Latest news with #LuxuryTravelReport
Travel Daily News
22-05-2025
- Business
- Travel Daily News
Preferred Hotels identifies the five emerging forces of luxury travel
New survey fromn Preferred Hotels & Resorts reveals luxury travellers resist the 'beige-ification' of travel and favour distinctive, curated experiences – with loyalty programmes remaining a top priority. LONDON – Preferred Hotels & Resorts released its first Luxury Travel Report – a comprehensive luxury consumer trends study developed in partnership with The Harris Poll. The findings affirm that the desire for travel remains robust, with luxury travellers planning an average of eight leisure trips this year – including three international journeys – and over half expecting to spend more on travel than in 2024. The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travellers are investing not just money but meaning into their journeys. Luxury travellers seek immersive, curated experiences that feel personal and enduring – avoiding generic, mass-produced offerings in favour of authenticity and emotional connection. The Luxury Travel Report identifies The Five Emerging Forces of Luxury Travel, signalling a new era of expectations: The Beige-ification of Travel Is the Industry's Wake-Up Call Luxury travellers are turning away from sameness in design, service, and experience – nearly 70% say modern luxury hotels have lost their soul to standardisation. The rise of 'dupeΣθρωευs culture' and algorithm-driven itineraries has fuelled a wave of 'destination disillusionment,' where cities and stays feel indistinguishable. Today's affluent traveller craves the unrepeatable: places that excite, environments that surprise, and experiences rooted in individuality. Nearly three-quarters say they won't pay for luxury accommodations that feel generic. Legacy Moments Are the New Luxury Currency Luxury is less about accumulation – it's about transformation. Today's affluent travellers seek rare, authentic experiences that fundamentally shift their worldview and create lasting four-in-five say that insider connections unlock the most unforgettable travel moments and 64% prefer to navigate a destination with advice from locals rather than AI-driven concierge services and digital guides. Curation is the New Standard of Luxury Curation is now as essential as five-star service. Over 90% of luxury travellers say the best journeys feel effortless yet are expertly crafted, with 89% expressing interest in seeing local charm reflected in hotels. Travel advisors are the new power brokers, with 84% of survey respondents agreeing that a trusted travel advisor is more valuable than unlimited internet research. Heritage Is the New Frontier Luxury travellers don't want to just observe history – they want to be part of it. Over 90% seek experiences that immerse them in history and culture, favouring heritage-rich stays. Additionally, with 71% planning multi-generational trips in 2025, demand continues to rise for spacious accommodations that foster connection to each other and their own family roots. Loyalty Programmes Are Lifelines to Consistency and Customisation Amid economic pressures and rising costs, loyalty has become more valuable than ever. For 82% of luxury travellers, loyalty programmes are very important to ensuring hotel quality, while nearly two-thirds say a great past stay drives repeat bookings. Today's loyalty isn't transactional – it's deeply personal, driven by human touch, customisation, and consistent excellence. 'The Luxury Travel Report by Preferred Hotels & Resorts deepens our understanding of the ever-evolving desires of luxury travellers, which is a critical step in reinforcing authenticity and spotlighting the unique, curated experiences that can be found throughout our global portfolio,' said Lindsey Ueberroth, Chief Executive Officer of Preferred Hotels & Resorts. 'We are guided by an ethos that celebrates an independent spirit, transformative experiences, and we remain committed to delivering authentic, memorable stays through our 'Believe in Travel' ideology. Through the Report, we hope to inspire meaningful experiences that resonate with the luxury travel set.' The Luxury Travel Report was conducted by The Harris Poll on behalf of Preferred Hotels & Resorts from February to March, 2025, among over 500 affluent U.S. travellers. Respondents met criteria including an annual household income of more than $250,000, at least $1 million in total assets, and a minimum spend of $10,000 on leisure travel annually.
