are king. (Les Conceirges, out of SF, would agree. And so would the Kiertsu Forum who just backed them with $2.4M in funding).
- Altruism and social responsibility are back.
- Health, well-being and looking good continue to move up in financial priorities.
- Saving time. This is the greatest luxury in our 24/7 world.
- Big money follows culture and is big news.
- The affluent are becoming sated with product and looking for unique experiences. (We’ve noticed this as travel requests are more related to total vacation experiences which include learning and living like the locals)
- Space, space and more space is luxury. (What? Is 5,000 sq ft not enough for a family any more? Of course not!)
For the entire article without any commentary please click here. To follow other trends, insights and information from the KWE Group, check out their blog KWE Group Blog.
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