#Trending This Week - Ultra-Luxe Experiences, Subscription Airfare, Book Bars, The Search For Value, And Two Travel Economies
Issue 210 • August 20, 2024
As we rush toward the end of Q3, there is a lot of looking back at how the travel and hospitality business is doing. Some are pointing to a TALE OF TWO TRAVEL ECONOMIES, where the rich keep traveling and the lower income do so less frequently — when there is a good deal available. Speaking of which, ULTRA-LUXE TRAVEL IS IN DEMAND as high net worth individuals seek out expedition cruises, safaris, and other celebratory style experiences. And while LUXURY TRAVELERS are still spending, they do seek value to help them swallow the high costs. The SUBSCRIPTION MODEL has arrived in the airline industry and one European carrier is offering an annual all-you-can-fly subscription. Did you know the NEXT BIG THING IN THE LOUNGE SECTOR is the book bar? Check it all out in our three-minute read below.
Ultra-Luxe Travel Is In Demand
Virtuoso advisors noted continued demand for exclusive-use experiences such as VIP transportation, luxury yachts and private residences, and itineraries incorporating next-level stimulation and engagement. Leading trends in ultra-luxe travel include expedition cruises, exotic destinations (Fiji, the Maldives and Thailand) and African safaris. The top motivations for ultra-luxe travel are celebrations, passion-point experiences (sports, arts, culture, concerts and festivals) and once-in-a-lifetime trips. Read more in Open Jaw here.
Luxury Travelers Seek Value
At the recent Virtuoso travel conference, a panel of agents reported high prices are giving clients pause. Rates aren’t deterring luxury travelers, but they want to see value in what they purchase. Some travelers are experiencing sticker shock, but will book anyway. Read more in Travel Weekly here.
All-You-Can-Fly Subscriptions Have Arrived
Subscription services are very popular and now airlines are getting in on the act. European-based Wizz Air has just launched an all-you-can-fly subscription plan. Subscribers who pay a single annual payment of €599 can take an unlimited number of Wizz flights as long as they book within 72 hours before departure. Read more in PhocusWire here.
Time To Check Out The Book Bars
The latest trend in the lounge concept is the “book bar.” They prioritize solo time as much as low-key conversation, offering a fun alternative to record bars and libraries. These spaces are designed for reading, drinking, listening to music, and chatting with other book lovers. The focus in book bars is less on needing labor to make complicated dishes. Instead, the business relies on easier-to-procure revenue streams: booze, books, and sometimes ready-made snacks, like olives, nuts, and tinned fish. Read more in Eater here.
A Tale Of Two Travel Economies
Travel has become a tale of two groups: high income and lower income. While overall leisure demand is slowing, travel executives say Americans who can afford international trips haven’t stopped hopping on jets. But airlines, which have served record numbers of passengers this summer, have had to discount domestic fares. Meanwhile, one lower-cost option is thriving: cruises. The all-inclusive pricing model appeals to those feeling the effects of high inflation and borrowing costs. Read more on LinkedIn here and for those who subscribe, The Wall Street Journal here.