HVS In Focus: Experiential Travel
This article provides an overview of trends in the luxury leisure travel.
By Ezio Poinelli, Director of the HVS Milan Office
Over the past several years, and particularly after the 2008 global recession, there has been a notable shift in the preferences of buyers of luxury goods and services. Gone are the days of opulent excess as research has repeatedly shown "a shifting tendency among the affluent to seek and discover authentic experiences as opposed to purchasing and owning physical luxury items" (2014 MasterCard Affluent Report). For instance, over 72% of respondents in a 2013 American Express survey said they would rather spend money on experiences than material goods. Moreover, luxury consumers desire bespoke and personalized products and services, and nowhere is this truer than in luxury travel.
Ezio has more than 17 years experience in Hospitality, Real Estate, and Leisure Real Estate markets in Europe, Caribbean, Latin America, and South Africa. Before joining HVS, Ezio was Head of Southern Europe at Northcourse Advisory Services (Madrid), the hospitality and real estate consulting arm of Wyndham Worldwide, one of the largest hospitality companies in the world.More from Ezio Poinelli