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Luxury Travel - UK - November 2018

“With more brands entering the luxury travel market, it becomes even more important for luxury travel brands to claim their position, differentiate from their competitors and increase brand loyalty. Offering flexibility, personal advice and good deals is key to achieving this.

However, companies will need to go further in order to win the battle, by helping travellers to find an experience that teaches them something new, providing them with a memory that they will carry with them for a lifetime and a story that they will share with many others.”

– Marloes de Vries, Travel Analyst

This report examines the following issues:

  • Social media becomes more powerful in the customer journey
  • Travel expertise comes back in to fashion

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
      • Executive Summary

          • The market
            • HNWI growth in the UK lags behind elsewhere
              • Uncertainties around Brexit put a spotlight on cheaper destinations
                • Figure 1: What effect luxury travellers think Brexit will have on the economy, August 2018
              • Further increase in luxury (expedition) cruises expected
                • The US remains by far the most visited long-haul destination
                  • Figure 2: Top 10 long-haul destinations, by volume of trips (holidays), 2013-17
                • Companies and brands
                  • Kuoni showcases its Personal Travel Experts
                    • DER Touristik introduces tailor-made brand
                      • Airbnb’s additions disruptive for luxury travel suppliers
                        • Automotive and retail are flirting with luxury travel brands
                          • The consumer
                            • Defining the luxury traveller
                                • Figure 3: Luxury traveller segments, August 2018
                              • Even luxury holidaymakers travel economy
                                • Figure 4: Mode of transport used during most expensive holiday in past five years, August 2018
                              • Hotel suites, sea views and wellness are key elements
                                • Figure 5: Luxury elements present during most expensive holiday in past five years, August 2018
                              • The importance of making day trips and excursions bookable
                                • Figure 6: Activities undertaken during most expensive holiday in past five years, August 2018
                              • Luxury travellers want to return richer in knowledge
                                • Figure 7: Attitudes towards luxury holidays, August 2018
                              • Airbnb means serious competition for luxury travel brands
                                • Luxury travellers still love a special offer
                                  • Huge potential for cruising among luxury travellers
                                    • Figure 8: Interest in cruising, August 2018
                                  • Cities and wildlife/nature drive interest in cruising
                                    • Showcasing quality time could convince families to join a cruise
                                      • Showing flexibility in cruising could increase potential
                                        • What we think
                                        • Issues and Insights

                                          • Social media becomes more powerful in the customer journey
                                            • The facts
                                              • The implications
                                                • Travel expertise comes back in to fashion
                                                  • The facts
                                                    • The implications
                                                    • The Market – What You Need to Know

                                                      • HNWI growth in the UK lags behind elsewhere
                                                        • Uncertainties around Brexit put a spotlight on cheaper destinations
                                                          • Further increase in luxury (expedition) cruises expected
                                                            • The US remains by far the most visited long-haul destination
                                                            • Market Background

                                                              • Top earners see decline in real-term income over the longer term
                                                                • Figure 9: Average annual household income after tax and benefits, by quintile, 2008/09-2016/17
                                                              • HNWI growth in the UK lags behind elsewhere
                                                                • Figure 10: Top 10 nations for number of HNWIs*, 2014-17
                                                              • Over half of high earners are confident about their financial situation
                                                                • Figure 11: Consumer sentiment among high earners for the coming year, January 2017-October 2018
                                                              • Holidaying intentions among high earners remain strong
                                                                • Figure 12: Holidaying intentions among high earners, January 2017-October 2018
                                                              • Uncertainties around Brexit put a spotlight on cheaper destinations
                                                                • Figure 13: What effect luxury travellers think Brexit will have on the economy, August 2018
                                                              • Further increase in luxury (expedition) cruises expected
                                                                • Figure 14: UK and Ireland ocean cruise passengers, 2013-17
                                                              • The US remains by far the most visited long-haul destination
                                                                • Figure 15: Top 10 long-haul destinations, by volume of trips (holidays), 2013-17
                                                            • Companies and Brands – What You Need to Know

                                                              • Kuoni showcases its Personal Travel Experts
                                                                • DER Touristik introduces tailor-made brand
                                                                  • Airbnb’s additions disruptive for luxury travel suppliers
                                                                    • Automotive and retail are flirting with luxury travel brands
                                                                    • Luxury Travel Specialists

                                                                      • Despite fall in turnover, Kuoni remains market leader in premium travel
                                                                        • Figure 16: Leading luxury holiday specialist operators, by turnover, 2011-17
                                                                      • Kuoni showcases its Personal Travel Experts
                                                                        • The Inspiring Travel Company makes its debut on TV
                                                                          • DER Touristik introduces tailor-made brand
                                                                            • Mergers to offer more choice and strengthen position of brands
                                                                              • Airbnb’s additions disruptive for luxury travel suppliers
                                                                              • Launch Activity and Innovation

