The Vdara Hotel & Spa was one of the locations where the 34th annual Virtuoso Travel Week took place.
Over 4,000 industry professionals from 100 countries attended the fashion week of the luxury travel industry in person.
The travel industry has a great human connection due to the 180,000 one-to-one networking appointments that took place.
The Globetrotting sessions allowed for a more in-depth look at specific brands in a variety of categories.
The CEO of the Saudi Tourism Authority called the eventinspiring.
The growth of luxury travel has surprised me. The network of virtuosos was outstanding. The new initiatives that the network announced and launched and the commitment from the trade to go the extra mile to leverage revenge travel have been very inspiring. I thought of recovery and now I'm thinking of growth.
The first-ever global consumer-facing campaign for Virtuoso, a redesign to email marketing campaigns for advisors to use, and the launch of Hospitable Me Training are some of the initiatives and announcements.
Lindsey Epperly is the founder and CEO of Jetset World Travel.
It's an important event for Epperly and his entire team. It's a great team-building opportunity and we love interacting with our team. I think it's important to bring everything else in person, especially since we've just gone through what this industry has just gone through.
In order to reveal the latest trends in luxury travel, Virtuoso tapped into its vast network that includes 20,000 travel advisors from around the world, as well as their preferred relationships with high net worth clients.
Sales of outbound leisure travel have rebounded. The U.S. has already beaten Australia and Canada by more than 100 percent by the end of the year. The number of outbound travel booked in January-July has surpassed the number of outbound travel booked in the entire year.
Only 12 percent of travelers say there is still too much uncertainty and volatility.
Is this bounce back going to last?
The lifestyle of travel and the concept that we have one life to live, if you wanna take the trip, now is the time to do it. Travel is an important part of the lifestyles of the younger generation. It's something they're not willing to give up, it's something they're willing to spend money on before they spend money on other luxuries, so I think the high demand for travel is normal.
The majority of millionaire households in the United States are made up of people under the age of 30. People who have money are willing to travel.
A majority of travelers who responded to the survey said creating a travel experience that best fits their expectations is more important than price. Travelers plan to increase their previous year's spend by 34 percent to $27,800 in the next year, according to data from Virtuoso.
David Kolner is the Senior Vice President of Strategy at Virtuoso. Travel sales are expected to go up by 47 percent in 2023.
The travel industry is not expected to fully recover until 2024, but luxury travel in key markets continues to grow.
The hotel and on-site leisure booking volume is 157 percent of what it was in 2019.
Traveling with a spouse/ significant other is the most popular form of travel, followed by traveling with friends in second and family trips with children under 18 years old.
Typically for our agency, we book a lot of Caribbean, but also just the type of travel, which is what we are seeing across the board right now. We're seeing our travelers slowing down a bit compared to this time last year, but they're still very much American travelers. I think families want to come together and be together.
The 65+ age group is the most interested in solo travel. Travelers say they are ready to travel. The dollar's parity with the Euro is a factor for 87 percent of the people surveyed, and only 35 percent say that this summer's air travel problems have caused them to cancel or delay plans.
Where their travelers were going was revealed by the company. The United States is first, followed by Italy, France, Canada, and Greece. The United Kingdom, Spain, Mexico, Ireland, and Switzerland are included.
There is a strong Fall season with volume above last year.
Through July of this year, hotel bookings for fall and festive travel are 173 percent of where they were at the same time last year.
The United States, Italy, France, Mexico, and Canada are some of the top international destinations.
71 percent of travelers will travel for vacation, while 21 percent will travel to see family and friends.
The top destinations for holiday travel include islands and beaches, followed by an ocean cruise, and cities outside the US. There was a year-over-year increase in the number of health-focused trips in the next four years.
You better plan now if you're not planning it. It's not too far off. My main message is to plan ahead. A lot of our best travelers have started something that they only know about. Many of our more sophisticated travelers are thinking about their big milestone trips two to three years in advance. Travelers who have a more conscious plan are able to have better overall experiences and take advantage of last-minute stuff because it's in the larger plan.
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