The Luxury Group by Marriott International launches extensive
research among affluent travelers across six markets
- 68% spending more on leisure travel with 74% respondents
planning an intra-regional holiday within Asia-Pacific (APAC)
- Australia is the top
destination in next 12 months ahead of Japan, with 46% planning to visit
- Indian HNW are driving luxury travel with 89% Indians planning
to spend more in next 12 months
- High-end gastronomy is the primary driver for luxury travel
with 88% planning holidays around food
- Three new personas of luxury traveler defined
SINGAPORE, July 1, 2024
/PRNewswire/ -- As the Asia
Pacific region continues to be the growth engine for luxury
travel, a new comprehensive report from the Luxury Group by
Marriott International has identified new expectations and travel
preferences among high-net-worth (HNW) travelers in Asia Pacific. Across the region, 68% are
planning to spend more on travel over the next 12 months – 89%
among Indians - with 74% planning to travel within Asia Pacific and 88% prioritizing gastronomy
as the reason to travel. One in four of all holidays planned
(25%) are celebrations. Three distinct new groups of luxury
traveler have emerged – the 'Venture Travelist' who seeks business
opportunities when traveling, 'Experience Connoisseur' Millennials
who are traveling for enrichment and 'Timeless Adventurer', over
65s who are building their own itineraries and exploring places
before they become popular.
"Our New Luxe Landscapes Report provides deeper behavioral
insights and motivations into elite travelers from Asia and the Pacific," says Oriol Montal,
Managing Director, Luxury, Asia
Pacific (excluding China),
Marriott International. "Whether it's discovering new culinary
experiences, traveling with their family or friends, or looking to
forge connections with the local community, our research has
identified new traveler archetypes, and provides Marriott
International with new understandings in catering to this
discerning traveler segment."
Deeper Extended Experiences With Their
People
The research among HNW travelers in Australia, Singapore, South
Korea, Japan, Indonesia and India reveals they are traveling
frequently with longer holidays especially across the
Asia Pacific region. An average of
six leisure trips is planned within the next 12 months while 33% of
respondents are planning at least seven holidays this year. On
average, a short stay comprises three nights while a long stay is
two-and-a-half weeks. For many, the kinship and connection within a
group enhances the richness of the travel experience, with over 70%
choosing to travel with family or friends.
Australia is the destination of
choice (46%), above Japan (42%)
and Hong Kong, China (27%).
69% of India's HNW tourists are
planning a trip to Australia and it is the top destination of
choice for Indonesian, Japanese and Singaporean travelers.
Increasing Demand in India
The most active and engaged
travel market, 89% of Indian HNW say they are planning to spend
more on travel. Families and friends are touring together to mark
key milestones, attend a private function or event, with 38%
planning a trip with friends and 33% making theirs a celebratory
trip.
A Fascination for Food
88% are picking their holiday
destination based on discovering a new food or culinary experience.
Acutely aware of dining trends, almost half of the respondents
(49%) describe a fine dining experience as an ideal night out.
Reinforcing this point, 83% will choose a destination to visit an
award-winning restaurant and 35% agreed they would spend more on
unique culinary experiences. When choosing a hotel, 81% of HNW
travelers make their selection based on fine dining options and 83%
choose a destination so they can visit a celebrated restaurant.
New Traveler Personas
With more
disposable income for holidays and a growing population of
ageing travelers, the research has identified three new
categories of affluent travelers. These include:
i) The 'Venture Travelist'
The next-generation Bleisure tourist, the Venture Travelist
prioritizes holiday destinations that will generate business
opportunities. While they enjoy their vacation with their family
and loved ones, they are always on the lookout to secure a
deal. Entrepreneurs at heart, they explore a location,
shopping for local products and antiques, and looking to forge
business connections with members from the local community.
ii) The 'Experience Connoisseur'
Predominantly millennials, Experience Connoisseurs plan their
leisure travel as an opportunity for personal enrichment. They
travel extensively and see the experience as an investment in their
mental and physical wellbeing. They want to deeply explore a
destination, they value personalization and actively seek exclusive
one-of-a-kind experiences.
iii) The 'Timeless Adventurer'
Debunking every stereotype of the over-65 'silver set
travelers', Timeless Adventurers are keen explorers who want to
immerse themselves in a destination. They're less interested in
tourist attractions and more drawn to what gives the destination a
sense of place, what makes it unique and memorable.
