ILTM Cannes Review Luxury Travelers Seek Rewarding Experiences
âAffluent consumers have gone from what we call acquisitive luxury, which is driven by the desire to show off, to something more of a meditative luxury, which is driven by fulfillment and experience,â Tina said. Edmundson, Global Brand and Marketing Officer at Marriott. International. âA determined luxury traveler emerges from the pandemic with a desire to eat, renew and re-engage in the things that matter most. Luxury is entering a new era of regeneration, driven by the maturation of tastes and desires. In the future, this client will focus more on traveling, building and deepening relationships wherever they go, moving from me to me and us, and living well by achieving holistic wellness. We are in a privileged and unique position to see these trends manifest in our eight luxury brands at Marriott International. “
Through the world-renowned hospitality brands of The Ritz-Carlton, Ritz-Carlton Reserve, St. Regis, W, The Luxury Collection, Edition, JW Marriott and Bulgari, Marriott International continues to elevate travel, creating experiences of distinct and highly contextualized brand that signal the future of luxury.
“Wealthy consumers have gone from acquired luxury – motivated by the desire to show off – to meditative luxury”
– Tina Edmundson
âOur customers seek deeper, more immersive experiences that allow them to engage in global exploration while eliciting personal regeneration,â said Chris Gabaldon, senior vice president, Luxury Brands, Marriott International.
A global study on luxury trends conducted in collaboration with creative agency Team One found that today’s affluent travelers are moving from a ‘tick the boxes’ mentality to a ‘travel well’ mentality. taking a more thoughtful and intentional approach to travel planning.
Gabaldon observed, âAs people reconsider and re-prioritize what matters most to them, a shift that has accelerated over the past two years, we are seeing a real embrace of deeper travel. Our clients are more focused on where they are traveling and why they are making the trip, seeking to foster a more meaningful connection with the destination as well as with the people they meet.
There has been an incredible amount of savings during the pandemic, with studies reporting that consumers in Europe and the United States have around $ 2.7 trillion in savings.
Edmundson says: âLuxury travel is still at the top of the aspirations list: Air travel and luxury hotels are at the top of the list, with 84% of luxury travelers expressing a need to travel to feel much more personal and respondent. They are also concerned about the impact of their movements on the community and on others – we see this especially among people 40 years of age and under. On the other hand, 69% say they want to travel more than ever. Some 65% of luxury travelers insist that it is very important for them to make a positive change in the world. And when it comes to brands they love, they really focus on the ones that treat their people well.
âAs we move to meet the desires of this luxury traveler with these new expectations, I think what was popular in travel is no longer necessarily what is good in travel,â concludes Edmundson.