Luxury travel market

[aaron]

What do people think about the luxury end of the travel market currently?

This forum is one of the quieter ones, but this is a sector of tourism that is really flourishing.

Berlin, for example, has a wave of five-star hotel developments (despite the city's government having record debts of more than EUR 50 billion, I might add!). There the Ritz Carlton Hotel at the Beisheim Centre opened recently. It has an 11th floor "presidential suite" that costs EUR 5,000 a night. Don't worry... that does include breakfast!

Is luxury travel the one sector that is really going from strength to strength, and is this set to continue do you think?

Aaron
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[Woodman]

I doubt that people with enough money to afford "Luxury" travel would be receptive to the idea of net surfing in order to find a satisfactory destination. They've got better things t do with their time and can afford to pay a travel agent to do it for them.

Why don't you try a "Luxury-on-a-budget" forum for us little people?

...'cause if if I had the same money that come rich people have, I'ld BURN mine. : -)

[travelnotes]

I do a lot of Luxury on a Budget by staying at cheaper places and then visiting the luxury hotels to spend some time in them.

Just last week we were in Bled and popped into the Grand Hotel Toplice for a coffee and magnificent views of the lake and Slovenia's only island.
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[aaron]

[aaron]

To follow that statement up, I've just become aware of a book called "The Penny Pincher's Passport to Luxury Travel" (Travelers' Tales, $14.95). Have a look at this USA Today article for a few tips on how you might take advantage of luxury travel without the cost.

Aaron
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[judy]

We use our frequent flyer points to upgrade our economy flights to business and that saves us over £2000.

[murfee88]

For those people who want to take advantage of the luxury life at an affordable price I would recommend www.luxurylinks.com. I've bagged a 4 night stay at a 5 star hotel in Prague for virtually the same cost as a 3 star hotel in Barcelona. Plus you get other perks in the price. You can either bid on packages or tailor make your own package, well worth a visit.
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[luxurynz]

Yes, luxurylinks is a good source for luxury at a bargain.

And, from the NZ-perspective, online booking agencies such as Precision Reservations are now handiing more and more top-end properties, at cut-price rates.
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[DanT]

If anyone is still looking to book luxury and make savings, then even in these turbulent times it is quite possible. many owners of expensive hotels and villas are aware of the economic problems many of us face and are subsequently reducing...from what I see in the market place, there are savings to be had, or as some eloquent hoteliers write 'positional sales changes'...!
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[seacoastguide]

With the US dollar buying approximately 1.23 Canadian dollars today, luxury travel to Canada has become very affordable. We are seeing reservations at our Nova Scotia luxury innDesBarres Manor up to start 2009 as the exchange rate provides a significant discount to travellers using US currency.

[shubhra]

I think that inspite of current unfavorable economy phase and expected after effects, the business streams associated with luxury travels will flourish like before. People, who really afford luxuries hardly get affected with the temporary economy trends.

<link removed - please read our board rules... Aaron>
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[OasisNick]

My company have found no drop off in the luxury end of the market. In fact we have found the opposite; the luxury market is gowning where the mid/upper range is slowing.

That could be due to the fact we operate to Asia and sell to the Aussie market and Aussies are travelling more to Asia (rather than to the traditionally more expensive regions such as Europe and the US).

People with money will travel - just maybe not as far - and will always look for great value, so even in an economic downturn certain areas of the luxury travel will still be buoyant in specific target markets.
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[tmmtravel]

I've noticed a drop off in both luxury travel and economic travel. I've had many people ask "is that the best deal you can make". There seem to be some last minute travelers but to contradict myself there are those who are making reservations into the next year. The villas have all seen a decrease and it's affecting the homeowners and they're dropping rates. I've also had people tell me that they're not going to Hawaii because it's too expensive and instead coming to the country I represent because of the value.

[Besalu2008]

We have had a very quiet last few months but bookings are starting to pick up a bit now. It seems people have been waiting a bit longer this year before booking their holidays, possibly waiting to see how the economic climate pans out or waiting for better deals.

Many of our owners are now getting desperate and offering huge reductions. The owner of one of the castles we list is now looking for a long term rental and is offering a month for the same price as he was charging for a week one year ago!

Although in the current econonic climate people still do have money to spend. we have made a booking at one of our villas (costs around 8,000 euros for 1 week) where the guests have ordered a chef for their two week stay. With every eveing meal they have at the house they want professional musicians playing in the background! Also a room for their chauffeur, live in nanny, guided wine tours etc.....
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[MustaphasPlace]

I think people are going to be waiting for a while to see clear patterns emerging. Consumers are confused about the economic crisis and reacting in a variety of ways, not always rationally. It remains to be seen whether holidays will be one of the sacrifices that the majority of people make or if the escapism of an exotic holiday becomes one of the main things people pursue doggedly because it gets them out of a depressing domestic environment.

Here in Zanzibar, our Xmas/New Year high season was probably somewhat shorter/quieter than usual, but that has actually been offset by a busier early low season. I'm referring not just to our hotel but across the broad sweep of hotels across the East side of the island.

I just don't think it is going to be clear for at least another year what the fallout of the credit crunch is going to be on the luxury market or indeed the luxury-on-a-budget market.
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