There are several trends driving record levels of demand for the hospitality industry, namely Luxury and Revenge Travel. Buxton’s Jack Hall explores the changing market and highlights key demand influences and the best ways to navigate them.
The key to staying competitive is understanding each customer within each segment of your existing and potential hotel portfolio. Buxton’s comprehensive data platform brings hotel developers the insight to identify their ideal guests and better target their marketing efforts. Capitalize on this demand by learning what market aligns with your brand concept.
Experiential Travelers
The hotel is now an integral component of the luxury travel experience, acting as a destination instead of just a place to sleep at night. This change in demand has led to the growth of experiential travel options, such as adventure travel, cultural immersions, and wellness retreats. To determine if your ideal guest is in this group, Buxton identifies local attractions and complementary businesses to draw in experiential guests. Many in this group are digital nomads, ready to work and stay in a great location.
Sustainable Luxury Hoteliers
Sustainability is increasingly important to some travelers, who are looking for hotels and resorts that prioritize environmental and social responsibility. This trend has led to the growth of eco-friendly luxury accommodations and sustainable tourism initiatives. This emerging group includes both single people and young families, best targeted through social media.
Personalized Travel Guests
Luxury travelers are also seeking out more personalized experiences, such as customized itineraries and one-of-a-kind activities. Hotels and tour operators are responding by offering tailored experiences and concierge services. These travelers need targeted advertising and customized experiences.
Multigenerational Travel
Is your guest part of a growing family? Luxury travelers are increasingly traveling with multiple generations, leading to a rise in demand for family-friendly luxury accommodations and activities. Hotels and resorts are responding by offering more family-oriented amenities and experiences.