Travel has always been a mainstay of the luxury market. Luxury hotel experiences in our lives with the desire created for journeys and destinations that aim to be both extraordinary and highly aspirational.
A recent study by the Boston Consulting Group (BCG) identified a shift from “owning a luxury to experiencing a luxury” with bespoke treats now accounting for more than half of the $1.4tn spent on luxury goods and services last year (The Guardian).
“Bespoke treats and luxury ‘experiences’ now account for more than half of the $1.4tn spent on luxury goods”
Today, however, it is no longer about ticking the boxes with a one-of-a-kind destination holiday, multi-starred hotels or a far-flung Spa. Now it is their difference that sparks our interest and instead, we are seeking destinations that create new doorways to the unexpected… We are shifting towards a new luxury hotel experiences with unique escapism matched by an individual aesthetic.
Accommodation is perhaps becoming important than the destination – or actually becoming the desired destination. The boutique sector certainly coined this approach to take the hotel and hospitality sector in a brand new direction. But the hotels that are really winning out now are those catering to every different type of personality and taste. And this is becoming ever more thoughtful and tailored.
To date, the most emergent behavior is coming from the one night only hotels. The excitement and novelty of the one night rule is a huge draw for the experiential consumer but it is also about a unique nature of the location or room of these hotels. The owners of these venues are assuming the role of creators, or actually curators, as they define the character and personality of their establishment and location through the architecture, design, and artwork.