Where Luxury Is Going Next PDF

WHERE
LUXURY IS
GOING NEXT
Presented by
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Where Luxury is Going Next SKIFT REPORT 2018 2
TABLE OF CONTENTS
Executive Letter 5
Introduction: Where Luxury is Going Next 6
New Destinations on the Radar 8
Asia-Pacific Rises Above the Rest 8
The Middle East Sees Growing Demand 10
Africa’s Strengthening Potential 11
Finding Room to Build in Europe 12
Fresh Approaches to Mature Markets 14
The Great Wealth of China’s Outbound Travelers 15
What Do Chinese Luxury Travelers Expect from their Hotel Experience? 18
How to Reach the Chinese Luxury Traveler 20
How Mixing in Residential Helps Spur Luxury Hospitality Growth 21
The Correlation Between High-End Travel and Branded Residential Purchases 23
GM Roundtable: Talking Luxury With Five-Star Hotel General Managers 24
CEO Interview: Chris Cahill of AccorHotels Luxury Brands on What’s Next for 29
Luxury Hospitality
Conclusion 32
Like What You See? 33
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PRECIOUS
MOMENTS TO LIVE
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© Kittipong Chaimaneewong.
ABOUT US
AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique
experiences in more than 4,300 hotels, resorts, and residences, as well as in over 10,000 of the
finest private homes around the globe. Its portfolio comprises internationally acclaimed luxury and
upper upscale brands including Raffles, Orient Express, Fairmont, SO/, Sofitel, onefinestay, MGallery,
Pullman, Swissôtel, Rixos, and Grand Mercure as well as popular midscale and economy brands.
With an unmatched collection of brands and rich history spanning close to five decades,
AccorHotels, along with its global team of more than 250,000 dedicated women and men, has a
purposeful and heartfelt mission: to make every guest Feel Welcome. Guests also enjoy access
to one of the world’s most rewarding hotel loyalty programs - Le Club AccorHotels. For more
information and reservations visit accorhotels.group or accorhotels.com.
EXECUTIVE LETTER
Let us transform you.
There was a time, when luxury travel was exclusively defined by fine furnishings, discreet service, and
above all, glamour and sophistication. A handful of hotels were at the vanguard of this early era, such
as the newly restored Raffles Europejski Warsaw (1857), Raffles Singapore (1887), and in London, The
Savoy, A Fairmont Managed Hotel (1889). Stateside, Fairmont San Francisco (1907) was a beacon of
luxury on the west coast, while The Plaza, A Fairmont Managed Hotel (1907) anchored the eastern
seaboard.
Fast forward to today and the connotation of luxury has new meaning. From our vantage point,
luxury travel has evolved from a rare and privileged experience of opulence to a ubiquitous, yet multi-
faceted expectation. The provision of glamorous surroundings and bespoke service continues to set
the standard for affluent guests worldwide. Yet, luxury today extends to a deeper desire for personal
recognition, meaningful experiences, and seamless connectivity.
As we look ahead, our challenge as hospitality providers is to meet the ever-changing desires of
affluent travelers as they seek out personal transformation through their travel experiences, look to be
freshly inspired along their journey, and ultimately, to depart with a greater sense of well-being than
when they arrived.
Authenticity is essential to global voyagers. Consequently,

the luxury brands of AccorHotels strive to be authentic and
congruent in the transformational opportunities each provides.
As we head into the next phase of our industry’s lifecycle, our
goal is to create meaningful connections among our guests, our
hotel employees, our brands, and the destinations they have
elected to visit.
Throughout this report, we will explore the many ways we seek

to achieve this, through thoughtful, bespoke care and travel
experiences that excite, enlighten, and inspire global discovery.
Chris Cahill, CEO,

