Travel

Millennials’ Secret Luxury Travel Splurge: Boomer’s Nightmare

Gray hair and old-school luxury are out as millennials dominate the high-end travel scene. According to Bain & Company, millennials officially outspent boomers last year and are on track to represent 80 percent of luxury purchases by 2030. This seismic shift has left the global travel industry scrambling to revamp their properties and cater to the tastes of the newly middle-aged.

The transformation has been underway for nearly a decade, but the pandemic has accelerated the process. Hotels like Hilton have been quick to adapt, introducing brands such as LXR Hotels & Resorts that cater specifically to millennial travelers. Dino Michael, Hilton’s senior vice president, believes that authenticity and immersive experiences are key to attracting millennials. Surprisingly, many millennials are also gravitating towards Hilton’s classic luxury hotels, such as the Waldorf Astoria and Conrad.

Luxury resorts and hotels across the world are following suit. Balboa Bay Resort in Newport Beach has created unique experiences like a holiday-themed speakeasy and a six-course tasting menu paired with local craft brews, directly responding to millennial demands. Rosewood has opened a remote speakeasy accessible only by boat, catering to the millennial desire for exclusivity and unforgettable experiences.

Not just hotels, tour operators and luxury travel companies are also seeing a surge in millennial clientele. Red Savannah and Black Tomato report increased bookings from millennials for curated itineraries and adventure travel. Millennials, often working in tech, entertainment, and sports industries, are replacing the traditional boomer big spenders at ÀNI Private Resorts, preferring the all-inclusive offerings and relaxed environments.

The shift in millennial spending habits can be attributed to their value of experiences over material possessions. Delaying milestones like marriage and homeownership has allowed them to have more disposable income for luxury travel. Additionally, their flexible work schedules and entrepreneurial spirit make them year-round guests at hotels and resorts.

With millennials reshaping the luxury travel industry, traditional establishments are embracing change to stay relevant. The era of boomer luxury is coming to an end as the millennial-driven demand for unique experiences, authenticity, and adventure takes center stage.

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