Yes, Consumers Are Traveling Again To All Corners Of The Globe

Spring and summertime bring renewal, and with that an enhanced optimism from valued travel advisors eyeing the state of the luxury industry. In talking with my trusted friends in the travel advisor community, I am pleased to report there is good news, which many of you already know since your phones have resumed ringing – people are indeed traveling again! But, where are they going and why? And, with a rich global tapestry of cultures out there, what motivates advisors to sell certain destinations to clients? I queried a group of 50 well-known travel advisors (at the owner/manager level) around the country and am privileged to share their insight with you.

I was fortunate to have been asked to write a column for the U.K.'s Profile LEADER: Essential Reading for Hospitality Management on the subject of "New Imperatives in Luxury Marketing." I addressed how effective marketing adapts to the mindset of today's luxury travelers and the many ways they can be engaged. I hope you enjoy reading this column. Do please share your thoughts with me. http://www.pmsr.com/leader/april11/peter-bates.asp

2010 - 'A Year in Review' - Market Rebound, Growth, Opportunity & 'Editors of Travel'

For those of us whose lifeblood is in the luxury travel business, I’m sure you’ll join me in celebrating the rebound that is penetrating the market. I’m confident that 2010 is closing more positively than it began, and as we move forth in 2011, we must stay on a path of resurgence with verve and enthusiasm.

So, with the New Year on the horizon, I wanted to take this opportunity to share with you some of my thoughts, culled from my travels and discussions with tourism and hospitality professionals as well as those in the agent community.

1) As we know, luxury travel is rebounding – and with the economic recovery, the luxury travel market is becoming more experiential. When consumers spend money on a customized holiday, they want it to be more meaningful then ever before. That means delving deeper into a culture, a lifestyle, a true experience (such as art, spa/wellness, adventure and the like) so that a memorable travel journey with a ‘wow’ factor can be crafted for a customer.

2) The outlook for growth of business travel is positive as we move into 2011 and 2012 – but of course they’ll be challenges for corporate travel managers who’ll be faced with handling the dichotomy between rising air and hotel costs and the need to manage budgets, re-examine cost-control tactics, and increase business efficiencies. Companies are still tightening their purse strings on the corporate side, which makes leisure travel even more vital to the mix.

Life as a 'road warrior' isn't easy - I spend approximately two weeks a month traveling for business. Here's a great story in the October 2010 issue of Executive Travel magazine about tips for coping with this lifestyle from some very frequent hotel guests - myself included!

http://www.executivetravelmagazine.com/page/Tips+for+coping+from+very+frequent+hotel+guests

Let me know what you think.

Traveling The World's Best Events

We all know the downside to frequent global travel but fortunately, many of my journeys take me to world-class events that afford exceptional experiences and the opportunity to liaise with fascinating individuals. The past few months I attended three such events – the World Travel & Tourism Council’s Global Summit in Beijing, the Food & Wine Classic in Aspen, and the Shanghai Expo – all which greatly impressed me so I wanted to share my thoughts with you.

WTTC’s Global Travel & Tourism Summit
Attending the World Travel & Tourism Council’s 10th Global Summit in Beijing this past May was an experience like no other. I was honored to have been invited to participate along with such an elite and masterful group of high-level travel and tourism professionals. I was inspired by the enthusiasm and insights of speakers from Accor, Mandarin Oriental, Abercrombie & Kent, Expedia, American Express, Marriott International and Goldman Sachs. Echoing the sentiments of such great speakers, I firmly agree that the travel and tourism industry has the potential of being the engine to fuel global economic recovery. The 2011 WTTC Global Travel & Tourism Summit will take place in Las Vegas May 15 – 19. Visit www.wttc.org or www.globaltraveltourism.com to learn more about the organization’s initiatives.

A Road Warrior’s Dream – Beds, Business Centers and the Internet

Being in the global hospitality and tourism business means I travel a lot – approximately two weeks every month! I consider myself a road warrior because of all the time I spend away from home – most of my travel brings me to Asia and India, although I also find myself traveling around the U.S. and Europe.

Through my 30-plus years in the luxury travel and hotel industry, I’ve been fortunate enough to develop contacts with general managers and marketing executive who help make my hotel stays as seamless as possible, and for that I’m most appreciative. By virtue of being outside the comfort of my home so frequently, you can imagine how much importance I impress upon the hotel I stay at.

Planning for the Rest of 2010

According to conversations I’ve had with my friends in the travel agent community, 2010 is shaping up to be a much better year than 2009, but many challenges still lie ahead as agencies look to climb the ladder of profitability. Doing better than last year is a huge plus, but the barometer you should measure yourself against is that of more profitable years from the recent past. We must keep reality in check.

Now that the first quarter of 2010 is over, I’ve outlined out what I perceive to be the five biggest challenges that remain for the year with some suggestions on how best to address them.

Challenge 1: Maintaining and Growing Your Client Base
Winning new clients and retaining current ones must remain a top priority. We all know very well that a healthy customer base is the foundation of a healthy business.

Stay connected via phone, e-mail and/or social media with your valued clients. Maintain ‘top of mind’ presence by keeping the lines of communication open. Impress your clients with how well you know them by presenting vacation suggestions sure to fit their individual tastes and preferences.

Encourage ‘word of mouth’ praise because the payoff to you is invaluable. Consider incentivizing your current clients to bring you new potential customers. That investment (in terms of an upgrade or special extra to enhance the luxury vacation experience) can yield huge rewards for you and your business.

Tap into local community events to build awareness of your depth of knowledge and the customized travel experiences you can deftly craft.