Skift Take
Customization, wellness, and technology are must-haves for any luxury hotel brand that wants to remain relevant — regardless of the age of their customers.
Smart hoteliers know they can't afford to ignore the next generation of luxury travelers. Why? Because they are an economic force to be reckoned with.
Millennials, or those born between 1981 to 1997, already surpassed baby boomers as the largest generation in the U.S. two years ago. And globally, millennials number about 2 billion, making up roughly 27 percent of the world's population. That's not counting Generation Z, those born beginning in 1998, who are expected to eclipse millennials in size, according to Goldman Sachs Global Investment Research.
"Luxury hotels need to embrace the younger generation — and the older generation of travelers," said Pat King, CEO of the Doyle Collection. "That's a non-negotiable."
But figuring out how to appeal and connect to the next generations of luxury travelers, without alienating older travelers, is easier said than done. Do you use social media? Or interesting dining experiences? What about wellness? Or technology?
Hoteliers' methods, as we found out when we spoke to them at the recent International Luxury Travel Market in Cannes, are varied and multi-faceted.
Understanding the Next Generation's Spending Power
Just how valuable is the next generation of luxury travelers to hotel companies?
"I think we've underestimated the millennial generation's power in luxury," said Jenni Be
