Luxury Travel

You might not have noticed, but luxury hospitality is in the middle of a major reboot. Old, storied reputations mean nothing anymore if today's service is lost. The market is a blank slate where all relationships, preferences, and loyalty need to be re-examined and rebuilt by luxury travelers. Brands have to re-think their value propositions.

Although a growing number of families are eager to travel together, convincing them to shell out big money for seemingly dry experiences is a tall order. So tour operators need to create lively environments for children to make their trips more appealing for the lucrative market.

Many predicted business travelers would cut back on the number of trips they take, opting for longer stays instead. That prophecy's come true, with five-star hotels benefiting most from their higher rates.

Hey, when opportunity knocks, answer the door if you think there is an ample addressable market. That's what Inspirato did as it develops a corporate rewards or incentive program and seeks to broaden its products into flights and adverture travel, as well.

Good morning from Skift. It's Tuesday, March 1, in New York City. Here's what you need to know about the business of travel today.

Less than a year ago, a Tripadvisor pitch deck about Tripadvisor Plus touted its "multibillion dollar revenue potential." Despite the company expressing confidence in Plus when it scrapped its business model in September, Tripadvisor admitted last week "we haven't found the product-market fit that we're looking for."

This deal would break the mold of so many technology plays we've seen to date, giving JP Morgan an edge in supporting bookings with experienced consultants.

Pendry has built an interesting boutique-feeling brand on top of actual luxury knowledge and operations. The result is something differentiated in the market and worth keeping an eye on.

Unlike Airbnb and Vrbo, which have struggled at times to attract ample numbers of hosts to meet demand, Inspirato and its subscription model play in a more focused space. Although there is plenty of competition, there are tons of potential home leases to lay siege for around the world where the monied set want to jet and play.

It won’t be an easy task, but Choice Hotels moving beyond the sectors that gave it durability during the pandemic makes sense for the recovery — if it manages to build the right upscale portfolio.