Virtuoso shares the stats on soaring luxury travel demand

Virtuoso shares the stats on soaring luxury travel demand
Edited by Travel Weekly


    Virtuoso is hosting its 2023 Symposium this week in Montréal, Québec.

    During the event’s general session, Virtuoso executive vice president David Kolner presented proprietary data and industry insights before an audience of the industry’s top professionals from 35 countries.

    As a sign of travel’s continued rebound, Kolner shared that Virtuoso bookings for 2023 are 91 per cent higher than they were in 2019 leading into 2020, and 62 percent higher than 2022. With Tourism Economics not predicting global travel and tourism recovery until the second quarter of 2024, Virtuoso sales indicate the demand for luxury experiences is leading the way forward. Booking windows have also tightened up to 64 days in advance, as opposed to 85 days in 2019 and 109 days at the beginning of 2021.

    According to Virtuoso sales data, the network’s preferred hotels are experiencing extremely high demand, with bookings 193 per cent higher than in 2019 and 77 per cent over 2022. Hotel average daily rates (ADRs) continue to soar, as summer 2023 rates average nearly (US) $1,700 per night, 16 percent higher than in 2022 and 69 percent more than in 2019.

    Domestic ADR growth for U.S. travellers is slowing slightly in 2023, up only six percent on average from the same months in 2022; however, ADRs for 2023 summer travel (June through August) are pacing 12-25 percent ahead of 2022.

    Cruising is also looking very strong, with total Virtuoso bookings up 55 per cent compared to 2019. By sector, however, mass market cruising sits at 30 per cent higher, while premium is up 61 percent, luxury is up 79 per cent, expedition is 83 per cent higher and river cruising is up a whopping 128 percent.

    Another source of optimism for Virtuoso and its network: data from the Credit Suisse Global Wealth Report showed Virtuoso’s target market of high-value travellers – HNW and UHNW individuals – is expected to grow by 34 percent, exceeding 62 million worldwide over the next five years.

    Booking analysis is based on transactional data sourced from Virtuoso’s travel agency members.

    Latest News

    • Destinations
    • News

    APT Launches 2025 Asia Adventures

    APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

    • Cruise
    • Luxury
    • News

    Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

    Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

    • Luxury

    Malolo Island Resort opens brand new Spa

    Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]