What’s Trending in the Luxury Travel Market

As 2016 draws to a close, I find myself reflecting on changes we have seen in the luxury travel sector this year, and more importantly what new developments we might anticipate in 2017.  With that in mind I wanted to look at a few developing trends that I believe we all need to take into consideration as we consider the short-term future of the luxury travel market. I’ve selected six trends from two market research firms on the future of travel, including “2016 Future of Luxury Travel Report” by Resonance, and “The Future of Travel” by Qubit. Here’s a summary of those trends, as well as my thoughts on each of them. Travel as Transformational Resonance’s survey finds luxury travelers are seeking transformational experiences that allow them to learn new…
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Using Social Media to Find New Prospects

One of the biggest challenges we all face is finding good prospects for premium customers. Indeed, travel companies—including airlines, cruise lines, hotels, travel agencies and tour operators—are constantly seeking new ways to obtain prospects and win more business from existing customers. Many travel companies are turning to social media to find these prospects as well as communicate with their existing clients and business network on a daily basis. Such social media outlets as LinkedIn, Facebook and Twitter, among others, represent huge opportunities for travel companies seeking new customers, as well as ways to better address the needs of their existing travelers. What LinkedIn’s New Survey Says Earlier this year, LinkedIn completed a survey of business and leisure travel that provides travel companies with ways to better understand modern travelers and…
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The Outlook For Affluent Travel

In the current climate of political and economic uncertainty, and terrorism reports dominating our news media, it is important to keep focused on how these issues impact the affluent travel market. Luxury travel advisors, deluxe hotels, luxury cruise lines and other upscale suppliers are keenly interested in the answer to that question, so I asked Cara David, managing partner for YouGov, for her firm’s latest survey of the U.S. affluent market. YouGov is a global market research firm that captures the views and perspectives of over 4 million consumers worldwide. One of YouGov’s most recent surveys captured the views of 2,515 U.S. based “affluent” consumers on a range of expenditure categories, including travel. The study analyzed differences between customer age profile and annual household income from Base Affluent ($150,000-$199,000 annual household…
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The TripAdvisor Effect

Since it began as a user-generated hotel review website 16 years ago, TripAdvisor has grown to become the most visited travel site in the world. That’s a remarkable achievement and one that hoteliers around the world have become keenly aware of when designing their marketing strategies. Over the past three years, however, TripAdvisor itself has morphed to include both metasearch and booking capabilities. It now stands poised to possibly become the third largest online travel agency (OTA), competing with Expedia and Priceline, along with their slate of other travel booking brands. This represents an opportunity, but also a threat to major hotel chains and independent hotels. On the other hand, TripAdvisor is walking a thin line in trying to balance its business in user-generated reviews, metasearch and bookings without offending…
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What To Do When Travel Crisis Strikes

It's happened again. This time it's the Zika virus that is impacting travel throughout South America, Central America, Mexico and even the Caribbean. It began in Brazil, which is top of mind these days for travelers because of the upcoming Olympic Games, set for August in Rio de Janeiro, but quickly spread to other countries. Every few years the global travel industry is hit with a virus scare, from H1N1 flu in Mexico to bird flu in Asia and the Ebola crisis in Africa. Zika fever is particularly alarming - an almost symptomless disease that is undetectably mild in most adults but in pregnant women can cause terrible birth defects in their babies. It is also particularly fast moving with a number of cases now reported in Florida, including three…
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