Luxury Brands,
AccorHotels
INTRODUCTION: WHERE LUXURY IS GOING NEXT
Photo: Sofitel SO Singapore
Luxury travel is growing by leaps and bounds. As more people around the world enter into
the aspirational middle class demographic, and as the number of high-net-worth individuals
continues to grow, there is increasing demand for new tourism products, in terms of destinations,
flights, and hotel rooms.
Over the next 10 years, the growth rate of outbound luxury trips is projected at 6.2 percent, almost
one-third greater than overall travel (4.8 percent), according to the Amadeus research report,
Shaping the Future of Luxury Travel. Luxury long-haul travel will grow faster than any other form
of travel, according to the report. A recent report from Transparency Market Research found that
the global luxury hotels market will continue to expand at a compound annual growth rate of 4
percent through 2021.
Given the growing and lucrative nature of the high-end market, it’s no wonder that hotel development
teams are scouring the planet for the next “it” place. In determining which destinations have luxury
legs, there are several key indicators that both developers and investors should consider. After location,
location, and location, it’s about infrastructure, innovation, and airlift.
Indeed, as Gaurav Bhushan, global chief development officer for AccorHotels explained, “If you can’t
bring people in and give them the basics, you can’t have a destination.”
For emerging countries or regions, the infrastructure can be as basic as roads and runways. For mature
destinations, the addition of demand generators like art museums, innovation districts, convention
centers, or high-end shopping districts may be the driver of new luxury.
As Patrick Basset, chief operating officer for AccorHotels in Thailand, Vietnam, South Korea, Cambodia,
Laos, Myanmar, and the Philippines noted, “You first need connectivity. Once airlines discover a
destination, this will open it up to visitors –– without that connection, a destination cannot really
flourish. The arrival of global hotels can help to cement the emergence of a destination by providing
new tourism infrastructure (accommodation, bars, restaurants, retail outlets), but the destination also
must have appeal to visitors, so a strong culinary heritage, history, culture, scenery, and architecture
are essential.”
When we ponder where luxury is going, we’re speaking both in literal and figurative terms. This report
looks at how destinations become the next big thing in luxury travel, how the market has changed
during the past ten years, how China’s luxury market is impacting the sector, and how the hospitality
industry is keeping up with changing expectations. The report will also examine luxury in terms of the
evolving high-end customer and provide insights from industry leaders about the key indicators that
determine where luxury is going next.
Photo: Pullman Bangkok King Power, Thailand

NEW DESTINATIONS ON THE RADAR
Photo: Raffles Hainan
New luxury destinations are popping up throughout the globe. In some countries, luxury is a new
phenomenon. On the other hand, in mature markets, developers are looking to plant their flags in
less established urban areas, whether they be offbeat neighborhoods in major metropolitan areas or
secondary cities that are growing as businesses and millennials look to establish themselves in more
affordable areas. Here’s a tour of up-and-coming luxury landing places around the world.
Asia-Pacific Rises Above the Rest
While luxury development is taking place on every continent (except, thankfully, on Antarctica), there is
no doubt that the focus is on Asia. “When you look at it geographically, undoubtedly, the greatest luxury
investment worldwide, in terms of volume and scale, is taking place in Asia and the Middle East (classified
as Western Asia by the Pacific Asia Travel Association).” Over 80 percent of all luxury development is
taking place in these areas, according to Bhushan.
The growth in the Chinese tourism market is largely leading the demand (see more on page 15).
Additionally, Chinese investment is driving luxury development throughout Southeast Asia and Australia,
and domestic investment in luxury has resulted in a more high-end product.
There’s a particular focus on Hainan, an island

province often dubbed “the Hawaii of China.”
Sanya, which is located on the southern tip of When you look at it
the island, is the preferred domestic destination
geographically, undoubtedly,
for established Chinese high-net-worth
the greatest luxury investment
travelers. According to China Daily, there are
134 five-star properties on the island with more
worldwide, in terms of volume
to come. The five-star Raffles Hainan, which and scale, is taking place in
debuted in 2013, ushered in this luxury wave on Asia and the Middle East.
the South China Sea. Development continues
to thrive. The 477-room Sofitel Sanya Leeman
Resort arrived on the Haitang Bay coast in
early 2016, and Rosewood Sanya opened in the
second half of 2017. A new Atlantis resort opened in April 2018 (development cost: more than $1.5 billion)
and a property from Singapore-based Capella Hotel Group is set to open later this year.
With the aim of attracting more international luxury travelers, the Chinese government started a 30-
day visa-free entry in May 2018. The policy will apply to visitors from 59 countries, including the United
States and Canada. The new visa policy follows President Xi Jinping‘s vow to make Hainan a pilot zone for
reform, and its success may impact development in other high-potential regions in the country.
According to Basset, Myanmar is another location to watch. “We were the first major hotel group to re-
enter Myanmar several years ago, and we now have a network of eight hotels there. We just opened our
very first Sofitel property on the shores of the famous Inle Lake this past March, and have at least three
more luxury and upscale hotels in our pipeline.” Basset added, “Thailand continues to lead the way in
terms of luxury hotel development and we are also seeing increased demand for Vietnam.”
Photo: Nay Pyi Taw, Myanmar

The Middle East Sees Growing Demand
For those with their eyes on

the prize, attention should
turn to Saudi Arabia.
The Middle East is another hotbed for investment.

