News for the Hospitality Executive
New Study by Preferred Hotel Group™ Suggests that Baby
December 8, 2010 - When the first wave of baby boomers turns 65 on January 1, 2011, they will represent a monumental question for the travel industry: How will this healthiest, wealthiest and most active senior generation in history behave? That was exactly the question posed by Preferred Hotel Group™.
"The answer is extremely encouraging," says Lindsey Ueberroth, President of Preferred Hotel Group. "Unlike their parents' generation, baby boomers don't consider themselves 'old' at 65," she said. "Our findings show that just the opposite is true. The Boomer generation is more physically active than any in history. They are veteran travellers. And now, with more time available as they reach traditional retirement age, they say they are going to intensify their pursuit of travel, new experiences and adventure."
Some of the findings are surprising: boomers constitute almost one-half (47%) of active American leisure travellers. Two-thirds (66%) have taken a leisure trip to celebrate a life event like an anniversary or birthday. Other findings are more subtle: boomers are more likely to travel as a couple and, since 40% are grandparents, more likely to travel in multi-generational trips. More than two-thirds (68%) have a valid passport.
Ueberroth presented these findings at the International Luxury Travel Market (ILTM), the leading annual business-to-business event for the global luxury travel community. Preferred Hotel Group teamed up with Ypartnership, a leading research company in the travel, leisure and lifestyle category, to study the behaviours of more than 2,500 adult travellers. The specific boomer generation data was derived from a subset of 1,185.
The study findings of this seemingly insatiable generation include:
Ueberroth is highly optimistic. "There are 77 million boomers. Every day for the next 19 years, more than 11,000 boomers will celebrate a 65th birthday," Ueberroth said. "Preferred Hotel Group believes that the travel industry is on the verge of a true golden age. The opportunities to serve the boomers are vast. We are going to seek out the boomers. We are going to serve them well and often. And, we are going to share in the growth and prosperity that they will generate. This is a turning point."
In 2011, Preferred Hotel Group will introduce a number of ongoing promotions celebrating boomers' appetite for travel. Beginning in January, a "Happy Birthday Boomer" package will provide compelling incentives for them to engage their newfound freedoms at Preferred Hotel Group members around the world. In addition, an interactive "Bucket List" contest will fulfil a once-in-a-lifetime holiday. The company is also developing a targeted advertising campaign focused on these sophisticated, young-at-heart travellers.
Hotel Group Promotes Lindsey Ueberroth to President, In a Planned
Succession Intended to Sustain the Family-owned Company's Legacy /
|IndeCorp Undergoing Corporate Name Change to the Preferred Hotel Group; Adding the Boutique Brand / May 2005|