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Luxury Holidays - UK - June 2010

  • Luxury holidays have accounted for approximately 5% of all breaks since 2008, an increase from the 4% recorded in 2005/06/07 because they were not hit as badly by the recession as the overall holiday market was.
  • The recession’s impact was evident in the number of holidays that luxury holidaymakers took across the year rather than in the number of consumers taking a luxury holiday. Year-on-year, this latter figure actually grew by between 7% - 8% in 2009. However the percentage of luxury holidaymaker taking three or more luxury breaks per year fell by 15.1 percentage points in the same period.
  • Top-spenders were more likely to travel abroad than stay at home - 1% of people who took holidays in the UK in 2009 spent over £5,001 across the whole year; while 11% of overseas holidaymakers did so.
  • Online luxury holiday bookings have grown at the expense of travel agent and telephone use. However the three methods are now almost equally popular, unlike in the wider holidays market where online dominates. Despite losing out in booking terms, the use of travel agents throughout the process has increased - ‘the human touch’ is an important part of the luxury experience for many.
  • The key elements of a luxury holiday have remained consistent in the eyes of consumers – good weather, high quality accommodation and fine food. A clear change in attitude is the drop in the percentage that consider travelling in comfort a necessity – down from one-in-two in February 2008 to approximately four-in-ten in December 2009.
  • Luxury holiday-makers are most likely to be well-off older adults without dependent children, specifically 45-54 year-olds. Overall, around six in ten people rule themselves out of the market, showing little interest in luxury breaks and being most likely to say these trips are only for the rich. However there are many members of this group that could be targeted by operators – more than one-third of those living in top earning-band households are here, for example, as are over four in ten from the high end AB socio-economic group.

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Table of contents

  1. Issues in the Market

      • Key issues
        • Definition
          • Abbreviations
          • Future Opportunities

            • Plans and rewards
              • No frills plus frills
              • Market in Brief

                • Four million in 2010
                  • Luxury is…
                    • Type and destination
                      • Travel and comfort
                        • Who goes?
                          • Targets
                          • Internal Market Environment

                            • Key points
                              • Emerging from recession
                                • Figure 1: Domestic vs overseas holidays, by volume, 2005-10
                              • Cost concerns
                                • Figure 2: Domestic vs overseas holidays, by value, 2005-10
                                • Figure 3: Average spend per trip, 2005-10
                              • How many holidays?
                                • Figure 4: Percentage of adults booking UK and overseas holidays, 2009
                              • Inclusivity versus exclusivity
                                • Figure 5: Inclusive holidays versus independent holidays abroad, by volume, 2005-09
                                • Figure 6: Method used to book last holiday abroad, 2005-09
                                • Figure 7: Scheduled passengers carried by main low-cost airlines, 2005-09
                              • Europe top, but growth elsewhere
                                • Figure 8: Outbound holiday visits, by region visited, 2005-09
                                • Figure 9: Top 20 overseas holiday destinations, by number of visits, 2005-09
                            • Broader Market Environment

                              • Key points
                                • Inching out of recession
                                  • Figure 10: GDP, PDI, consumer expenditure and savings, at current prices, 2005-15
                                • Ageing population presents difficulties…
                                  • Figure 11: Trends in the age structure of the UK population, by gender, 2005-15
                                  • Figure 12: Experience of/likelihood to take luxury holiday, by lifestage, December 2009
                                  • Figure 13: Forecast adult population trends, by lifestage, 2005-15
                                • … but AB boost is better
                                  • Figure 14: Forecast adult population trends, by socio-economic group, 2005-15
                                • Household size
                                  • Figure 15: UK households, by size, 2005-15
                                • Internet penetration
                                  • Figure 16: Broadband penetration, by demographics, 2004-09
                                • Exchange rates versus destinations
                                  • Figure 17: Sterling versus selected currencies’ exchange rates at 30 March each year, 2006-10
                              • Competitive Context

                                • Key points
                                  • Luxury holds up
                                    • Figure 18: Overall compared with luxury holiday volume, 2005-10
                                  • Priorities
                                    • Figure 19: What extra money is spent on, November 2009-April 2010
                                    • Figure 20: Holidays that extra money is spent on, by selected demographics, April 2010
                                • Strengths and Weaknesses in the Market

                                    • Strengths
                                      • Growing number of ABs (and C1s)
                                        • Top end least likely to have cut back
                                          • Market size holding up
                                            • Innovative marketplace driven by demand
                                              • Weaknesses
                                                • Recessionary impact weakens growth possibilities…
                                                  • … and extends ‘can’t right nows’
                                                    • Ageing into retirement
                                                      • Family lifestage growth
                                                        • Age of austerity
                                                        • Who’s Innovating?

