Luxury travel is democratising. Contemporary luxury hotels are less about price, and not just about fluffy towels, stuffy grand lounges and stiff waiters. There is a rise of more affordable luxury, with intangible experiences including time, space, authenticity, community, individuality and mindfulness increasingly understood as luxury. This report is the second of two on post-luxury, providing examples on how lodging companies are innovating to cater to changing consumer demands.
The Post-Luxury Travel Part II: Unique Selling Points global briefing offers an insight into to the size and shape of the Travel market, highlights buzz topics, emerging geographies, categories and trends as well as pressing industry issues. It identifies the leading companies and brands, offers strategic analysis of key factors influencing the market from innovation, pricing, channel distribution to economic/lifestyle influences. Forecasts illustrate how the market is set to change and outlines the criteria for success.
Product coverage: Activities, Booking, Flows, Lodging, Travel Modes, Traveller Profiles.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Travel market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
- Key findings
- (Anti-)Premiumisation has reshaped the travel market
- Luxury is about unique experiences
- “Peak stuff” heightens the demand for experiences
- Lodging brands focus on experiences
- USPs of the post-luxury era
- Time: A luxury in an overworked, hyper-connected world
- Mobile apps to help save time
- Spending time with loved ones is becoming more important
- Digital detox to help travellers enjoy “time away”
- Space: A precious commodity
- 21st century co-living and travelling
- The luxury of smart design
- The search for real over staged
- Can global hotel chains provide truly authentic stays?
- “Less-than-slick” marketing becomes desirable
- More connected, but also more isolated
- Putting the travel community at the centre: Disrupting lodging
- Personalisation at the core of luxury travel
- Finding the balance between technology and the human touch
- Health as the new wealth
- Being mindful of, in and through nature
- Social responsibility as a luxury niche
Ultra vs affordable luxury
The travel market is no longer a dichotomy between mass and luxury. Through premiumisation of the mass market and anti-premiumisation of the traditional luxury market, we can now make a distinction between ultra luxury and contemporary affordable luxury.
Experiential luxury is the way forward
Luxury travel is no longer simply about price or material goods. The growing importance of experiences over “stuff” means that the understanding of behavioural drivers is changing. The experience of time, space, authenticity, community, individuality and wellbeing is changing the perception of luxury.
Time and space are increasingly limited
Modern society places increased pressure on people’s time. All the while, space is becoming an increasingly valued commodity. Limited time and space are changing what people expect from their travels. Time-efficient booking and allowing time with family and oneself when away are increasingly important. Well-designed travel spaces can become a true luxury.
The search for “real”
With the rise of the internet has come the rise of savvy consumers who better understand the difference between real and staged. While peer-to-peer brands can promote themselves as authentic, can hotels make the same claims?
The non-paradox between community and individuality
On the one hand, being part of a community is important, but at the same time understanding one’s individuality is key to retaining customers. Using technology can enhance the feeling of community, while at the same time offering a personalised service.
Being good to body and soul
Mindfulness, for oneself and towards others, is a modern luxury. Health is the new wealth. The feeling of social responsibility is growing, but there remain pitfalls in tapping into this market.