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Description

Description

“Luxury holidays have become much more diverse, with luxury travellers increasingly looking beyond beach holidays as they seek unique and varied experiences. Comfort remains a key element of luxury holidays, but exclusivity has become the new luxury in an increasingly crowded travel landscape.”

– Marloes de Vries, Travel Analyst

This report examines the following issues:

  • Flexible search technology is key
  • Making holidays greener through support and inspiration

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Products covered in this Report
      • Executive Summary

          • The market
            • Top earners see decline in household income in 2017/18
              • Volume and value of HNWIs in the UK declined in 2018
                • Volume of sea cruises projected to grow above holiday market average
                  • Long-haul destinations under pressure amid rising demand for shorter breaks
                    • Companies and brands
                      • Leading luxury specialists continue to grow
                        • Audley Travel expands European and cruises offering
                          • Kenwood Travel introduces online booking system
                            • Airbnb expands into luxury market by offering tailor-made stays
                              • Abercrombie & Kent expands group travel by private jet
                                • Boeing invests in Virgin Galactic to make space travel accessible
                                  • The consumer
                                    • Volume of Mintel’s luxury traveller segments
                                      • Luxury holiday types diversify
                                        • Figure 1: Types of luxury holiday taken, August 2017 and August 2019
                                      • Opportunities to provide luxury adventure holidays to families
                                        • Exclusivity is the new luxury
                                          • Figure 2: Meanings attached to luxury holidays, August 2017 and August 2019
                                        • Search technology falls behind travellers’ needs
                                          • Figure 3: Preferred search options on a travel company’s website, August 2019
                                        • Motivation and experiences play a crucial role when young travellers search for a luxury holiday
                                          • Luxury travellers value travel agents with specialist knowledge about the destination
                                            • Figure 4: Attitudes towards paying for travel expert advice and support, August 2019
                                          • Educating travellers is key to making the travel industry greener
                                            • Figure 5: Attitudes towards minimising impact on the environment whilst travelling, by age, August 2019
                                          • Supporting the local economy and staying in eco-friendly accommodation top the list
                                            • Figure 6: Considered sustainable travel options, by luxury traveller groups, August 2019
                                          • What we think
                                          • Issues and Insights

                                            • Flexible search technology is key
                                              • The implications
                                                • Making holidays greener through support and inspiration
                                                  • The implications
                                                  • The Market – What You Need to Know

                                                    • Top earners see decline in household income in 2017/18
                                                      • Volume and value of HNWIs in the UK declined in 2018
                                                        • Volume of sea cruises projected to grow above holiday market average
                                                          • Long-haul destinations under pressure amid rising demand for shorter breaks
                                                          • Market Drivers

                                                            • Top earners see decline in household income in 2017/18
                                                              • Figure 7: Average annual household income after tax and benefits, by quintile, 2008/09-2017/18
                                                            • Volume and value of HNWIs in the UK declined in 2018
                                                              • Figure 8: Top 10 nations for number of HNWIs*, 2014-18
                                                            • Almost half of high earners are confident about their financial situation
                                                              • Figure 9: Consumer sentiment among high earners for the coming year, January 2018-October 2019
                                                            • Volume of sea cruises projected to grow above holiday market average
                                                              • Figure 10: Forecast volume of UK & Ireland sea cruise holidays (number of trips), 2013-23
                                                            • Long-haul destinations under pressure amid rising demand for shorter breaks
                                                              • Figure 11: Volume of UK overseas holidays by global region, by duration, 2018
                                                          • Companies and Brands – What You Need to Know

                                                            • Leading luxury specialists continue to grow
                                                              • Audley Travel expands European and cruises offering
                                                                • Kenwood Travel introduces online booking system
                                                                  • Airbnb expands into luxury market by offering tailor-made stays
                                                                    • Abercrombie & Kent expands group travel by private jet
                                                                      • Boeing invests in Virgin Galactic to make space travel accessible
                                                                      • Luxury Travel Specialists

                                                                        • Leading luxury specialists continue to grow
                                                                          • Figure 12: Leading luxury holiday specialist operators, by turnover, 2012-18
                                                                        • Kuoni launches new Family Holidays brochure
                                                                          • Audley Travel expands European destinations and cruises offering
                                                                            • Kenwood Travel introduces online booking system for the first time
                                                                              • Airbnb expands into luxury market by offering tailor-made stays
                                                                              • Launch Activity and Innovation

                                                                                • Luxury travel companies are showcasing exclusive experiences
                                                                                  • Kuoni inspires travellers to move away from the crowds
                                                                                    • Abercrombie & Kent expands group travel by private jet
                                                                                      • Space travel will open new doors to luxury travellers
                                                                                        • Boeing invests in Virgin Galactic to make space travel accessible
                                                                                          • New space hotel concept uses artificial gravity
                                                                                            • Getting luxury travellers on board a cruise
                                                                                              • Scenic Eclipse showcases its discovery-themed wine list
                                                                                                • Abercrombie & Kent offers one-time only expedition to Antarctic
                                                                                                  • Working towards a more sustainable travel industry
                                                                                                    • Luxury travel tour operators increase efforts to reduce single-use plastic
                                                                                                      • Airbnb offers purposeful trip “Antarctic Sabbatical”
                                                                                                        • Luxury brands scale down whilst budget brands scale up
                                                                                                          • Emirates unbundles business class tickets on selected routes
                                                                                                            • Airbnb launches Airbnb Luxe; higher-end accommodation with tailored experiences
                                                                                                            • The Consumer – What You Need to Know

