• Luxury travel trends affecting the industry


    As the economy slowly begins to recover, travelers are finding themselves with a bit more money than before to spend on luxury trips. The luxury sector took a big hit during the downturn, but analysts are saying that the industry is slowly bouncing back, although not yet to pre-recession levels.

    According to the Huffington Post, a number of trends are affecting the industry. One is value in luxury accommodations. While luxury travelers still spend more than average vacationers, they are not spending as much as they used to.

    It's a trend that New York City's Helmsley Park Lane general manager Takis Anoussis has seen firsthand, telling the news source that "people will pay $800 or $1000 for a lovely suite but not $5000 as they might have in the past."

    Another difference is the experiences that travelers are looking for. Luxury vacationers see value in experiences that will be especially memorable. So families are taking trips that amount to more like family reunions, and are trying to see famous cultural landmarks and sites rather than typical beaches. In addition, the market has also seen an increase in one-of-a-kind trips, like the Super Bowl, swimming with dolphins, or sleeping in extravagant African tree houses, according to the news source.

    See also ...  

Call us at 1.800.826.4919

Non insurance services are provided by Travel Guard. 
This plan provides insurance coverage that only applies during the covered trip.
You may have coverage from other sources that provides you with similar benefits but may be subject to different restrictions depending upon your other coverages. You may wish to compare the terms of this policy with your existing life, health, home, and automobile insurance policies. If you have any questions about your current coverage, call your insurer or insurance agent or broker. Coverage is offered by Travel Guard Group, Inc (Travel Guard). California lic. no.0B93606, 3300 Business Park Drive, Stevens Point, WI 54482, www.travelguard.com. CA DOI toll free number: 800-927-HELP. This is only a brief description of the coverage(s) available. The Policy will contain reductions, limitations, exclusions and termination provisions. Insurance underwritten by National Union Fire Insurance Company of Pittsburgh, Pa., a Pennsylvania insurance company, with its principal place of business at 175 Water Street, 15th Floor, New York, NY 10038. It is currently authorized to transact business in all states and the District of Columbia. NAIC No. 19445. Coverage may not be available in all states. Your travel retailer may not be licensed to sell insurance, and cannot answer technical questions about the benefits, exclusions, and conditions of this insurance and cannot evaluate the adequacy of your existing insurance. The purchase of travel insurance is not required in order to purchase any other product or service from the Travel Retailer.