Airlift to and from the region is growing exponentially,
resulting in the need for more hotel product. Oman
and Jordan (particularly in the Red Sea resort of Aqaba)
have been adding new high-end product during the
past year, and Dubai, of course, is a focal point for
six-star luxury. “But for those with their eyes on the
prize, attention should turn to Saudi Arabia,” said
Francois Baudin, AccorHotel’s senior vice president of
development for Europe, Middle East, and Africa.
At present, the overwhelming majority of the country’s

international tourism comes from religious pilgrims.
But now, as part of the government’s Vision 2030
plan, which is designed to wean the economy from its
dependence on oil, the Red Sea coastline and nearby
islands will be transformed into luxury destinations.
The Red Sea Project in Saudi Arabia will likely be a

game-changer. As Baudin explained, “The Crown
Prince is backing the project, which covers 200
kilometers of coastline and 50 islands. It’s a Maldives
kind of project.” Although Saudi Arabia is notoriously
difficult for tourists to visit, the plan is to create a
“semi-autonomous destination that will stand on
its own, with its own legislation and rules.” In other
words, visa restrictions may be eased for the area, and
allowances may be made to cultural norms to create a
more visitor-friendly environment. Groundbreaking is
slated for 2019. The first part of the project, according
to official government reports, is development of
logistical infrastructure, including air and sea transport Photo: Fairmont Makkah Clock Royal Tower, Saudi Arabia
hubs, along with the development of hotels and luxury
residential units.
Africa’s Strengthening Potential
According to Bhushan, “Africa has enormous potential, but today, it’s more of a market for budget and
mid-market hotels. Right now, there’s more of a focus on infrastructure building.”
That said, there are pockets where luxury is going strong. Recently, there’s been a lot of buzz about
Rwanda. Rwanda broke ground on a new international airport last year, and the government is seeking
permission for direct air service between Kigali and New York City. As Baudin explained, “Airlift is what
primes a destination. So, when there’s a big involvement of local authorities to get airlift, you know they’re
serious about attracting visitors.”
Tourism grossed $400 million for Rwanda in 2016, and the government’s focus on luxury tourism (the
cost of a permit to see the mountain gorillas is the highest in the region) is expected not only to yield
increasing income, but also increasing interest in luxury development.
According to John Round-Turner, regional sales and marketing director for luxury travel company
Abercrombie & Kent East and Southern Africa, the company opened a Rwanda office, based in Kigali,
earlier this year. “Demand for Rwanda experiences has been increasing over a number of years –– not
just gorilla tracking, but exploring places like Akagera National Park, Lake Kivu, and Nyungwe Forest.”
Moreover, Round-Turner noted that luxury resort company One & Only is developing two resorts in the
country. Other high-end lodges are opening as well, both in the countryside and the capital.
Photo: Kigali, Rwanda

Finding Room to Build in Europe
While many of the developing markets in Asia and

Africa are new to the luxury game, Europe, of course,
is a more established presence. That said, developers
Destinations that are a two
are looking for new destinations that can, in part,
or three-hour trip from
serve as alternatives to those locations suffering from
overtourism, such as Barcelona and Dubrovnik.
air hubs like Dubai allow
potential for both business
Lisbon and Cascais in Portugal are becoming new travel and quick weekend
luxury alternatives to Barcelona, while visitors getaways.
interested in the Balkans are paying new attention to
Montenegro. Maja Gudelj, Balkans specialist at luxury
travel agency Olive Trees Escapes, said, “The presence
of the Aman property (in Sveti Stefan) has definitely
brought in people who otherwise would not come. And with the addition of Porto Montenegro in Tivat,
which is both a luxury hotel and a luxury marina, people with yachts are flocking there.”
According to Baudin, luxury brands are looking for new European destinations that are easy for high-end
visitors to access by air. “We look at the accessibility,” said Baudin. “Destinations that are a two or three-
hour trip from air hubs like Dubai allow potential for both business travel and quick weekend getaways.”
Photo: Mykonos, Greece

Hence, a new look at the Greek island of Mykonos. “Greece is coming back big-time,” explained Baudin.
“The slowdown in Turkey has moved market share to Greece.” And while Mykonos has always been a
popular destination, “today, you can see an enormous shift to luxury. Retailers in the high-end luxury
space are moving in” and there is an increasing focus on local design and art. Several boutique properties
have opened on the island recently, as have DJ-driven mega-clubs and bars. “Mykonos is becoming a
destination for a newer generation coming from the Middle East. (The demand is) driving remarkable
prices for hotel rooms and food and beverage.”
Just as Greece benefits from its location, which makes it an easy flight from many European and Middle
Eastern hubs, Baudin says Baku, Azerbaijan benefits from similar geographical fortunes. Plus, the country
keeps adding new reasons for high-end visitors to come. It has recently focused on hosting Formula
1 races and other international events, and has created high-end shopping options (Baku even has a
shopping festival). In addition to the growing range of events and attractions, “the fact that the country
has eased visa requirements is another big plus for potential growth in the high-end business and leisure
markets,” Baudin said. Many of the world’s luxury hotel brands are already on board. Fairmont Hotels &
Resorts, along with brands like Four Seasons, Jumeirah, Hyatt Regency, and JW Marriott have all set up
shop in Baku.
Photo: Fairmont Baku, Flame Towers

