Forecast For Luxury Travel Through 2010 Trend Report

Contained in this new Unity Marketing luxury trend report, Forecast for Luxury Travel Through 2010: A Luxury Trend Report , are essential facts and figures that will give direction to luxury marketers servicing the luxury travel sector: How the recession has impacted the luxury travel market, including a review of luxury travel through 3Q2009, such as trends in spending, foreign and domestic travel choices, hotel brands favored by luxury travelers; Business travel expectations, including number of business trips planned, trends in travel days and travel spending, and trends in business travel experiences including what services business travelers will demand more of through 2010; Personal travel expectations, including number of personal trips planned and amount budgeted for travel, type of experiences planned, including luxury resorts, cruises, etc., trends in personal travel spending, and planned foreign destinations. Luxury travel providers will find the sections of the report that explore what influences the luxury traveler in selecting destinations and travel providers especially valuable, as it helps brands identify strategies to connect more effectively with their target market. The survey studies : Hotel features and services that most strongly influence the affluent traveler in selecting a hotel brand, such as the relative importance of concierge services, turn down services, room upgrades, etc. The types of travel experiences desired, such as relaxation and stress-reduction experiences and fine dining/food and wine experiences, are rated and compared with results from 2006. The report also rates for which segment of the personal luxury travel market these experiences are more important. For example, women are more highly motivated by relaxation experiences, while men are more drawn to cultural and romantic experiences. Factors that influence the luxury traveler in picking a destination. For example, whether they are more drawn to visiting new places and having new experiences or they would rather return to a favorite destination that has treated them well in the past. The study also explores the relative importance of loyalty rewards program in attracting the personal luxury traveler. How luxury travelers will book their travels. The findings reveal a key opportunity for luxury travel providers to enhance the travel experiences for the affluent luxury traveler. "This trend report is written specifically for travel marketers that want the most up-to-date and salient facts about the luxury travel market. It will help them understand the trends in the current market and ways they can find new opportunities in serving the luxury traveler. It provides an invaluable supplement to a company's own internal customer data by filling the holes and gaps about potential target segments not captured by internal company sources. It doesn't overwhelm the busy executive with a lot of excess baggage, but presents them with the facts and figures they need to make informed decisions," Danziger concludes. Also included with the new luxury trend report, Forecast for Luxury Travel Through 2010: A Luxury Trend Report, is the executive summary of the 3Q2009 luxury tracking study which details overall trends in spending in the 22 categories of luxury products and services measured in the Unity Marketing quarterly survey.

Additional Information

Report Excerpt:

SPECIAL INVESTIGATION: LUXURY CONSUMERS AND THEIR TRAVEL PLANS THROUGH 2010

In the current economic recession the travel and tourism sector has been particularly hard hit. The latest government statistics released September 23 by the Bureau of Economic Analysis found that real spending on travel and tourism declined 1.4 percent from first quarter 2009 to second quarter, after dropping 8.9 percent from fourth quarter 2008 to first quarter 2009.

Affluent travelers with a penchant for luxury experiences have found cutting back on their travel expenditures a popular way to save money in the current economy. In the first three quarters of 2009 luxury travelers' spending dropped 22 percent from levels reached during the same period in 2008, from $22,072 to $17,259 in 1-3Q2009.