Larry and Adam Mogelonsky | February 10, 2021
By Larry and Adam Mogelonsky Every hotel property aspires to be luxury in one way or another, even as the word ‘luxury’ has become a bit overused in the past decade. As such, there are always new entrants testing out concepts and evolving various features, amenities or service offerings, all in an attempt to get one step ahead of the curve. The pandemic has, of course, shifted priorities but the pursuit of luxury still remains as a means of capturing guests’ hearts. Concurrent to this arms race amongst traditional hotels – and now also alternative accommodations – it is important that hospitality brands consider those accommod...
HEBS Digital | July 16, 2018
World outbound travel is booming and, according to IPK's World Travel Monitor®, the global travel industry set new records over the first eight months of 2017. The luxury travel sector in particular has embarked on a paramount transformation fueled by changing consumer preferences that will have far-reaching ripple effects in the years to come. While luxury travel only accounts for 7% of all international trips, it encompasses nearly one-fifth of global travel spending due to its high prices. Bouncing back from an underperforming 2016, the International Luxury Hotel Association (ILHA) forecasts that the global luxury travel market i...
EyeforTravel | September 27, 2017
Over the course of a year, luxury consumers spend over six times as much on travel than the average consumer and the trend is for the disparity to get even bigger finds EyeforTravel's The Global Luxury Travel Consumer report. Whilst the average traveller spends $1,690 per trip, luxury consumers on average lavish $5,365 per trip according to the report. The different levels of spending become even bigger over the course of a year as luxury consumers take double the trips per year at just over 5.6, meaning a per annum outlay of over $30,000, or six times the average traveller's spend. This gap is more likely to widen than diminish says th...
Resonance Consultancy | January 26, 2016
NEW YORK, NY (PRWEB) JANUARY 26, 2016 – A new study conducted by international travel and tourism consultancy Resonance Consultancy identifies the most appealing destinations and luxury travel trends of the top five percent and one percent of U.S. travelers. In an analysis of 1,667 travelers with a household income of at least $200,000 or net worth of $2 million, Resonance found the top five percent take 14.3 trips per year (half for business and half for leisure, totaling an average of 29 days per year). U.S. travelers overall take an average of 4.8 trips. Analyzing spending habits of the top five percent, it was revealed that th...
MyTravelResearch.com | September 8, 2015
Increasing inequality in wealth is one of the factors changing the nature of luxury travel. Social and political forces such as the Occupy Movement and government austerity cuts are driving some of the rich to spend their wealth more privately. The same forces have also encouraged the rise in socially responsible luxury travel activities. The trend to private consumption away from public scrutiny can be seen in the increase in purchases of mega yachts and private islands. Technological change and its impact on workplace communications has also triggered a counter demand among the rich to de-tech completely while on holiday, said luxury ...
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