Luxury Travel is a high-end, upscale travel experience that provides the opportunity to indulge in activities such as scuba diving, skiing and golf. Those who seek this kind of experience typically have a high net worth, meaning that they have significant financial assets and are able to spend accordingly.
Often, this demographic is interested in a local experience during their trip that reflects the culture of the place they are visiting. For example, hotels that have taken note of this include Andaz Mayakoba in Mexico where local crafts can be seen throughout the hotel, and tequila tastings are available for guests to enjoy.
This group of travellers is also interested in storytelling, performance arts and history and culture and heritage. Whether it be an exclusive tour of a movie location or a safari adventure, these experiences are often high on their priority list.
These kinds of unique, experiential vacations can be found in every continent and have become more accessible to those with the means. This is due to an increase in disposable incomes for some and a shift in priorities for others, with millennials leading the way.
Luxury travel marketers are taking note of these changing trends in order to market to the right audience. Unlike mass marketing, which is focused on the greatest common denominator, this segment is looking for products that are tailored to them. Larry Pimentel of Azamara Cruises looks to professional polls and surveys for trend info on his clientele, and Kristi Jones of Virtuoso feels that creating a connection with clients is essential.