                                                          • Key points
                                                            • Image is all
                                                              • The personal touch
                                                                • Cruising along
                                                                  • High fliers
                                                                    • Riding the rails
                                                                      • Scottish touch
                                                                        • LVMH, Armani and Gucci launch hotels
                                                                          • Mr & Mrs Smith improves
                                                                            • Virgin – underwater/out of this world
                                                                            • Market Size and Forecast

                                                                              • Key points
                                                                                • Some recessionary impact
                                                                                  • Figure 21: Total holidays and Luxury holidays, by number of trips, 2005-15
                                                                                • Positive signs
                                                                                  • Big spenders
                                                                                    • Figure 22: Domestic versus overseas holiday spending in the last 12 months, November 2009
                                                                                • Segment Performance

                                                                                  • Key points
                                                                                    • Long luxury holidays
                                                                                      • Figure 23: Number of nights spent away on a luxury holiday, 2005-09
                                                                                    • ... and long-haul
                                                                                      • Figure 24: Regional destination of last luxury holiday, 2005-09
                                                                                      • Figure 25: Detailed destination of last luxury holiday, 2005-09
                                                                                    • Flying high...
                                                                                      • Figure 26: Transport used on last luxury holiday, 2005-09
                                                                                    • … cruising along
                                                                                      • Figure 27: Type of luxury holiday taken, 2005-09
                                                                                    • Solo surge
                                                                                      • Figure 28: Number of group members on luxury holiday, 2005-09
                                                                                  • Companies and Products

                                                                                      • Abercrombie & Kent
                                                                                        • Cox & Kings
                                                                                            • Figure 29: Cox & Kings UK, key financials, 2008-09
                                                                                          • Hayes and Jarvis
                                                                                            • Kuoni
                                                                                              • Thomas Cook
                                                                                                • TUI UK Limited
                                                                                                    • Figure 30: TUI Travel’s UK & Ireland, key financials, 2008-09
                                                                                                  • British Airways
                                                                                                      • Figure 31: British Airways, key financials, 2008/09-09/10
                                                                                                    • Cruises
                                                                                                    • Channels to Market

                                                                                                      • Key points
                                                                                                        • Online for luxury grows
                                                                                                          • Figure 32: Method used to book last luxury holiday, 2005-09
                                                                                                        • Agents hold on
                                                                                                          • Figure 33: Channels to market for luxury holidays, 2005-09
                                                                                                          • Figure 34: Sources used to get information on last independent luxury holiday, 2005-09
                                                                                                      • Holidays Taken

                                                                                                        • Key points
                                                                                                          • Over 30 million holidayed in 2009
                                                                                                            • Figure 35: Types of holiday taken in the last 12 months, December 2009
                                                                                                          • UK versus Away
                                                                                                            • Who takes holidays?
                                                                                                            • What Makes a Luxury Holiday?

                                                                                                              • Key points
                                                                                                                • Key factors consistent
                                                                                                                  • Figure 36: Most important elements of a luxury holiday, February 2008 and December 2009
                                                                                                                  • Figure 37: Most important elements of a luxury holiday abroad or in the UK, February 2008 and December 2009
                                                                                                                • Bedrooms and kitchens
                                                                                                                  • Travel turn and new experiences
                                                                                                                    • Figure 38: Overseas holiday-makers’ agreement with statement: “I would be happy to mix low-cost flight with a luxury hotel”
                                                                                                                • Luxury Holiday Experience and Plans

                                                                                                                  • Key points
                                                                                                                    • Experience has risen, but appetite falls
                                                                                                                      • Figure 39: Luxury holiday experience and plans, February 2008-December 2009
                                                                                                                      • Figure 40: Luxury holiday experience and plans abroad or in the UK, February 2008-December 2009
                                                                                                                    • Who has been, and who plans to go?
                                                                                                                      • Not right now… and not ever
                                                                                                                        • Celebrate good times
                                                                                                                          • Elements and experience
                                                                                                                            • Figure 41: Luxury holiday experience and plans by most popular elements of a luxury holiday, December 2009
                                                                                                                        • Attitudes Towards Luxury Holidays

