Luxury Travel - UK - November 2016
“While high-net-worth individuals should have the means to cope with any negative economic effects caused by Brexit, a sizeable proportion of luxury travellers are actually more concerned with Brexit than the average holidaymaker population. One way to encourage bookings in the next year could be a more flexible range of payment options.”
– Fergal McGivney, Travel Analyst
This report is looking at the following areas:
- Travel agents can prosper in the luxury niche
- Luxury holidaymakers show more concern over negative effects of Brexit
Identifying the luxury traveller is problematic, given the lack of clear-cut criteria for defining this market. Mintel approached this problem from a number of angles, firstly asking consumers:
“How much, if at all, did you spend, per adult, on the most expensive holiday you’ve been on over the past 5 years? Please only consider the cost of transport, accommodation, board etc. Exclude any extra spending while on holiday (eg non-inclusive meals, attractions).”
“How long was the most expensive holiday you’ve been on over the past 5 years?”
As a further check, Mintel also asked holidaymakers if they had spent £250 or more per night on a hotel stay (including breakfast but not other meals) or stayed in five-star accommodation.
Mintel then combined the responses on levels of holiday expenditure with trip duration to arrive at three luxury traveller categories:
- Those who have spent £1,000+ per adult on a break of six nights or less.
- Those who have spent £1,500+ per adult on a stay of seven to 13 nights.
- Those who have spent £3,000+ per adult on a holiday of 14 nights or more.
These three categories are collated in the group Big-ticket Holiday Spenders.
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