The full report is available to download.
Note to Editor
Findings are from a research report
commissioned by Marriott International Luxury Group conducted over
a period from April 18, 2024, to
May 13, 2024, with frequent
international travelers who primarily travel for leisure. The study
targeted the wealthiest 10% of residents in Australia, Singapore, India, Indonesia, South
Korea, and Japan with 200
respondents from each market.
Refer to Annex A for additional data on the preferences
of luxury travelers across the APEC region.
About Marriott International
Marriott
International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a
portfolio of nearly 8,900 properties across more than 30 leading
brands in 141 countries and territories. Marriott operates and
franchises hotels and licenses vacation ownership resorts all
around the world. The company offers Marriott Bonvoy®, its highly
awarded travel program. For more information, please visit
our website at www.marriott.com, and for the latest company
news, visit www.marriottnewscenter.com. In addition,
connect with us on Facebook and @MarriottIntl
on X and Instagram.
About Marriott International Luxury Portfolio
With an
unrivaled portfolio of eight dynamic luxury brands, Marriott
International is creating authentic, rare, and enriching
experiences sought by today's global luxurian. Spanning all corners
of the world, Marriott International's luxury brands group offers a
boundless network of more than 510 landmark hotels and resorts in
70 countries and territories through The Ritz-Carlton, Ritz-Carlton
Reserve, Bvlgari Hotels & Resorts, St. Regis Hotels &
Resorts, EDITION, The Luxury Collection, JW Marriott, and W Hotels.
From the world's most iconic destinations to the ultimate
undiscovered gems, the international hospitality leader's
collection of luxury brands is focused on elevating travel with
highly contextualized, nuanced brand experiences that signal the
future of luxury by allowing guests to indulge their passions while
sparking personal growth.
ANNEX A: 10 INTRIGUING FACTS ABOUT THE
CHANGING FACE OF LUXURY TRAVELERS ACROSS THE
APAC REGION
Most engaged travel market is India. 89% of high-net-worth (HNW) Indians are
planning to spend more on their leisure travel, looking at six
trips over the course of the year, with an average three-four
nights for a short trip and two-three weeks for a long
holiday.
Most self-sufficient travelers are Singaporeans. 61%
prefer to travel independently and curate their own itinerary,
versus 43% across the region.
Most pressing social issue is sustainable travel. Mindful
of the impact their travel has on the environment, 80% of HNW
travelers say a hotel's sustainability and environmental practices
is a consideration when deciding where to stay. 43% want to see
hotel restaurants offering locally-sourced food products and a
further 35% expect to see effective management of food waste.
Most likely to holiday longer are Australians. With
Australians entitled to a minimum of four weeks annual leave, it's
not surprising they take the longest holidays with 73% planning a
minimum two-week getaway and 33% taking over three weeks.
Similarly, a third of Indonesians expect their trips will extend
beyond three weeks.
Most important factor in a luxury experience is a
sense of security. Most respondents (91%) say a safe environment is
more important than exceptional service (41%), engaging in an
exclusive experience (36%) or having a truly personalized
experience (33%).
Best reason to shop overseas is to purchase locally
made products. For HNW individuals, shopping is a key driver to
travel and 85% of respondents say access to locally-made products
is a key consideration when deciding where to travel.
Most likely to stay within their hotel are South Korean
travelers. 54% of travelers surveyed would rather spend time at
their hotel or resort rather than exploring local attractions or
engaging with the locals.
Most favored cuisine is authentic local dishes, with
over 62% preferring to explore unfamiliar local flavors over food
from home.
Top mark of a luxury holiday is discovering a new
destination, with 78% regarding it as important or very
important.
Most valued luxury experience is an immersive
and refined sense of space, with 80% defining luxury travel as
being surrounded by refined craftsmanship and exquisite design.
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SOURCE Marriott International, Inc.