Small Luxury Hotels of the World Reveals New Luxury Travel Trends

The study discloses the recent progression of the consumption of luxury, as well as identifying new luxury travel trends including preferred destinations, expenditures and more. With a growing portfolio of 520 hotels in 70 countries, SLH continues to emerge as an authority in the luxury travel industry.

The consumption of luxury

Of SLH consumers surveyed, the large majority of respondents reported that for the past five years, their consumption of luxury products has risen most significantly in the travel (62%), technology (62%) and food and drink (60%) sectors. The consumption of luxury health and beauty products has also increased, but in a less significant manner overall (51%).

Russian respondents claim the greatest surge in the consumption of luxury products over the last five years with almost 90% indicating an increase across both the travel and food and drink sectors, and 80% in the technology sector. Within the luxury health and beauty sector, a larger percentage of respondents from the emerging markets indicate a rise in the consumption of luxury health and beauty products (64% in Latin America, 64% in China and 86% in Russia).

Luxury tourism

When asked to choose just one luxury item, the most popular choice was a luxury vacation (42%), followed by a memorable experience (40%), highlighting the preference for a luxury vacation or experience over other tangible luxury items. Canada was an exception with 58% of Canadian respondents choosing a luxury car.

Regarding favorite luxury destinations, the Maldives achieved the top spot (13%), followed by Italian and French destinations (12% and 11% respectively). The USA and Canada were the only markets where the Maldives did not place in the top three luxury destinations, with both markets favoring European destinations, particularly France (22% and 23% respectively for the USA and Canada).

When identifying the most important elements of luxury travel, five star facilities and authentic experiences were the most popular choices (28% and 26%). Canadian and Latin American respondents placed more emphasis on authentic experiences (39% and 36% respectively), while the majority of British respondents' preferred five star facilities over any other element. German respondents favored 'a home away from home' as the most important factor when choosing a luxury hotel (30%), which also proved important to the Chinese (27%) and Latin Americans (22%); while Brits and Americans place little emphasis on the need for a 'home away from home' (10% and 11% respectively). Personal service was also significant, particularly for Australian and American respondents, accounting for 26% and 24% respectively (compared to an average of 17%).

A secluded beach resort is the most popular idea of a luxury holiday, chosen by 43% of respondents. Beaches have less appeal for Latin Americans, however, with the majority opting for a state-of-the-art city center hotel (36% compared to an average of 16%). Eco lodges are popular with respondents from the USA with almost a third (30%) choosing this as their preferred option compared to an average of 14%. France, Germany and the UK also favored country mansions while Chinese and Russian respondents showed an above average preference for spa and wellness resorts.

In terms of expenditure, 84% of respondents said they would not be prepared to spend more than USD $3,000 on a luxury weekend break. 55% Fifty-five percent of Chinese said they would spend less than USD $1,600 on a luxury weekend vacation, while almost a third (30%) of Russian respondents would be willing to spend more than USD $3,000 on a luxury weekend.

The survey was conducted in August 2013 and completed by over 800 SLH customers across the globe with the objective of identifying the luxury habits and desires of SLH customers. With over 520 hotels worldwide in more than 70 countries, SLH strives to provide the best diversity and quality of hotels in the world. Its unrivaled portfolio offer guests authentic luxury experiences, from spas, country houses, golf resorts, island retreats, city sanctuaries, to game and wilderness lodges.

Visit website: www.slh.com

Photo: Naladhu Maldives, a member of Small Luxury Hotels of the World