logo
4 trips the ultrawealthy are taking right now, according to a luxury travel planner

4 trips the ultrawealthy are taking right now, according to a luxury travel planner

Even as travel demand has softened, one group is spending their way through the economic uncertainty: the wealthy.
Rich Americans have continued to spend on travel and other products even as others are cutting back, with airlines such as United and Delta reporting strong demand for premium bookings despite a broader slowdown in domestic travel demand. Major hotel brands like Hilton and Hyatt have also reported resilience in the luxury sector.
For the wealthy travelers who are still spending, there are four specific kinds of trips that are trending, according to Tom Marchant, the co-founder of the luxury travel company Black Tomato.
The average price of a trip organized by Black Tomato, which plans bespoke travel around the world, is about $40,000, Marchant said, adding the trips can range from $10,000 to hundreds of thousands.
Marchant told Business Insider that the company's clients often say, "I'm pretty agnostic on where I want to go, but this is how I'm looking to feel."
Rather than focus on specific destinations, he said there are certain emotions or experiences that luxury travelers are seeking. Earlier this year the company launched a " Feelings Engine" that incorporates AI to help users plan a trip around a feeling, whether they want to feel relaxed, challenged, free, motivated, or many other emotions.
Here are the four kinds of trips that Marchant said are trending right now.
1. The earned experience
Black Tomato has seen a rise in travelers seeking out challenging experiences that are "earned" through more than just how much they pay for them.
"There's this desire to challenge yourself, whether it's through a trek or a long journey or going to a part of the world where you're going to be overwhelmed by cultural stimuli," Marchant said.
These kinds of trips are often viewed by travelers as an antidote to the realities of day-to-day life, when just about everything is available at the click of a button, he said, adding that this type of trip is trending for solo travelers as well as couple and families who want to get out of their comfort zone.
For instance, the company organizes "Get Lost" trips in which the client is dropped off in a remote destination and left with supplies to navigate themselves back to civilization over the course of several days. Esther Spengler, a Black Tomato client, previously told BI her $13,000 "Get Lost" experience in Morocco was more of an "adventure" than a vacation.
Other earned experiences the company plans are river rafting in Papua New Guinea, mountain treks in Japan, or quad biking across the salt pans of Botswana.
2. In search of silence
For many wealthy travelers, the goal of a vacation is to get away from the noise of everyday life, Marchant said. While these travelers don't necessarily want to be off-grid, they want to be somewhere with minimal background noise or noise pollution.
"We've seen more and more people looking for places where there is genuine quiet — where they can go and reflect or just feel," he said.
There's been a growing trend of quiet-place conservation and travelers seeking out "quiet parks," places that provide opportunities to experience relative silence, or nothing but noises from the natural world.
In 2019, the non-profit group Quiet Parks International awarded Zabalo River in Ecuador as the first wilderness quiet park. Glacier National Park in Montana was the first US national park to receive the status.
Marchant said one aspect of this trend is "reading weeks," in which the traveler says they want to go somewhere quiet primarily so they can read and reflect without any distractions. He said reading trips are especially popular with business leaders who feel they rarely have time in their day-to-day life to enjoy books without getting pulled into work.
3. Bare witness
Traveling for natural phenomena is another trend among Black Tomato clients, with the company increasingly planning trips around natural events that could be a once-in-a-lifetime opportunity to see.
Several years ago the company built bespoke camps in the mountains of Patagonia so its clients could witness the total solar eclipse in luxury.
Traveling to witness natural phenomena like eclipses, the northern lights, or animal migrations could be especially appealing to the wealthy because it's likely to be very different from their daily life, Marchant said.
He noted that a lot of their clients live in LA, so traveling somewhere with a gorgeous villa, fancy pool, and nice weather is less likely to be appealing to them since it's what they already have at home.
4. Travel as therapy
The last major trend in luxury travel Marchant said he's seeing is "using travel as a kind of answer for some of life's challenges."
Increasingly, travelers are viewing their trips as a way to step back and reevaluate aspects of their life, whether that's work, family, romantic relationships, or their health.
"When you get taken out of the day-to-day, where you're immersed in everything, it gives you time to think on things and get perspective," he said.
Those types of trips might bring the client to a place where they can immerse in a community that has a different or interesting perspective on the building blocks of life.
One example would be travel to Blue Zones, locations where the local population tends to live longer, which have seen an increase in tourism since the concept was popularized.
The travel as therapy trend also aligns with the increase in self-improvement retreats or psychedelic retreats that have grown in popularity, especially with business leaders.
Marchant said he thinks the resources available to wealthy clients and how connected the world is makes them yearn for disconnection even more. He also said it makes them want to visit places that few other people have, adding, "There is still so many vast tracks in the world that you can do that in."
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Starbucks rival continues its US expansion
Starbucks rival continues its US expansion