                                                                                                              • Volume of Mintel’s luxury traveller segments
                                                                                                                • Luxury holiday types have become more diverse
                                                                                                                  • Exclusivity is the new luxury
                                                                                                                    • Search technology falls behind travellers’ needs
                                                                                                                      • Luxury travellers value travel agents with specialist destination knowledge
                                                                                                                        • Educating travellers is key to making the travel industry greener
                                                                                                                          • Supporting the local economy and staying in eco-friendly accommodation top the list
                                                                                                                          • Defining the Luxury Traveller

                                                                                                                            • Mintel’s approach to defining the luxury traveller
                                                                                                                              • Figure 13: Amount spent on most expensive holiday taken, August 2019
                                                                                                                            • Younger generation keen on shorter trips
                                                                                                                              • Figure 14: Duration of most expensive holiday taken, by age profile, August 2019
                                                                                                                            • More than one-third of holidaymakers have stayed in five-star accommodation
                                                                                                                              • Figure 15: Use of premium/luxury holiday accommodation, August 2019
                                                                                                                            • Volume of Mintel’s luxury traveller segments
                                                                                                                              • Figure 16: Luxury traveller segments, August 2019
                                                                                                                            • Millennials choose experiences over possessions
                                                                                                                              • Figure 17: Luxury traveller segments, by age and household income profile, August 2019
                                                                                                                          • Holiday Types

                                                                                                                            • Luxury holiday types have become more diverse
                                                                                                                              • Figure 18: Types of luxury holiday taken, August 2017 and August 2019
                                                                                                                            • Younger generation driving force behind diverse holiday behaviour
                                                                                                                              • Figure 19: Types of luxury holiday taken, by age, August 2019
                                                                                                                            • Most select luxury target group keen on taking guided touring holidays
                                                                                                                              • Figure 20: Types of luxury holiday taken, by luxury traveller groups, August 2019
                                                                                                                            • High interest in unusual accommodation
                                                                                                                              • Figure 21: Interest in unusual accommodation, by age, August 2019
                                                                                                                          • Meaning of Luxury

                                                                                                                            • Exclusivity is the new luxury
                                                                                                                              • Figure 22: Meanings attached to luxury holidays, August 2017 and August 2019
                                                                                                                              • Figure 23: Meanings attached to luxury holidays, by luxury traveller groups, August 2019
                                                                                                                            • Flexibility to enhance the traveller’s experience
                                                                                                                              • Figure 24: Meanings attached to luxury holidays, August 2019
                                                                                                                            • Opportunities to provide luxury adventure holidays to families
                                                                                                                              • Figure 25: Meanings attached to luxury holidays, by age, August 2019
                                                                                                                          • Online Search Preferences

                                                                                                                            • Search technology falls behind travellers’ needs
                                                                                                                              • Figure 26: Preferred search options on a travel company’s website, August 2019
                                                                                                                            • Motivation and experiences play a crucial role when young travellers search for a luxury holiday
                                                                                                                              • Figure 27: Preferred search options on a travel company’s website, by age, August 2019
                                                                                                                            • Great variety in path to purchase
                                                                                                                              • Figure 28: Holiday selected by respondent in Mintel’s qualitative study, July 2019
                                                                                                                          • Travel Agent Support

                                                                                                                            • Luxury travellers value travel agents with specialist destination knowledge
                                                                                                                              • Figure 29: Attitudes towards paying for travel expert advice and support, August 2019
                                                                                                                            • Travel experts should be all-round
                                                                                                                              • Luxury holidaymakers with children are more open to a travel expert subscription
                                                                                                                                • Figure 30: Attitudes towards a subscription for unlimited access to a personal travel expert, CHAID analysis, August 2019
                                                                                                                            • Travelling and the Environment

                                                                                                                              • Consensus among consumers: travel companies should take actions to protect the environment
                                                                                                                                • The vast majority of luxury travellers want to help to protect the environment
                                                                                                                                    • Figure 31: Attitudes towards minimising impact on the environment whilst travelling, by age, August 2019
                                                                                                                                  • Educating travellers is key to making the travel industry greener
                                                                                                                                    • Transparency is also required to enable travellers to make greener choices when booking
                                                                                                                                        • Figure 32: Attitudes towards ethical labelling, by age, August 2019
                                                                                                                                    • Sustainable Travel Preferences

                                                                                                                                      • Supporting the local economy and staying in eco-friendly accommodation top the list
                                                                                                                                          • Figure 33: Considered sustainable travel options, by luxury traveller groups, August 2019
                                                                                                                                        • Younger generation more likely to take part in eco-friendly and volunteering activities
                                                                                                                                          • Figure 34: Considered sustainable travel options, by age, August 2019
                                                                                                                                      • Appendix – Data Sources, Abbreviations and Supporting Information

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

                                                                                                                                                This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

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                                                                                                                                                • Consumer

                                                                                                                                                  Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

                                                                                                                                                • Brand/Company

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                                                                                                                                                • Data

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                                                                                                                                                Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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