Even if you think you've heard enough about millennials and Chinese consumers, it's worth keeping an eye on how both are reshaping the luxury travel industry — especially as brands are looking to target them in the coming years.
Luxury Travel News
The Skift New Luxury column is our weekly column focused on the business of selling luxury travel, the people and companies creating and selling experiences, emerging trends, and the changing consumer habits around the sector.
Chinese consumers and millennials are two of the biggest targets for trends stories. Everyone talks about them having a massive impact on industries like travel but it can be hard to pinpoint exactly what kind of impact.
Well, a couple of recent reports have some good ideas. You can read our summary or, if you have more time, take a look at both of them in full through our links.
Our writer Laura Powell sums it up pretty well: “Luxury companies, in telling the story of their brands, need to weave a consistent tale that extends beyond one season or one marketing campaign.”
— Patrick Whyte, Europe Editor
5 Looks at Luxury
Millennials and Chinese Consumers Are Re-Writing the Luxury Rulebook: The luxury goods market is going to be worth more than $450 billion by 2015 and many of its trends are relevant to travel as well. Younger consumers see brands in a different way than previous generations – and for them consistency is key.
Cathay Pacific’s Long View on Investing Outside of Its Jets: The so-called soft product is often the first to get the knife as airlines undergo turnarounds. Thanks to patient, long-term investors and the desire to be customer-centric, Cathay is investing in its lounges and end-to-end experiences even in the middle of a business turnaround.
China-Based Niccolo Hotels Is Giving Iconic Luxury Brands a Run for Their Money: The posh style of The Murray in Hong Kong is an example of why the hotel industry is buzzing about fast-rising China-based brand Niccolo Hotels. Established brands like Mandarin Oriental, Peninsula, and Shangri-La should watch out.
Luxury Pop-Up Camping Has Arrived in New York City: Camping is camping no matter how much you try to dress it up. But, for the huddled masses of busy New Yorkers trying to escape the summer heat, this is the closest thing to backyard camping you can get.
Qatar-Owned Company Buys New York’s Plaza Hotel But Legal Wrangling Continues: No one said buying one of the world’s most iconic hotels would be easy, and the Plaza sale seems to be a masterclass in hospitality wheeling and dealing.
Have a confidential tip for Skift? Get in touch
Photo credit: Travel brands are still trying to get into the millennial mindset. Leah Kelley / Pexels