Following the Worldwide Luxurious Journey Market (ILTM) convention in Cannes, France this previous week, there have been a number of takeaways that the pending recession gained’t affect the way forward for luxurious journey.
Shows from ultra-luxury manufacturers not solely confirmed their portfolio of choices, it supplied a glimpse into new itineraries and choices within the luxurious market.
Parked exterior the venue, the prepare automobile from Belmond’s Venice Simplon Orient Specific caught the attention and was the star of the present. Belmond introduced plans for brand new suites in addition to a brand new line of Orient Specific routes with restored trains in 2024.
While sustainability and luxurious are sometimes not congruent, practically all luxurious lodge operators shared their upcoming sustainable practices. Firms like Six Senses touted their use of native components whereas behemoth Accor is trying to eradicate single-use plastics.
IHG Lodges & Resorts (IHG) shared of their presentation that they count on over 60% of luxurious customers will comprise Millennials and Technology Z’ers by 2025.
There’s additionally optimism in accordance with an American Specific and Altiant report in that solely 10% plan to tug again on journey spending and practically 60% of rich vacationers plan on spending extra subsequent yr.
Development can also be on the horizon as Marriott Worldwide and Hilton shared their development to luxurious manufacturers like Version and Waldorf Astoria. IHG shared concerning the development of their luxurious manufacturers Six Senses and Regent whereas Accor additionally boasted about their development technique throughout their luxurious portfolio.
On the convention smaller luxurious manufacturers like The Dorchester Assortment, Cheval Blanc and Belmond didn’t appear to be bothered by not being linked to an enormous conglomerate. They offered sturdy proof to remain as smaller operators within the luxurious house.
Whereas Aman lately opened in New York Metropolis, in addition they can be launching a extra inexpensive model ‘Janu’ with the primary opening scheduled to be in Tokyo subsequent yr. Regent introduced plans to plans to reopen the Carlton Cannes subsequent yr whereas building at their Cannes website is at the moment underway.