                                                                                                                          • Key points
                                                                                                                            • Get them while (the kids) are young
                                                                                                                              • Figure 42: Attitudes towards luxury holidays, December 2009
                                                                                                                            • The rich and the recession
                                                                                                                              • Brand by design
                                                                                                                                • Planners and service
                                                                                                                                  • Figure 43: Attitudes towards luxury holidays, by most popular statements on experience and plans regarding the same, December 2009
                                                                                                                                  • Figure 44: Attitudes towards luxury holidays, by most popular elements of a luxury holiday, December 2009
                                                                                                                              • Targeting Opportunities

                                                                                                                                • Key points
                                                                                                                                  • Target groups
                                                                                                                                    • Figure 45: Luxury holidays target groups, December 2009
                                                                                                                                  • Take me away
                                                                                                                                    • Independent
                                                                                                                                      • Family focused
                                                                                                                                        • Two’s a crowd
                                                                                                                                          • Not for me
                                                                                                                                          • Appendix – Holidays Taken

                                                                                                                                              • Figure 46: Most popular types of holiday taken in the last 12 months, by demographics, December 2009
                                                                                                                                              • Figure 47: Next most popular types of holiday taken in the last 12 months, by demographics, December 2009
                                                                                                                                              • Figure 48: Most popular types of holiday taken in the last 12 months, by demographics, December 2009
                                                                                                                                              • Figure 49: Other types of holiday taken in the last 12 months, by demographics, December 2009
                                                                                                                                              • Figure 50: Least popular types of holiday taken in the last 12 months, by demographics, December 2009
                                                                                                                                          • Appendix – What Makes a Luxury Holiday?

                                                                                                                                              • Figure 51: Most popular elements of a luxury holiday, by demographics – Any holiday, December 2009
                                                                                                                                              • Figure 52: Next most popular elements of a luxury holiday, by demographics – Any holiday, December 2009
                                                                                                                                              • Figure 53: Other elements of a luxury holiday, by demographics – Any holiday, December 2009
                                                                                                                                              • Figure 54: Most popular elements of a luxury holiday, by demographics – Any overseas holiday, December 2009
                                                                                                                                              • Figure 55: Next most popular elements of a luxury holiday, by demographics – Any overseas holiday, December 2009
                                                                                                                                              • Figure 56: Other elements of a luxury holiday, by demographics – Any overseas holiday, December 2009
                                                                                                                                              • Figure 57: Most popular elements of a luxury holiday, by demographics – Any UK holiday, December 2009
                                                                                                                                              • Figure 58: Next most popular elements of a luxury holiday, by demographics – Any UK holiday, December 2009
                                                                                                                                              • Figure 59: Other elements of a luxury holiday, by demographics – Any UK holiday, December 2009
                                                                                                                                          • Appendix – Luxury Holiday Experience and Plans

                                                                                                                                              • Figure 60: Luxury holiday experience and plans, by second most popular elements of a luxury holiday, December 2009
                                                                                                                                              • Figure 61: Luxury holiday experience and plans, by least popular elements of a luxury holiday, December 2009
                                                                                                                                              • Figure 62: Most popular statements on luxury holiday experience and plans, by demographics – Any holiday, December 2009
                                                                                                                                              • Figure 63: Next most popular statements on luxury holiday experience and plans, by demographics – Any holiday, December 2009
                                                                                                                                              • Figure 64: Most popular statements on luxury holiday experience and plans, by demographics – Any overseas holiday, December 2009
                                                                                                                                              • Figure 65: Next most popular statements on luxury holiday experience and plans, by demographics – Any overseas holiday, December 2009
                                                                                                                                              • Figure 66: Most popular statements on luxury holiday experience and plans, by demographics – Any UK holiday, December 2009
                                                                                                                                              • Figure 67: Next most popular statements on luxury holiday experience and plans, by demographics – Any UK holiday, December 2009
                                                                                                                                          • Appendix – Attitudes Towards Luxury Holidays

