Travel is a constant for rich individuals and families, hence luxury travelers. There are times that these rich people might plan for a special trip or pay for more extended vacations, while other years they might be a little more low-key. Regardless of how they want to spend it, travel is always part of the plan.
According to financial experts, travel is usually the third item of importance on a financial plan after daily living expenses and health care needs. But the wealthy don’t just settle for less, they want luxury travel, which, according to travel experts, is a luxury trip that is determined by the uniqueness and exclusivity of the experience and by the personalization of the services. When they are on vacation, these wealthy people look for relaxation and comfort, and they also love to try gourmet food, experience the local culture, and make excursions in nature.
A lot of rich people have altered their travel plans amid the pandemic, with some switching to road trips and others postponing long-haul flights and sea travel until next year or beyond. Except for the luxury travelers who are more optimistic, continuously making plans and holding onto travel reservations made pre-pandemic.
Luxury travelers tend to be a little more comfortable with today’s wait-and-see situation because they are well-versed at travel and it’s a part of their lifestyle, especially if there’s no financial penalty for them to do so. These rich vacationers are not just after photographs, but they are after unique, memorable experiences.
What luxury travelers are after for a vaction
Luxury Travelers essentials
Better Value Means Individual Attention and Personalization
We all know that money, on its own, does not really matter to luxury travelers. As long as they can see the value of the travel offer, as any luxury establishment should be able to maintain, they would not mind the price tag.
Every time luxury travelers go on a vacation, they are looking for experience, not just accommodation, so they are less likely to be enticed by lower prices. What they are after is an experience that is worth their money. They value individual attention and personalization, especially if they are repeat guests.
With this in mind, most luxury hotels begin personalizing their guests’ experience long before they arrive at the establishment and even before they decide to book with targeted content and advertisement.
Luxury travelers are usually given a pre-stay questionnaire when they confirm their booking. Being able to know the key details about the guests before they arrive gives these establishments the opportunity to make them feel even more valued when they check-in and discover everything they need is already prepared and taken care of. Once the luxury travelers are in the hotel, they are usually assigned a personal assistant to personalize their stay and help them experience the place.
A few decades ago, tourism was all about tours and sightseeing. But for luxury travelers today, tourism means more authentic, unique, immersive, and experiential trips.
Luxury travelers seek deeper and more authentic connections with the places they visit and they are after personalized and co-created experiences that offer stories worthy to be shared, but above all, they help them differentiate themselves from the crowd.
They are not content with simply picking up a copy of a travel magazine or catalog and trying to put together an itinerary. They want a unique, tailored experience, curated by people with the utmost taste and insider knowledge.
In fact, before they set off on their vacation, many luxury travelers will pay a huge amount of money to have a luxury guide or professional luxury travel advisor to curate a perfect trip for them – from booking in Michelin-starred restaurants to enjoying unique private cultural excursions. All of this will be planned without them lifting a finger through their trusted professional luxury travel guide.
Good image and reputation Matters to Luxury Travelers
Luxury travelers are also looking at luxury establishments with a good image and reputation. This is why keeping in contact with past guests, asking for feedback, and taking their feedback seriously can also help luxury establishments excel in one of the most important areas for luxury hotels looking to maintain and increase bookings, which is managing their reputation online.
As luxury travelers are looking for experiences, not just accommodation, it makes sense that they would seek out advice and opinions from similar travelers to verify what the luxury establishment has and if it offers the experience it claims it does.
This is why most luxury establishments appeal to the most affluent by having a large collection of positive and authentic social proof in the form of reviews and social media posts from wealthy clients and their peers.
In fact, luxury brands that have made unique experiences part of their image are already reaping the rewards. Take, for example, Four Seasons, which has made unique experiences part of its brand narrative, is one of the top five brands with which the wealthiest 5% of travelers are most familiar.
Contrary to popular belief, rich people don’t tend to travel alone. They may arrive by private jet, but social, group excursions are generally the most common trend amongst ultra-wealthy travelers. This does not mean booking an under-30s group tour with a package holiday group.
Many luxury travelers are keen to join exclusive private members’ clubs like the VIP Casino club for high rollers. Meanwhile, there are also rich people who want to see sights such as Miami Beach, and the Bahamas in the company of a similarly well-heeled globetrotter, after all, even a vacation can be a good networking opportunity.
Long Vacation Trips Away
Other than money, the luxury that the 1% of the affluent market have in abundance is time. Luxury travelers value cultural enrichment, they want to learn and experience traditions, they want to understand the culture, and they know that they won’t get it from a five-day trip. They will typically book trips in one country for anything from four weeks to six months, allowing them to immerse themselves in the culture and truly feel like a local.
When you think of luxury destinations, you probably think of Paris, New York, Milan, or Venice. However, luxury travelers do not tend to consider these popular tourist destinations as places to vacation, as they would rather be away from the crowds.
These luxury travelers tend to go off the beaten track and go to places that few tourists have even heard of, let alone visited. Luxury style bible Tatler has recently cited the hottest travel destinations for the ultra-rich which include Isfahan in Iran, Lima in Peru, Tbilisi in Georgia, and Seydisfjördur in Iceland.
Luxury Travelers Vacation Sustainably
With the increasing concern for the impact of their actions, many luxury travelers are more aware of the negative consequences of their consumption on the environment, society, and health. Because of this, there is a growing demand for luxury brands to combine luxury and commitment and go for sustainable tourism. So, now you know, if you truly want to experience the world like a billionaire, you just need to arrange a six-month trip, surrounded by other billionaires, with every day planned out for you. It’s that simple!
And for luxury brands, the key lies in creating and communicating innovative products and services that satisfy the growing need for personal well-being, combined with an authentic and sustainable luxury experience fit for the luxury travelers’ profiles.
Meanwhile, when it comes to luxury real estate, hiring a luxury real estate sales professional who knows the market is the way to go.
Brittany Salesforce, the official selling arm of Villar-led Brittany Corporation, is composed of real estate sales professionals with vast experience in luxury real estate and a proven track record in handling and servicing the most prestigious clientele in the country.
If you are currently in the market for luxury properties, Brittany Corporation offers a fine selection of home designs in excellent locations: Portofino in Alabang, La Posada in Sucat, Augusta, Georgia Club, and Promenade in Sta. Rosa, Laguna, and Crosswinds in Tagaytay.
Brittany Corporation is the premier name in luxury real estate development in the Philippines and a subsidiary of the largest homebuilder Vista Land & Lifescapes, Inc., that offers Old European and American-themed projects and creates masterpieces of upscale living for luxury homebuyers with a taste for artful living. Beautifully designed luxury properties loaded with a wide range of convenient amenities, definitely worth investing in.
Brittany Corporation’s communities continue to offer luxury properties that are rich in character and sophisticated in thematic appeal. For more information on Brittany Corporation and its roster of luxury-themed properties, visit their official Facebook page.
You’re going to want to be sure to work with a luxury real estate sales professional who has a proven track record and experience in successfully navigating the luxury real estate market. All real estate sales professionals have their specialties and it is necessary that you understand the ins and outs as well as the trends in luxury real estate.