A recent New York Times article exposed two of the toughest challenges facing luxury travelers in the coming year: rising prices and rising demand.
There have been significant price increases for almost every popular destination around the world, most noticeably in the luxury hotel sector. Business travelers and leisure travelers are competing for the limited luxury rooms which now come at an even higher premium rate. Popular business and travel destinations such as India, China (extra increases due to the Olympics), London, Paris and New York City are all seeing prices rise in double digit percentages, somewhere between 15 and 40 percent.
These extreme numbers are mainly due to the supply not being able to meet the demand. Luxury travelers are exploring their world in greater frequency, and doing so in the most luxurious of conditions, which all too often leaves not enough 4- and 5-star hotels to go around. While the major hotel chains all seem to have multiple international projects planned in these new luxury hot-spots, the supply is already so far behind the demand that the luxury hotels currently in these cities are able to charge hugely inflated rates, and maintain very high occupancy levels.
Help, however, is on the way. Many of the planned luxury hotels around the world should be completed within the year. This is especially important in China, where the Olympics are rapidly approaching, and places such as New York City where luxury travelers are expanding past Manhattan to the outlying burroughs for hotel space. But until the extra supply can supplement the growing demand, luxury business travelers and leisure travelers alike will continue to compete for the best hotels at premium prices. But you can’t put a price on happiness, especially when finding it thousands of miles away from home, right?
Source : http://www.perfectescapes.com/
There have been significant price increases for almost every popular destination around the world, most noticeably in the luxury hotel sector. Business travelers and leisure travelers are competing for the limited luxury rooms which now come at an even higher premium rate. Popular business and travel destinations such as India, China (extra increases due to the Olympics), London, Paris and New York City are all seeing prices rise in double digit percentages, somewhere between 15 and 40 percent.
These extreme numbers are mainly due to the supply not being able to meet the demand. Luxury travelers are exploring their world in greater frequency, and doing so in the most luxurious of conditions, which all too often leaves not enough 4- and 5-star hotels to go around. While the major hotel chains all seem to have multiple international projects planned in these new luxury hot-spots, the supply is already so far behind the demand that the luxury hotels currently in these cities are able to charge hugely inflated rates, and maintain very high occupancy levels.
Help, however, is on the way. Many of the planned luxury hotels around the world should be completed within the year. This is especially important in China, where the Olympics are rapidly approaching, and places such as New York City where luxury travelers are expanding past Manhattan to the outlying burroughs for hotel space. But until the extra supply can supplement the growing demand, luxury business travelers and leisure travelers alike will continue to compete for the best hotels at premium prices. But you can’t put a price on happiness, especially when finding it thousands of miles away from home, right?
Source : http://www.perfectescapes.com/
No comments:
Post a Comment