The luxury travel industry will be worth $2.5 trillion by 2025, according to Grand View Research Inc. Economist Kjell Nordström described its transformation from materialistic to experiential as the “fastest business model transformation since the 1850s”1 .
Five-star hotel groups remain a bulwark for global luxury hospitality, from Asia: Taj, The Peninsula, Oberoi, Mandarin Oriental, Shangri-La, The Leela, Aman, Six Senses and Capella; North America: Waldorf Astoria, Marriott, Four Seasons and Rosewood; and the UAE: One&Only, to the UK: Langham, Belmond and Rocco Forte – to name just a few.
Multi-generational holidays, sustainable travel and meaningful experiences are emerging as new trends of the 2020s. Bio-architecture, plastic-free initiatives and carbon neutrality woo eco-minded clients, with Six Senses and One&Only long-standing leaders2 .
Traditionally city-centric brands are trying to offer more experiential, resort-style breaks by flexing their creativity with expeditions and retreats. Four Seasons has , and Ritz-Carlton a Yacht Collection . Clients seeking more space and privacy for family holidays are turning to luxury home rentals: Four Seasons are capitalising by adding another 16 Private Retreats locations by 2025 , and Mandarin Oriental has invested in luxury holiday home firm, Stay One Degree .
