UK Luxury Travel market report
Everything you need to make the right decisions
Providing the most comprehensive and up-to-date information and analysis of the Luxury Travel market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Covered in this report
There is no industry-wide agreement on the definition of the luxury holidaymaker. Mintel has therefore approached the luxury travel segment from a number of different angles and created three luxury segments, based on the findings of our exclusive consumer research:
- £1,000+ per head for a break of 1-6 nights or
- £1,500+ per head for a holiday of 7-13 nights or
- £3,000+ per head for 14+ nights in the past five years.
This group represents an estimated 16% of all UK holidaymakers.
Five-star big-ticket spenders
- Big-ticket spenders (as defined above)
- who have also stayed in five-star or above accommodation in the past five years, since this is likely to be seen by most specialist brands as a core element of luxury travel.
This group represents an estimated 8% of all UK holidaymakers.
All luxury travellers
- Fall into the above spending groups
- or who have stayed in five-star or above accommodation
- or spent £250+ per hotel night in the past five years
This group represents an estimated 42% of all UK holidaymakers.
What you need to know
The majority of luxury travel specialists have continued to post strong financial results, buoyed by sustained demand for luxurious holidays from high earners. However, with the economy expected to grow at a modest pace given uncertainties around Brexit, travelling overseas is becoming more expensive. This will boost interest in destinations that offer more value for money, even among an audience that is less sensitive to economic pressures.
There is increasing competition in the luxury travel market, as both new and existing brands enter the high-value market. Airbnb’s luxury properties, and luxury (expedition) cruises have high growth potential. For luxury travel brands it becomes even more important to understand customer behaviour and to claim their position within the market.
Flexibility, personal advice and good deals are must-haves in the luxury segment. Luxury travellers are also eager to learn whilst on holidays. Unique and enriching experiences that encourage holidaymakers to learn about themselves or a different culture are now crucial elements of a luxury holiday.
Expert analysis from a specialist in the field
Written by Marloes De Vries, a leading analyst in the Travel Analyst sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
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
What you get
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.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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