Yahoo
15-05-2025
- Business
- Yahoo
Preferred Hotels & Resorts Launches the Luxury Travel Report 2025
New survey reveals luxury travelers resist the 'beige-ification' of travel and favor distinctive, curated experiences – with loyalty programs remaining a top priority NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- Preferred Hotels & Resorts, the world's largest independent hotel brand representing more than 600 hotels across 80 countries, today released its first Luxury Travel Report — a comprehensive luxury consumer trends study developed in partnership with The Harris Poll. The findings affirm that the desire for travel remains robust, with luxury travelers planning an average of eight leisure trips this year — including three international journeys — and over half expecting to spend more on travel than in 2024. The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travelers are investing not just money but meaning into their journeys. Luxury travelers seek immersive, curated experiences that feel personal and enduring— avoiding generic, mass-produced offerings in favor of authenticity and emotional connection. The Luxury Travel Report identifies The Five Emerging Forces of Luxury Travel, signaling a new era of expectations: 1. The Beige-ification of Travel Is the Industry's Wake-Up CallLuxury travelers are turning away from sameness in design, service, and experience—nearly 70% say modern luxury hotels have lost their soul to standardization. The rise of 'dupe culture' and algorithm-driven itineraries has fueled a wave of 'destination disillusionment,' where cities and stays feel indistinguishable. Today's affluent traveler craves the unrepeatable: places that excite, environments that surprise, and experiences rooted in individuality. Nearly three-quarters say they won't pay for luxury accommodations that feel generic. 2. Legacy Moments Are the New Luxury CurrencyLuxury is less about accumulation – it's about transformation. Today's affluent travelers seek rare, authentic experiences that fundamentally shift their worldview and create lasting memories. Over four-in-five say that insider connections unlock the most unforgettable travel moments and 64% prefer to navigate a destination with advice from locals rather than AI-driven concierge services and digital guides. 3. Curation is the New Standard of LuxuryCuration is now as essential as five-star service. Over 90% of luxury travelers say the best journeys feel effortless yet are expertly crafted, with 89% expressing interest in seeing local charm reflected in hotels. Travel advisors are the new power brokers, with 84% of survey respondents agreeing that a trusted travel advisor is more valuable than unlimited internet research. 4. Heritage Is the New FrontierLuxury travelers don't want to just observe history – they want to be part of it. Over 90% seek experiences that immerse them in history and culture, favoring heritage-rich stays. Additionally, with 71% planning multi-generational trips in 2025, demand continues to rise for spacious accommodations that foster connection to each other and their own family roots. 5. Loyalty Programs Are Lifelines to Consistency and CustomizationAmid economic pressures and rising costs, loyalty has become more valuable than ever. For 82% of luxury travelers, loyalty programs are very important to ensuring hotel quality, while nearly two-thirds say a great past stay drives repeat bookings. Today's loyalty isn't transactional — it's deeply personal, driven by human touch, customization, and consistent excellence. 'The Luxury Travel Report by Preferred Hotels & Resorts deepens our understanding of the ever-evolving desires of luxury travelers, which is a critical step in reinforcing authenticity and spotlighting the unique, curated experiences that can be found throughout our global portfolio,' said Lindsey Ueberroth, Chief Executive Officer of Preferred Hotels & Resorts. 'We are guided by an ethos that celebrates an independent spirit, transformative experiences, and we remain committed to delivering authentic, memorable stays through our 'Believe in Travel' ideology. Through the Report, we hope to inspire meaningful experiences that resonate with the luxury travel set.' The Luxury Travel Report was conducted by The Harris Poll on behalf of Preferred Hotels & Resorts from February to March, 2025, among over 500 affluent U.S. travelers. Respondents met criteria including an annual household income of more than $250,000, at least $1 million in total assets, and a minimum spend of $10,000 on leisure travel annually. Explore the full findings of The Luxury Travel Report 2025 About Preferred Hotels & ResortsPreferred Hotels & Resorts is the world's largest independent hotel brand, representing more than 600 distinctive hotels, resorts, residences, and unique hotel groups across 80 countries. Through its curated global collections, Preferred Hotels & Resorts connects discerning travelers to the singular luxury hospitality experience that meets their life and style preferences for each occasion. Every property within the portfolio maintains the high-quality standards and unparalleled service levels required by the Preferred Hotels & Resorts Integrated Quality Assurance Program. The I Prefer™ Hotel Rewards program, Preferred Residences℠, Preferred Pride℠, and Preferred Golf™ offer valuable benefits for travelers seeking a unique experience. For more information, visit CONTACT: Media Contact: Kate Calciano Coordinator, Public Relations Preferred Hotels & Resorts Office: + 1 646-465-9786 Mobile: +1 929-215-6608 kcalciano@
Associated Press
15-05-2025
- Business
- Associated Press
Preferred Hotels & Resorts Launches the Luxury Travel Report 2025
NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- Preferred Hotels & Resorts, the world's largest independent hotel brand representing more than 600 hotels across 80 countries, today released its first Luxury Travel Report — a comprehensive luxury consumer trends study developed in partnership with The Harris Poll. The findings affirm that the desire for travel remains robust, with luxury travelers planning an average of eight leisure trips this year — including three international journeys — and over half expecting to spend more on travel than in 2024. The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travelers are investing not just money but meaning into their journeys. Luxury travelers seek immersive, curated experiences that feel personal and enduring— avoiding generic, mass-produced offerings in favor of authenticity and emotional connection. The Luxury Travel Report identifies The Five Emerging Forces of Luxury Travel, signaling a new era of expectations: 1. The Beige-ification of Travel Is the Industry's Wake-Up Call Luxury travelers are turning away from sameness in design, service, and experience—nearly 70% say modern luxury hotels have lost their soul to standardization. The rise of 'dupe culture' and algorithm-driven itineraries has fueled a wave of 'destination disillusionment,' where cities and stays feel indistinguishable. Today's affluent traveler craves the unrepeatable: places that excite, environments that surprise, and experiences rooted in individuality. Nearly three-quarters say they won't pay for luxury accommodations that feel generic. 