National Report – Separate studies from two distinct sources appear to reach the same conclusion: Millennials are a strong target market for luxury travel.
According to “MMGY Global’s 2014 Portrait of American Travelers,” travelers were asked if they believe that luxury is an integral part of the life they want to live. The following percentages answered “yes.”
Travelers were asked if they agree or disagree with the following statement: “I frequently purchase luxury items on vacation that I would be less likely to purchase at home.” The following percentages answered “agree.”
Meanwhile, a recent Chase Card Servcies survey of more than 1,000 18-to-67-year-olds who stayed in a hotel at least five nights per year shows that Millennials are more likely than older travelers to seek out hotels with luxury services, such as dry cleaning (32 percent), massage or spa services (30 percent) and pet-friendliness (23 percent).
It also indicates that Millennials (48 percent) are more likely to say that indulging in luxury services best describes their attitude toward staying in hotels. In contrast, older travelers (ages 50-67) are more likely to say that keeping within a budget (72 percent) is their priority.