Skift Take
The luxury segment is having its moment, but it obviously isn't the be-all and end-all. Some 100 million Chinese outbound travelers are making their trip plans, and most of them won't be looking for luxury properties.
Four Seasons Hotels focuses solely on the luxury segment, but CEO J. Allen Smith says it isn't the buildings or other "hardware" that guests crave these days.
"No one has written to me telling me that the floors are great," says Smith, who says his business is performing "exceptionally well."
Instead, guests talk about the "experience," Smith says, and they are looking for "the Instagram moment."
There is so much talk in the hotel industry these days about the high margins of the limited-service sector, and the successful IPOs of Extended Stay America and La Quinta
