Luxury Travel & Lifestyle Trends

There are increasingly more articles in the mass media about hotels not rate-cutting or offering value adds – a sign that times are starting to change. So what’s the deal? Quality seems to making a comeback as a motivator in buying decisions of the affluent (though in the case of a few brands such Hermes, that was never a factor, as it was one of the luxury brands that had the lowest drop in sales in this year’s Great Recession).

With 300 million tourists annually, religious tourism is the fastest growing tourism niche worldwide, according to the World Tourism Organization.

Until now, being “green” has predominantly meant selling eco-friendly products or services. But this year’s tough economy presents a new opportunity for businesses to take environmental stewardship to a new level – by helping customers buy less stuff. But it has to be the “right stuff.”

While it may sound odd to buy virtual merchandise - whether it be buying a few outfits, shoes, jewelry or getting your nails done – these are among a plethora virtual merchandise that one will never hold in their hand. To proponents, the beauty of such low cost purchases is that they are inexpensive entertainment, and work the same magic as a $30 game, a movie or a salon treatment.

Value added alone is not enough. Early in 2009, many marketers thought that offering “value adds” would be enough - i.e. a four-night stay for the price of three, a resort credit, a free dessert when ordering an entrée, etc. As the year progressed, it was obvious that these initiatives weren’t enough. The overall rate had to be priced right as well.

First it was hotel bed linens, then spa-like bathrooms. Now it seems that hotels are influencing our interior and exterior home décor, design elements that only used to be seen at five star hotels and resorts.

Recently I was a guest speaker at a Preferred Hotel Group conference, and a question on the minds of many was, “Do the affluent use social media?”

KWE group’s President & Chief Strategist, Karen Weiner Escalera, was recently interviewed by Hotel Vikas, a magazine for the American hospitality industry. In the interview, Karen highlights steps to help hoteliers in today’s challenging economy, the importance of value even to the affluent, rethinking strategic market/product positioning, and where the hotel industry is headed. We invite you to read the interview in its entirety to learn more.

Want to get off the tourist trail? You’re not alone. Today’s travelers are looking to collect a string of experiences from their journeys. A trip is much more meaningful for the participant if they are more than just a witness to the attractions of a destination and can instead have an experience that they will remember forever.

It’s permeating everything from gifting and wedding registries to personal enrichment and self-reinvention, so that creativity and artistic expression are accessible to everyone, not just reserved for the affluent.