Elevated Experiences: 2024 Global Trends In Luxury Travel And Hospitality [Forbes]
ACCOR SA SPNS/ADR (ACCYY)
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Source: Forbes
The global luxury travel market, worth an estimated $1.5 trillion , continues to accelerate as well as diversify after an initial post-pandemic lift. Travel demand and spending, fueled by a near-insatiable curiosity for novel experiences, is expected to increase in 2024 , reports Virtuoso , a global network of luxury and experiential travel agencies and advisors. Wealthy travelers, however, are not all alike. Although some high-net-worth individuals might spring for a $10K champagne bubble bath at Florence's Il Salviatino hotel , others might choose to soak in Esalen Institute' s hot spring baths perched on California's Big Sur coast. Still, the moneyed traveler is usually discerning. “Our traveler is very much the tastemaker, the trendsetter amongst their peers,” says Shannon Knapp , president and CEO of Leading Hotels of the World (LHW), a collection of more than 400 five-star independent luxury hotels in more than 80 countries. “They're constantly looking for what's next. Th
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