TriBrand Prosperity 2020 Complete - Page 56



$1M to $2M
$2M to $5M
$5M+
Trend
#3 Wellness through
UNIQUE
33%
intentional
travel
is gaining
EXPERIENCES
WHILE
momentum
TRAVELING
Millennials
(23–40)
Gen X
(41–54)
Baby Boomers
(55–73)
Wellness travelers seek out activities centered on emotional
wellness (such as, quiet contemplation), social wellness (for
example, interacting with other travelers),
30% and feelings of
26%
belonging
(like going to a local sporting event).
21%
18%
Luxury homeowners
today are more frequently opting for

Wellness
10%
multiple,
smaller
homes
rather than one large estate. Because
Wellness is a long-standing trend in the travel business, but
Vacationers
convenience,
ease
and
simplicity
are drivers for wealthy
the evolution continues. Major wellness players such as
home
buyers,
we
see
increasing
demand
for “lock and leave”
the flagship
Canyon Ranch resort in Tucson, Arizona, USA,
All Others
Activities centered around
Interacting
with
other
travelers
Going
to
a
local
sporting
event
properties that can be used for short stays and then
easily
recently injected $30 million USD toemotional
improve,
upgrade and
wellness
left
for
months
at
a
time,
without
security
or
maintenance
add guestrooms across the property. The Four Seasons has
smaller
footprint,
detailshigh
often
Luxury homeowners today are more frequently opting
concerns.
While ithigh
may end
be afinishes
smallerand
footprint,
end finishes
created customizable beds to help guests get a good night’s
drive
prices often
muchdrive
higher
per square
foot. Indeed,
the foot.
for multiple, smaller homes rather than one large estate.
and
details
prices
much
higher
per
square
sleep. Rosewood Hotels offers family-friendly options allowing
sharing
haseconomy
firmly arrived
in thearrived
luxuryinsphere,
Because convenience, ease and simplicity are drivers
Indeed,economy
the sharing
has firmly
the luxury
parents and children to learn about health together.
with
Airbnb
Luxe,
Third
Home,
Inspirato,
Exclusive
for wealthy homebuyers, we see increasing demand for
sphere, with Airbnb Luxe, Third Home, Inspirato, Exclusive
The pillars
of wellness
travel go far
beyond
the
spafor
experience
Resorts
to stay
stay in,
in, or
or rent,
rent, a
“lock and
leave” properties
that
can be
used
short
Resorts and
and others
others offering
offering the
the ability
ability to
these stays
days.and
Today
wellness
travel
is
focused
also
on
asignificantly
significantlypriced
pricedproperty.
property.
then easily left for months at a time, healthy
without
eating,security
fitness,or
nature
and activities
that build
maintenance
concerns.
Whileinternal
it may strength,
be a
such as classes, quiet spaces and digital detoxes.
INSIGHT: Just as consumers brought home the ‘spa-like retreat,’ so too will they bring home what they
learn on wellness vacations. This process impacts what they seek in a home: a sacred space where
they can honor their commitment to living their best life. Many wellness-related themes originate with
teachings from Eastern cultures, such as Feng Shui, which may create additional appeal to Western buyers.
Luxury Portfolio International® || 9
56
PROSPERITY 2020

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