Miami Herald

time4 hours ago

  • Miami Herald

Starbucks rival continues its US expansion

Whether you're a coffee lover or not, Starbucks is nearly impossible to ignore. With over 40,000 locations in 80 countries, it has become the most recognizable name in coffee worldwide; chances are, almost everyone has tried something from its menu at least once. However, Starbucks has experienced a noticeable decline in recent years. Sales are down, store traffic has slowed, and concerns about the company's long-term growth have prompted a major turnaround strategy to revive its business. Don't miss the move: Subscribe to TheStreet's free daily newsletter While Starbucks still dominates the market, smaller chains like Dutch Bros (BROS) , Scooter's Coffee, and 7 Brew Coffee have been gaining traction, steadily growing their customer bases. Now, Starbucks faces perhaps its most significant challenge yet. A powerful international rival has entered the U.S. market, threatening its position as a coffee leader. Related: Starbucks faces huge new rival Founded in 2017 in Beijing, Luckin Coffee (LKNCY) entered the coffee scene 46 years after Starbucks (SBUX) launched, and has already surpassed expectations. With over 22,000 stores, it's now the largest coffee chain in China, overshadowing Starbucks in that market. Although relatively unknown to Americans, Luckin Coffee immediately caught people's attention when it opened its first stores in New York City on June 30. It debuted two locations, one at 55 Broadway and another at 800 6th Ave., introducing its blue-and-white deer logo to the U.S. Image source:Luckin Coffee is known for its high-quality coffee and wide range of menu options at affordable prices. However, due to economic and currency differences, prices at its U.S. locations are understandably higher than in Asia. Starbucks has faced backlash over the last few months for raising its prices. In response to criticism, it simplified its menu and eliminated extra charges, a timely move that coincides with its rival's arrival in the U.S. Related: Starbucks' huge new rival opens first US stores When comparing their menus, Luckin Coffee clearly acknowledges Starbucks as a competitor. Both chains carry handcrafted coffee beverages, frappes, matcha drinks, and refreshers. Their prices are also very similar, with a 16-ounce drip coffee costing $3.45. And so far, U.S. consumers seem intrigued to give Luckin Coffee a chance. During its opening week, lines were out the door, with many people eager to try the new coffee shop in town. Keeping the momentum, Luckin Coffee has wasted no time expanding into the U.S. In a recent Instagram post, the company teased the grand opening of its third location in New York City, hinting that the new store will be "steps away from Columbus Circle" and asking people to guess the exact location. This sparked a wave of fans quickly flooding the comments section, with many commenting "901 8th Ave." More Food News: After bankruptcy, Starbucks rival plans aggressive expansionPizza Hut menu adds a completely new type of pizzaHershey teams up with Costco to make a dream candy combo The Chinese coffee chain also posted a picture to its Instagram story revealing the outside of the new coffee shop, which appears completed. Although Luckin Coffee has yet to provide an official date for the grand opening of its new location, it claims it will be opening very soon. To promote it, Luckin Coffee launched a scavenger hunt that will end on August 18 and allows participants to win prizes and free drinks. This suggests that the third store could open on Monday Aug. 18. Related: Starbucks plans major change to how it adds new menu items The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

Want your son to be a CEO? New study reveals the most powerful male name in the US — and you won't guess what it is
Want your son to be a CEO? New study reveals the most powerful male name in the US — and you won't guess what it is

New York Post

time12 hours ago

  • New York Post

Want your son to be a CEO? New study reveals the most powerful male name in the US — and you won't guess what it is

It's not Tom, Dick, or Harry. A new study has revealed that Robert is the most powerful male name in America, with a whopping 21 of the Fortune 500 company CEOs bearing the moniker. The analysis was conducted by Profit Engine, with the company interested in examining whether a person's name had an impact on their professional life. 'The patterns we discovered were quite striking,' Jason Morris, CEO of Profit Engline, proclaimed in a press release. 'While correlation doesn't equal causation, these results definitely make you wonder if there's something to the old saying about names shaping destiny.' 'These findings reveal something notable about representation in American corporate leadership,' Morris said. 'The complete dominance of traditional male names isn't a coincidence.' New Africa – Powerful Americans bearing the name include Disney boss Robert 'Bob' Iger and Boeing boss Robert Ortberg. Interestingly, however, no US president has ever been named Robert. 'Robert has been a powerhouse name for decades,' Morris declared. 'It projects authority and tradition, both of which are qualities that boards of directors clearly value when selecting leadership.' Since the year 2000, however, the classic name has fallen far from favor. That year, it was the 29th most popular name for boys born in the US, according to the Social Security Administration. By 2020, it had fallen to number 80. Last year, it slipped further and is now the 90th most popular boys' moniker in America. Profit Engine found that Fortune 500 CEOs were far more likely than the general public to possess traditional names. Dusan Petkovic – If you want your son to be a CEO and you're not a fan of the name Robert, the analysis shows that it's still best to stick to the classics. Profit Engine found that male Fortune 500 CEOs were far more likely than the general public to possess traditional names. After Robert, Michael was revealed to be the second most powerful name, with 19 Fortune 500 CEOs bearing the moniker. James, John, Christopher, William, David, Mark, Timothy, Brian, Andrew, Thomas and Scott followed in that order. 'These findings reveal something notable about representation in American corporate leadership,' Morris said. 'The complete dominance of traditional male names isn't a coincidence. It reflects decades of systemic patterns in who climbs the corporate ladder.' 'What's particularly telling is that we're not seeing the diversity of names that reflects modern America. No Aidens [or] Ethans, despite these being popular baby names in recent decades,' he added. 'This suggests either a generational lag or that certain naming conventions still carry unconscious advantages in professional settings.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store