2. Legacy Moments Are the New Luxury Currency Luxury is less about accumulation – it's about transformation. Today's affluent travelers seek rare, authentic experiences that fundamentally shift their worldview and create lasting memories. Over four-in-five say that insider connections unlock the most unforgettable travel moments and 64% prefer to navigate a destination with advice from locals rather than AI-driven concierge services and digital guides. 3. Curation is the New Standard of Luxury Curation is now as essential as five-star service. Over 90% of luxury travelers say the best journeys feel effortless yet are expertly crafted, with 89% expressing interest in seeing local charm reflected in hotels. Travel advisors are the new power brokers, with 84% of survey respondents agreeing that a trusted travel advisor is more valuable than unlimited internet research. 4. Heritage Is the New Frontier Luxury travelers don't want to just observe history – they want to be part of it. Over 90% seek experiences that immerse them in history and culture, favoring heritage-rich stays. Additionally, with 71% planning multi-generational trips in 2025, demand continues to rise for spacious accommodations that foster connection to each other and their own family roots. 5. Loyalty Programs Are Lifelines to Consistency and Customization Amid economic pressures and rising costs, loyalty has become more valuable than ever. For 82% of luxury travelers, loyalty programs are very important to ensuring hotel quality, while nearly two-thirds say a great past stay drives repeat bookings. Today's loyalty isn't transactional — it's deeply personal, driven by human touch, customization, and consistent excellence. 'The Luxury Travel Report by Preferred Hotels & Resorts deepens our understanding of the ever-evolving desires of luxury travelers, which is a critical step in reinforcing authenticity and spotlighting the unique, curated experiences that can be found throughout our global portfolio,' said Lindsey Ueberroth, Chief Executive Officer of Preferred Hotels & Resorts. 'We are guided by an ethos that celebrates an independent spirit, transformative experiences, and we remain committed to delivering authentic, memorable stays through our 'Believe in Travel' ideology. Through the Report, we hope to inspire meaningful experiences that resonate with the luxury travel set.' The Luxury Travel Report was conducted by The Harris Poll on behalf of Preferred Hotels & Resorts from February to March, 2025, among over 500 affluent U.S. travelers. Respondents met criteria including an annual household income of more than $250,000, at least $1 million in total assets, and a minimum spend of $10,000 on leisure travel annually. Explore the full findings of The Luxury Travel Report 2025 at About Preferred Hotels & Resorts Preferred Hotels & Resorts is the world's largest independent hotel brand, representing more than 600 distinctive hotels, resorts, residences, and unique hotel groups across 80 countries. Through its curated global collections, Preferred Hotels & Resorts connects discerning travelers to the singular luxury hospitality experience that meets their life and style preferences for each occasion. Every property within the portfolio maintains the high-quality standards and unparalleled service levels required by the Preferred Hotels & Resorts Integrated Quality Assurance Program. The I Prefer™ Hotel Rewards program, Preferred Residences℠, Preferred Pride℠, and Preferred Golf™ offer valuable benefits for travelers seeking a unique experience. For more information, visit Media Contact: Kate Calciano Coordinator, Public Relations Preferred Hotels & Resorts Office: + 1 646-465-9786 Mobile: +1 929-215-6608 [email protected]
The Herald Scotland
15-05-2025
- The Herald Scotland
Report finds luxury travel demand is strong amid economic uncertainty
"The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travelers are investing not just money but meaning into their journeys," the brand said in a news release. "Luxury travelers seek immersive, curated experiences that feel personal and enduring - avoiding generic, mass-produced offerings in favor of authenticity and emotional connection." Luxury travelers plan to spend more on travel Over half of respondents - 55% - plan to spend more on leisure travel in 2025 than they did last year. The survey found 29% expect those costs to amount to $50,000 or higher for the year, while 34% anticipate spending between $25,000 and $49,999 and 38% said that figure would be less than $25,000. That doesn't mean they aren't feeling financial pressures. Per the report, "75% of luxury travelers adapted their travel habits in response to rising costs" and an unclear economic picture. Those tactics include offsetting costs through memberships and loyalty points (47%), traveling to high-end hotels during the off season (36%), and putting quality over quantity of trips (32%). What else are luxury travelers looking for? Travelers were also polled on their travel priorities, from the types of trips they're taking to the hotels they're looking for: Ninety percent had one or more international trips planned, with France (25%), Italy (23%) and Canada (20%) among the most popular destinations. All-ages trips were on the agenda for many surveyed, with 71% of respondents taking at least one multigenerational trip within the next year. Respondents were looking for character in their accommodations. Among those surveyed, 67% agreed that "modern luxury hotels have sacrificed soul for standardization," and close to three quarters said they wouldn't pay for generic-looking luxury lodging. Travelers were also intent on connecting with the past. The report found that 95% wanted to integrate "historic experiences" into their trips. The full report is available here. Age and inflation concerns affect travel plans A separate report from the consulting firm Simon-Kucher found travel looks different across generations. It found that while younger generations frequently opt for affordability over luxury when booking travel accommodations, only 32% of Baby Boomers are willing to do the same. Shikha Jain, a partner at Simon-Kucher, said that's not surprising as those post-retirement are likely to spend more on comfort while younger travelers are more focused on experiences outside of their hotel rooms. Jain said consumer expectations around tariffs might also be playing a role in vacation planning. She said while some high net-worth travelers would be somewhat immune to price hikes, some fear predicted higher inflation could lead to wage increases that drive up the cost of services and travel in the future. "They are buying joy, control, and comfort before those types of experiences get expensive," Jain said. "They are bracing for a future where premium is more expensive and less accessible." Despite inflation easing to a four-year low in April, consumer confidence continued to fall as Americans perceive risks in multiple aspects of the economy, citing uncertainty around trade policy and concerns that inflation could resurge.
