Homage’s Post

Engaging All Travelers. The luxury travel market presents lucrative potential, but brands should engage travelers across budgets to drive growth. While continuing to nurture high-spend loyal guests, also cultivate new brand relationships through accessible and aspirational touch points. For new audiences, provide affordable access points like monogramming services, rental programs for designer apparel or premium alcohol, and co-created capsule collections. These littles luxuries allow aspiring travelers to engage with your brand before an extended stay. The time is now to reimagine connections with travelers and revitalize your approach. Let’s start laying the groundwork today!

🧳What are the top 5 personal values of the high luxury traveler?🤔 Using our Research the Affluent Luxury Tracker (RTALT),📈 a continuous daily tracking database of trends from affluent individuals in the US, we harvested insights, behaviors, and preferences of High-Net-Worth Travelers😃 In our report, we learned that the top 5 personal values of high luxury travelers are: 🌎 making positive lasting change for the world 🥗 making healthy choices with diet and exercise 📈 working toward future goals 💰 creating lasting wealth for their family 👨👩👧👦 personal growth of family members and friends Download our free report to more to understand the high luxury traveler and what sets them apart!🤓 https://buff.ly/3OEpwKS #luxurymarketing #luxurytourism #marketresearch #tourismtrends #hospitality #marketingtrends #hospitalitymarketing #Luxury #Marketing #BrandMarketing #LuxuryLifestyle #ConsumerBehavior #ConsumerInsights #MarketResearch #ConsumerTrends

If you’ve been in an airport recently, you know, travel is back and the desire to connect, discover, and create lasting memories is more vibrant than ever. These desires align perfectly with the core of what brands aim to offer their consumers. But when the market’s moving at warp speed, what do brands in and around the travel and hospitality categories need to stand out now and thrive tomorrow? Check out the latest report from our friends at Clear M&C Saatchi to find out 👇 https://lnkd.in/eyuy9C5j

If you’ve been in an airport recently, you know, travel is back and the desire to connect, discover, and create lasting memories is more vibrant than ever. These desires align perfectly with the core of what brands aim to offer their consumers. But when the market’s moving at warp speed, what do brands in and around the travel and hospitality categories need to stand out now and thrive tomorrow? Check out the latest report from Clear M&C Saatchi to find out 👇 https://lnkd.in/eyuy9C5j

🌟 Exploring Strategic Growth in Hospitality: Bella Vita 🏨 Today, I'm delving into the strategic dynamics of Bella Vita, a leading name in the hospitality sector known for its commitment to luxury and innovation. 🌍 🔍 Amidst the evolving landscape of travel trends and customer expectations, Bella Vita continues to stand out with its unique blend of personalized service and sustainable practices. 📈 As I analyze their recent market expansions and customer feedback initiatives, it's clear they're not just adapting but thriving in a competitive industry. 🌐 I'm particularly impressed by their approach to integrating technology to enhance guest experiences while maintaining a strong focus on environmental stewardship. Let's discuss how companies like Bella Vita set benchmarks in hospitality, shaping industry standards and inspiring others to elevate their game in Indian market. #bellavita #business #StrategicGrowth #CustomerExperience 

If you’ve been in an airport recently, you know, travel is back and the desire to connect, discover, and create lasting memories is more vibrant than ever. These desires align perfectly with the core of what brands aim to offer their consumers. But when the market’s moving at warp speed, what do brands in and around the travel and hospitality categories need to stand out now and thrive tomorrow? Check out the latest report from Clear, M&C Saatchi to find out! #mcsaatchi

In the latest McKinsey & Company report, #luxurytravel is set to outpace other segments, driven by a diverse wealth range and preferences. Key findings include: - 35% of luxury travelers have net worths between $100K-$1M. - Asia, particularly China, leads luxury hotel developments, with 41% of global pipeline rooms located there. - Younger travelers (under 60) make up 80% of the luxury market. 68% of luxury travelers value loyalty programs. - Luxury demand is shifting toward experiences that blend digital detoxing and personalized service. - Exploration of someplace new drives the highest per night spend for this market (people want to places they've never been before) For brands today, how can you easily identify the aspirational luxury travelers, worth $107 Billion by 2028, an underserved market, and help them explore the world based on their passions and preferences? Check out the new report here (https://lnkd.in/et822Ywx) #Legends #ZeroPartyData #TravelDNA Legends

The psychology of luxury travel: The key to attracting affluent customers.

As luxury travel companies worldwide discuss the 2024 budget with their Boards, the overarching question is whether 2023 has been an exceptional year or whether it represents the baseline of a “new normal”. We presented three weeks ago at the opening speech of the annual convention of the @TheLeadingHotelsoftheWorld in @BorgoEgnazia that both mainstream and affluent consumers are concerned about geopolitical, economic, and financial uncertainties. However, while mainstream consumers expect their discretionary spending to be compressed by the inflated cost of more basic products and services, “True Luxury consumers” are confident that their financial position will allow to increase spending in experiential luxury, including travel, hospitality and fine dining – boding well for 2024 projections. Millennials and GenZ consumers will further increase their share, to become the most important True Luxury demographic segment and forcing high-end hospitality companies to reconsider how appealing their proposition is to the new generations.   You can download the BCG-Altagamma True Luxury Global Consumer Insight report at https://lnkd.in/dRq9V-_N   #LHWTraveler #BCG #LuxuryHotel #ShannonKnapp