US: Global payments enablement and software company, Flywire, has published its findings from a recent independent research study of more than 600 frequent luxury travellers from the United States about their thoughts on the travel recovery.
Flywire commissioned Regina Corso Consulting to facilitate the study – entitled The Luxe Life: Luxury Travel’s Role in the Industry’s Recovery – which was conducted online between 25 October and 1 November. It is anticipated that the key insights from the study will help companies in the travel industry around the world to prepare for a significant bounce-back and adapt to the new landscape.
According to Flywire, the rising vaccination rates and reopening of borders is leading to renewed confidence among individuals that they will be able to act upon their pent-up desire for new travel experiences, following two years of instability due to the pandemic.
Despite the Omicron variant, 3 January was the busiest travel day of the pandemic so far in the United States, with more than 1.3 million travellers passing through airport security, according to the Transportation Security Administration [TSA].
One cohort that appears to be leading the travel recovery are individuals who identify as luxury travellers, those who have saved up money during the lockdowns and are now looking further afield for unique vacation experiences. According to luxury travel advisory company Virtuoso, the average length of stay for a hotel booked in January 2022 is 63 per cent longer than in January 2020.
Another trend that the study explores is how luxury travellers are using travel agents or advisors to help them make their travel decisions, particularly when it comes to navigating evolving health and safety and cancellation policies. These agents and advisors are being tasked with providing guidance on high-end experiences to reassure luxury travellers in a post-Covid-19 world, with more than half of those surveyed saying that they will consult an advisor in 2022 ahead of an expected travel boom.
The 648 US adults surveyed included individuals who are / have:
- 18 and older with a household income of at least $100,000 a year
- Travelled at least twice during the past 18 months for pleasure
- Pre-pandemic travelled at least twice a year for pleasure
- Spending, on average, at least $4,000 per person on vacations considering accommodations, travel, meals and activities
The report also highlights key information such as the top 2022 luxury travel destinations and how luxury travel preferences have changed over time.
To download Flywire’s latest report, click on this link.
Luxury will also be the main topic of conversation when ShortTermRentalz’ RockSTRz webinars return for a fifth series on Tuesday 22 February [4pm GMT] with a session on “Defining the new era of luxury”.
The session, sponsored by NoiseAware and Flywire, will address everything from how travellers’ perceptions of luxury compare now to pre-Covid-19, to the trending luxury concept and features that are most in demand and how the emergence of hotel brands in the short-term rental space is driving professionalisation of the segment.
STRz editor Paul Stevens will be joined by Mohannad Zikra, co-founder and CEO, Stella Stays; Paul Johnson, editor, A Luxury Travel Blog; and Paola Gheis, co-founder, LUXRE – The Luxury Rentals Event; director, Paola Gheis Luxury Rental Consulting.
Sign up to the upcoming webinar at the link here.