Fresh Approaches to Mature Markets
In the mature markets of Europe and North America, finding space for new luxury can be challenging.
Established markets often need to add new demand generators in order to develop renewed luxury street
cred, be they art museums, entertainment venues, or convention centers.
For example, in Sydney, Australia, luxury development had been at a standstill for nearly two decades. A
spate of luxury hotels opened prior to the 2000 Olympic Games, but the market had been dormant ever
since. However, the opening of the city’s International Convention Centre (ICC) in late 2016 has spurred all
sorts of luxury hotel projects. Sofitel Darling Harbour, right across from the ICC, was the first luxury hotel
to open in the city this century. A W Hotel is set to open in 2019, followed by a Ritz-Carlton at the end of
2020. According to Greg Brady, general manager of the Sofitel Darling Harbour, “To be successful, and to
compete for international convention business, Sydney has to have the rooms to support the ICC.”
Another option in mature markets is to build in second-tier cities. In these cases, where luxury demand
exists, but is limited, the hotel that is first to market may win all the chips. For example, in Adelaide, South
Australia, “the infrastructure goings-on have been very strong in the past few years,” according to Angela
Cowley, director of communications for AccorHotels Pacific. “New sports stadiums and entertainment
venues, plus a new innovation district, are infrastructure projects that have allowed developers to look at
this smaller city with a new perspective.” As a result, Sofitel will open the city’s first internationally-branded
luxury hotel in 2020.
Secondary destinations may also be looked at afresh as travel tastes change. According to Baudin, “You
have to try to understand destinations that have unique selling points offering customers what they are
looking for now.” For example, a growing interest in art and architecture among luxury travelers was part
of the appeal in bringing the Raffles brand to Warsaw, Poland. The property, which opened in June 2018, is
a reimagination of the iconic Europejski, a palace hotel dating back 160 years. Raffles Europejski Warsaw
is smack dab in the middle of the city’s Royal Route and pays tribute to the nation’s artistic renaissance
through contemporary works from 120 Polish artists. Given its prime location, its architectural significance
and commitment to the arts scene, and the fact that it is alone at the very top end of the market, Baudin
has little doubt that the hotel will be a big draw for Warsaw.
Photo: Sofitel Sydney Darling Harbour

THE GREAT WEALTH OF CHINA’S

OUTBOUND TRAVELERS
The growth of China’s outbound tourism industry
has caught the attention of travel industry leaders
far and wide, and those in the luxury sector are
certainly no exception. China is the largest source
market for international travel, according to the
United Nations World Tourism Organization (UNWTO).
In 2017, Chinese travelers spent $258 billion in
international tourism expenditures, up 5 percent
from 2016. According to the China National Tourism
Administration, Chinese tourists traveled overseas on
131 million occasions in 2017, an increase of 7 percent
from the previous year.
According to John Koldowski, special advisor to the

CEO for the Pacific Asia Travel Association (PATA), 85
percent of Chinese outbound travelers travel within
the Asia-Pacific region. According to Travel China
Guide 2017, China is the top source of visitors for nine
countries in the region: Thailand, Japan, Singapore,
South Korea, Malaysia, Indonesia, Vietnam, the
Philippines, and Australia. Beyond Asia-Pacific, Europe
is the second most popular destination for Chinese
travelers, with more than six million Chinese travelers
visiting the continent. Ctrip, the country’s largest
provider of travel services, notes that the number of
Chinese tourists booking a trip to Europe through its
platform increased by 26.3 percent in 2017 compared
with the number who booked in 2016. Per capita
spend saw a year-over-year increase of 36 percent.
That said, only 120 million Chinese citizens (out of

more than 1.4 billion) currently hold a passport. At the
2018 World Economic Forum in Davos, Switzerland,
Ctrip CEO Jane Sun predicted the number of passport
holders would double by 2020. That expectation is
partly based on the fact that in mid-2018, the Chinese
government began easing the process of obtaining Photo: Shanghai, China
travel documents.
According to a report from Xinhua News Agency,

