The report found that luxury travel demand is strong amidst economic uncertainty

Date:


play

Economic uncertainty and uncertainty about international travel could suspend holiday plans this year, but a new report shows that demand for luxury travel is strong.

Priority Hotels & Resorts released its first luxury travel report on Wednesday – developed in collaboration with Harris’ polls. This shows that the average luxury traveler is planning eight leisure trips over the next 12 months. The hotel brand surveyed 503 wealthy US adults between late February and early March. A person who spends at least $1 million in total assets and typically more than $10,000 each year on leisure trips. Additionally, respondents planned a leisure trip within the following year.

“The luxurious travel report by Priority Hotels & Resorts reveals that today’s wealthy travelers are investing meaning not only in their money, but in their journeys,” the brand said in a news release. “Gorgeous travelers want an immersive, curated experience that feels personal and lasting.

Luxury tourists plan to spend more on their trip

Half of respondents (over 55%) plan to spend more on leisure trips in 2025 than last year. The survey found that 29% expect these costs to reach more than $50,000 a year, while 34% expect to spend between $25,000 and $49,999, with 38% expecting spending below $25,000.

That doesn’t mean they don’t feel economic pressure. According to the report, “75% of luxury travelers have adapted their travel habits in response to rising costs,” an unclear economic situation. These tactics include offsetting costs through membership and loyalty points (47%), moving to a high-end hotel during the offseason (36%), and spending more quality than travel amount (32%).

What else are luxury travelers looking for?

Travelers also voted on travel priorities, based on the type of trip to the hotel they were looking for.

  • 90% planned one or more international trips, with France (25%), Italy (23%) and Canada (20%) among the most popular destinations.
  • Travel of all ages was on many agendas surveyed, with 71% of respondents taking at least one multi-generational trip next year.
  • Respondents were looking for characters at the accommodation. Of those surveyed, 67% agreed that “modern luxury hotels sacrificed their souls for standardization,” and nearly three-quarters said they would not pay for general luxury accommodation.
  • Travelers were also intended to connect with the past. The report found that 95% would like to integrate “historical experiences” into travel.

The full report is available here.

Age and inflation concerns affect travel plans

Another report from consulting firm Simon-Kucher found that travel appears to differ between generations.

Younger generations often choose affordable prices over luxury when booking travel accommodations, but we found that only 32% of baby boomers willing to do the same thing.

Simon-Kucher partner Shikha Jain said it’s not surprising as young travelers are likely to spend more on comfort after retirement while they are more focused on their experience outside their hotel rooms.

Jain said consumer expectations regarding tariffs could also play a role in holiday planning. She said some high Western travelers are somewhat immune to price increases, but they fear that higher inflation will lead to increased wages that reduce future services and travel costs.

“They buy joy, control and comfort before these types of experiences become expensive,” Jain said. “They are preparing for a future where premiums are more expensive and accessible.”

Despite ease of inflation to its four-year low in April, consumer confidence continued to decline, as Americans recognized risks on multiple aspects of the economy, citing uncertainty about trade policy and concerns that inflation could revive.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Gold price today on March 18, 2026

How much is gold worth per ounce today?As of...

J.D. Vance calls Michigan synagogue attack ‘disgusting’

Authorities have described the March 12 synagogue attack as...

Silver price today on March 18, 2026

How much is silver worth per ounce today?As of...

The strange case of Markwayne Mullin’s trusty bouncy ball

"This is my pacifier," the Homeland Security secretary nominee...