                                                                                • Companies are pushing boundaries to offer exclusive experiences
                                                                                  • Innovations to increase the comfort during travelling
                                                                                    • Personalisation to allow travellers to create their own travel experience
                                                                                      • Automotive and retail are flirting with luxury travel brands
                                                                                        • Increasingly fast-paced lifestyle triggers slower means of travel
                                                                                          • Figure 17: One of the three Grand Suites aboard the Venice Simplon Orient Express
                                                                                      • The Consumer – What You Need to Know

                                                                                        • Volume of luxury traveller segments
                                                                                          • Millennials are willing to spend money on travelling
                                                                                            • Even luxury holidaymakers travel economy
                                                                                              • The importance of making day trips and excursions bookable
                                                                                                • Luxury travellers still love a special offer
                                                                                                  • Huge potential for cruising among luxury travellers
                                                                                                    • Showing flexibility in cruising could increase potential
                                                                                                    • Defining the Luxury Traveller

                                                                                                      • High spending on holidays has not changed much over time
                                                                                                        • Figure 18: Amount spent on most expensive holiday taken, August 2015-August 2018
                                                                                                      • Most expensive holidays last a week or more, but short luxury breaks also appeal
                                                                                                        • Figure 19: Duration of most expensive holiday taken, August 2018
                                                                                                      • Three in 10 holidaymakers have stayed in five-star accommodation
                                                                                                        • Figure 20: Use of premium/luxury holiday accommodation, August 2018
                                                                                                      • Volume of luxury traveller segments
                                                                                                          • Figure 21: Luxury traveller segments, August 2018
                                                                                                        • Millennials are willing to spend money on travelling
                                                                                                          • Figure 22: Luxury traveller segments, by age and household income, August 2018
                                                                                                      • The Luxury Traveller – Modes of Transport

                                                                                                        • Self-drive itineraries not to be overlooked in the luxury segment
                                                                                                          • Figure 23: Mode of transport used during most expensive holiday in past five years, August 2018
                                                                                                        • Even luxury holidaymakers travel economy
                                                                                                          • Figure 24: Mode of transport used during most expensive holiday in past five years, August 2018
                                                                                                        • Room for airports and airlines to take travel experiences to new levels
                                                                                                        • The Luxury Traveller – Products and Services

                                                                                                          • Hotel suites, sea views and wellness are key elements
                                                                                                            • Figure 25: Luxury elements present during most expensive holiday in past five years, August 2018
                                                                                                          • A fifth of luxury travellers enjoyed four or more elements
                                                                                                          • The Luxury Traveller – Holiday Activities

                                                                                                            • The importance of making day trips and excursions bookable
                                                                                                              • Figure 26: Activities undertaken during most expensive holiday in past five years, August 2018
                                                                                                            • The power of social media
                                                                                                              • Figure 27: Activities undertaken during most expensive holiday in past five years, by age, August 2018
                                                                                                          • The Luxury Traveller – Attitudes

                                                                                                            • Luxury travellers want to return richer in knowledge
                                                                                                              • Figure 28: Attitudes towards luxury holidays, August 2018
                                                                                                            • Young urban travellers keen to learn
                                                                                                              • Figure 29: Attitudes towards learning experiences in luxury travel – CHAID, August 2018
                                                                                                            • Airbnb means serious competition for luxury travel brands
                                                                                                              • Figure 30: Attitudes towards luxury holidays, by age, August 2018
                                                                                                            • Luxury travellers still love a special offer
                                                                                                              • Figure 31: The need for special deals/offers, by age and household income, August 2018
                                                                                                          • The Luxury Traveller – Cruises

                                                                                                            • Huge potential for cruising among luxury travellers
                                                                                                              • Figure 32: Interest in cruising, August 2018
                                                                                                            • Cities and wildlife/nature drive interest in cruising
                                                                                                              • Figure 33: Cruise motivators, August 2018
                                                                                                            • Showcasing quality time could convince families to join a cruise
                                                                                                              • Figure 34: Cruise motivators, by age, August 2018
                                                                                                            • Younger potential cruisers are more likely to need an expert/agent
                                                                                                              • Figure 35: Consideration of experts/agents when booking a cruise, by age, August 2018
                                                                                                            • Showing flexibility in cruising could increase potential
                                                                                                              • Figure 36: Attitudes towards cruises – non-potentials, August 2018
                                                                                                          • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                              • Definitions
                                                                                                                • Abbreviations
                                                                                                                  • Consumer research methodology
                                                                                                                    • CHAID analysis methodology

                                                                                                                    Luxury Travel - UK - November 2018

                                                                                                                    US $2,552.20 (Excl.Tax)