The luxury travel market continues to expand at a faster rate than the sector at large, due to a number of factors.
The main reason is an across the board change in paradigm of just what qualifi es as luxury, and just who “dips their toe” into the luxury travel market. Far more than at any time before, people from diverse walks of life are becoming luxury clients, whether it be for weddings, anniversaries, honeymoons or other special occasions. The second key factor contributing to the growth of the sector is the increasing interest in travel in general by those who have the means to travel. Today, rather than buying another new Porsche 4S, it could be more fun to splash out on a ‘round the world tour. It all augers well for the luxury hotel market, but also engenders a major change in dynamics for the once-staid administration. Those who pick up that challenge will no doubt be the winners of tomorrow.
Photo: La Concha, Puente Romano Beach Resort, Marbella