                                                                                                                                              • Figure 68: Attitudes towards luxury holidays, by second most popular statements on luxury holiday, December 2009
                                                                                                                                              • Figure 69: Attitudes towards luxury holidays, by second most popular elements of a luxury holiday, December 2009
                                                                                                                                              • Figure 70: Attitudes towards luxury holidays, by other elements of a luxury holiday, December 2009
                                                                                                                                              • Figure 71: Most popular attitudes towards luxury holidays, by demographics, December 2009
                                                                                                                                              • Figure 72: Next most popular attitudes towards luxury holidays by demographics, December 2009
                                                                                                                                          • Appendix – Targeting Opportunities

                                                                                                                                              • Figure 73: Attitudes towards luxury holidays, by target groups, December 2009
                                                                                                                                              • Figure 74: Most important elements of a luxury holiday, by target groups, December 2009
                                                                                                                                              • Figure 75: Statements on luxury holiday, by target groups, December 2009
                                                                                                                                              • Figure 76: Target groups, by demographics, December 2009

                                                                                                                                          Companies Covered

                                                                                                                                          • Abercrombie & Kent
                                                                                                                                          • Asda Group Ltd
                                                                                                                                          • Avro plc
                                                                                                                                          • Bluewater Shopping Centre
                                                                                                                                          • British Airport Authority
                                                                                                                                          • British Airways Holidays
                                                                                                                                          • British Airways Plc
                                                                                                                                          • British Market Research Bureau (BMRB)
                                                                                                                                          • Co-operative Group
                                                                                                                                          • Council of Mortgage Lenders
                                                                                                                                          • Cox and Kings
                                                                                                                                          • Cunard Line
                                                                                                                                          • CV Travel
                                                                                                                                          • Elegant Resorts
                                                                                                                                          • Elemis Ltd.
                                                                                                                                          • Emirates
                                                                                                                                          • Eurostar UK Ltd
                                                                                                                                          • Eurotunnel Shuttle Services
                                                                                                                                          • First Choice Holidays & Flights Ltd
                                                                                                                                          • Freeview
                                                                                                                                          • Gfk NOP
                                                                                                                                          • Giorgio Armani S.p.A.
                                                                                                                                          • Google UK
                                                                                                                                          • Government Actuary's Department (GAD)
                                                                                                                                          • Gucci Group N.V.
                                                                                                                                          • Hayes & Jarvis (Travel) Ltd
                                                                                                                                          • Hilton Group plc
                                                                                                                                          • HM Revenue & Customs
                                                                                                                                          • International Air Transport Association
                                                                                                                                          • J. Sainsbury
                                                                                                                                          • Kantar Media
                                                                                                                                          • Kirker Travel Ltd
                                                                                                                                          • Kuoni Travel Ltd
                                                                                                                                          • Lake District National Park Authority
                                                                                                                                          • LVMH Moët Hennessy Louis Vuitton SA
                                                                                                                                          • Market & Opinion Research International (MORI)
                                                                                                                                          • Marks & Spencer
                                                                                                                                          • MAXjet
                                                                                                                                          • National Trust (Enterprises) Ltd
                                                                                                                                          • Office for National Statistics
                                                                                                                                          • P&O Cruises
                                                                                                                                          • Peak District National Park
                                                                                                                                          • Pierre & Vacances
                                                                                                                                          • Post Office Limited
                                                                                                                                          • Premier Holidays
                                                                                                                                          • Premier Travel Inn
                                                                                                                                          • Royal Academy of Arts
                                                                                                                                          • Royal Caribbean Cruises Ltd.
                                                                                                                                          • Ryanair Holdings plc
                                                                                                                                          • Saga Holidays
                                                                                                                                          • Silverjet Aviation Limited
                                                                                                                                          • Singapore Airlines Ltd
                                                                                                                                          • Skyscanner Ltd
                                                                                                                                          • Teletext Holidays
                                                                                                                                          • Tesco Plc
                                                                                                                                          • Thomas Cook Group PLC
                                                                                                                                          • Thomson Holidays
                                                                                                                                          • TUI AG
                                                                                                                                          • TUI Travel PLC
                                                                                                                                          • Virgin Holidays
                                                                                                                                          • Voyages Jules Verne
                                                                                                                                          • Waitrose
                                                                                                                                          • Western & Oriental plc
                                                                                                                                          • Wm Morrison Supermarkets
                                                                                                                                          • World Tourism Organisation

                                                                                                                                          Luxury Holidays - UK - June 2010

                                                                                                                                          £1,995.00 (Excl.Tax)