USA Today
14-05-2025
- Business
- USA Today
Luxury travelers will take 8 leisure trips on average in 2025, report says
Luxury travelers will take 8 leisure trips on average in 2025, report says Show Caption Hide Caption Top three travel trends for summer 2025 Airbnb shares data behind the top summer destinations and motivators for 2025. While economic uncertainty and anxiety around international travel may put some vacation plans on pause this year, a new report found demand for upscale trips is strong. Preferred Hotels & Resorts released its first Luxury Travel Report on Wednesday – developed in partnership with The Harris Poll – which found the average luxury traveler has eight leisure trips planned in the next 12 months. The hotel brand surveyed 503 affluent U.S. adults between late February and early March, defined as those with household income of at least $250,000; a minimum of $1 million in total assets, and those who typically spend $10,000 or more on leisure travel annually. Respondents also had a leisure trip planned within the following year. 'The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travelers are investing not just money but meaning into their journeys,' the brand said in a news release. 'Luxury travelers seek immersive, curated experiences that feel personal and enduring – avoiding generic, mass-produced offerings in favor of authenticity and emotional connection.' Luxury travelers plan to spend more on travel Over half of respondents – 55% – plan to spend more on leisure travel in 2025 than they did last year. The survey found 29% expect those costs to amount to $50,000 or higher for the year, while 34% anticipate spending between $25,000 and $49,999 and 38% said that figure would be less than $25,000. That doesn't mean they aren't feeling financial pressures. Per the report, '75% of luxury travelers adapted their travel habits in response to rising costs' and an unclear economic picture. Those tactics include offsetting costs through memberships and loyalty points (47%), traveling to high-end hotels during the off season (36%), and putting quality over quantity of trips (32%). What else are luxury travelers looking for? Travelers were also polled on their travel priorities, from the types of trips they're taking to the hotels they're looking for: Ninety percent had one or more international trips planned, with France (25%), Italy (23%) and Canada (20%) among the most popular destinations. All-ages trips were on the agenda for many surveyed, with 71% of respondents taking at least one multigenerational trip within the next year. Respondents were looking for character in their accommodations. Among those surveyed, 67% agreed that 'modern luxury hotels have sacrificed soul for standardization,' and close to three quarters said they wouldn't pay for generic-looking luxury lodging. Travelers were also intent on connecting with the past. The report found that 95% wanted to integrate 'historic experiences' into their trips. The full report is available here. Age and inflation concerns affect travel plans A separate report from the consulting firm Simon-Kucher found travel looks different across generations. It found that while younger generations frequently opt for affordability over luxury when booking travel accommodations, only 32% of Baby Boomers are willing to do the same. Shikha Jain, a partner at Simon-Kucher, said that's not surprising as those post-retirement are likely to spend more on comfort while younger travelers are more focused on experiences outside of their hotel rooms. Jain said consumer expectations around tariffs might also be playing a role in vacation planning. She said while some high net-worth travelers would be somewhat immune to price hikes, some fear predicted higher inflation could lead to wage increases that drive up the cost of services and travel in the future. 'They are buying joy, control, and comfort before those types of experiences get expensive,' Jain said. "They are bracing for a future where premium is more expensive and less accessible." Despite inflation easing to a four-year low in April, consumer confidence continued to fall as Americans perceive risks in multiple aspects of the economy, citing uncertainty around trade policy and concerns that inflation could resurge.
