The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2013
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Luxury travel demand is back at full force. However, in order to take full advantage of the opportunities worldwide, luxury hotels catering to luxury travellers need to understand that demand patterns have changed in many ways. The latest trends pointing to this new luxury demand are covered in this briefing.
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Emerging markets are expected to be key drivers of global luxury travel growth over the next five years, thanks to their rapidly growing middle and affluent classes.
Business travel is back. Nevertheless, a new focus on cost-conscious spending is likely to hurt the performance of luxury hotels, as the segment struggles to regain pricing.
Although destinations within Asia Pacific were still popular amongst Chinese travellers in 2012, countries like France and the US are seeing a large inflow of luxury Chinese travellers in search of tourist attractions and shopping.
Luxury hotels in the US recorded the highest value sales in 2012, due to a strong economic performance and to the return of investment.
Accor plans to expand its luxury and upscale portfolio of hotel brands from 300 to 400, with a strong focus on Latin America, the Middle East and Asia Pacific.
Luxury guests have fully embraced technology, with social media playing an important role for luxury brands in order to create engagement, receive valuable feedback and gain loyalty.
Luxury hotels investing in China must revisit online distribution strategies and act more “locally” to reach a larger number of luxury Chinese guests.
Luxury hotels worldwide will see stronger sales growth in the next five years, mainly driven by booming demand from emerging markets.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.