The concept of “premium” travel is no longer limited to luxury and five-star hotels. According to a new analysis by ZS and Skift, the growing demand for enhanced travel experiences is being shaped by five distinct types of traveller, who seek value, convenience and personalisation in different ways.
The study notes that “premiumisation” is evolving across an entire ecosystem of services and experiences, as travellers no longer follow a single behavioural pattern. The same traveller may choose a luxury hotel on one trip, economy class on another, or invest in exclusive experiences at their destination.
The five new “personalities” of premium travel
1. The multifaceted parent of the Millennial generation
According to Skift Research, 93% of Millennial parents consider travel to be important for their children. For this group, ‘premium’ does not necessarily mean ‘luxury’, but rather less stress and better organisation.
The ability to choose seats, pre-order meals and entertainment, and organise all the details of a trip is considered more important than even the price.
2. The business traveller
Although business travellers account for just 20% of total travel, they generate up to 60% of airline and hotel revenue.
For them, premium travel is all about time and reliability. Direct flights, quick rebooking in the event of problems, fast Wi-Fi, lounge access and time-saving services are their top priorities.
3. The traveller of experiences and events
The so-called “Live Tourists” travel mainly to attend concerts, sporting events and cultural events.
Research by Skift and Qiddiya City shows that 86% of travellers believe that taking part in cultural, sporting and leisure activities contributes significantly to their happiness, whilst 75% say that these experiences are now more important than they were before the pandemic.
4. The points and perks hunter
“Points Players” are an ever-growing group of travellers who make the most of loyalty programmes, credit cards and special offers to secure upgrades and privileges at the lowest possible cost.
Although they are taking part in more loyalty schemes than ever before, their actual loyalty to specific brands is declining, which presents new challenges for companies in the sector.
5. The wealthy but discreet travellers
The final category concerns the so-called “Rich but Not Famous”. These are high-income travellers who seek comfort, privacy and personalised services, whilst avoiding ostentatious displays of luxury.
According to data from the Wall Street Journal cited in the study, there are currently approximately 430,000 households in the US with assets of more than $30 million, a figure that has risen by more than 40% since 1990.
The new challenge facing the industry
The analysis concludes that it is no longer enough for travel businesses to invest in more expensive products or more luxurious facilities. The real opportunity lies in reducing friction during travel, personalising services and gaining a better understanding of the different needs of each customer category.
As ZS and Skift point out, companies that manage to offer more seamless, flexible and personalised experiences will gain a significant competitive advantage in a market where premium travel is constantly being redefined.
Source: money-tourism.gr