the official press agency of China, much of the
In-location spending is higher for
new application process will be based online, with
Chinese tourists traveling to countries
applicants needing to make only one trip (instead
farther from home. Chinese tourists
of several, as previously required), to the State
spent an average of $4,462 per person in
Immigration Administration.
the United States and $3,541 in Australia,
vs. $3,000 per person in Japan and South
A large number of current and future passport
Korea and $2,026 per person in Thailand.
holders will be high-end travelers. As of 2016,
there were approximately 3,380,000 individuals in
mainland China with more than six million yuan Source: The Outbound Chinese Tourism and
(or one million dollars US) in assets, according to Consumption Trends: 2017 Survey, jointly issued by
Nielsen and Alipay
The Chinese Luxury Traveler 2017, a Hurun report
published in conjunction with International Luxury
Travel Market (ILTM) Asia.
According to The Outbound Chinese Tourism and

Consumption Trends: 2017 Survey, jointly issued by
Chinese tourists made 2.8 billion
Nielsen and Alipay, which polled Chinese tourists
trips within their own country in 2017,
who are “generally well-off,” 56 percent said the
spending $679.1 billion dollars.
beauty and uniqueness of a given destination is
their primary consideration when choosing where Source: GlobalData
to travel, while 47 percent stated safety of the
destination would affect their travel choice.
Photo: The Great Wall at Badaling, China

Forty-five percent said that they consider the ease of visa procedures, and 35 percent felt it’s important
that locals at the destination make them feel welcome. For these travelers, the question of affordability
is far down the list, as only 34 percent of respondents expressed budget concerns.
This growth of the Chinese outbound market, together with increasing Chinese development in
international tourism product, is propelling hotel development in the Asia-Pacific region. As Michael
Issenberg, chief executive officer of hotel services for AccorHotels Asia-Pacific explained, “In the past
five years, we have seen that growth in luxury hotels is strongest in those countries that Chinese tourists
travel to. This includes China, Thailand (which has seen the fastest growth in luxury hotels overall), South
Korea, Singapore, and Hong Kong. By 2020, China is predicted to represent 40 percent of all Asia-Pacific
travel, and we expect that demand for luxury and lifestyle hotels will continue to grow as the middle
class swells and Chinese travelers become more sophisticated and mature.”
A more mature market also means a more adventurous market. Luxury travelers will start heading
farther afield. France, the United States, and Canada are already popular long-haul destinations for the
Chinese luxury market, and Chinese travelers are increasingly starting to explore beyond the main hubs.
This sense of exploration applies to preferred types of travel as well. While island travel is still a top
choice, the Hurun/ILTM report found that adventure travel is becoming very popular as luxury travelers
seek out more meaningful travel experiences. According to the report, around-the-world journeys, polar
exploration, and outdoor adventure are among the fastest-growing types of travel, percentage-wise,
particularly among a younger age cohort of Chinese travelers.
Another important sector is the Chinese business traveler. According to Koldowski, “Many older high-
net-worth individuals have investments and business overseas, so they sandwich in their holidays
during business trips.” He notes that Chinese investment, both on an individual and corporate level, is
“increasing quite rapidly in Southeast Asia and Australia, and in key global cities like London and New
York. If you look to where there’s Chinese business and investment, you’re likely to find a growth in
outbound luxury travel.“
What Do Chinese Luxury Travelers Expect from their Hotel Experience?
“We know that Chinese travelers are very brand-conscious,” said Issenberg. “Luxury brands are a
powerful way to demonstrate status and reputation for Chinese travelers, so it’s important for luxury
brands to create the right experience for them. We are increasingly designing hotels and services that
will appeal to the discerning Chinese market because we realize that this is the most powerful market
in the world right now.“
According to the Hurun Research Institute, young Chinese travelers in particular prefer a unique brand
style and artistic design, with elements of local inspiration and culture, when choosing a luxury hotel.
As explained in Hurun/ILTM’s The Chinese Luxury Traveler 2016 report, “This group of travelers considers
five-star hotels to be standardized and lacking in unique characteristics –– making them unable to offer
new and interesting experiences.”
This should serve as a warning to would-be developers. It’s certainly one reason why AccorHotels, for
example, is developing its new “playful and audacious” SO/ Hotels & Resorts brand in many of the places
that Chinese travelers venture. Originally created as an extension of Sofitel, the brand is now being
marketed as a standalone with flagships in Berlin, Bangkok, Singapore, and St. Petersburg. On the
horizon, the brand has new hotel projects taking shape in Auckland, Vienna, and Dubai.
Photo: Pullman Nanjing Lukou Airport

PATA’s Koldowski noted that personalized service

is one of the most important factors for Chinese
Sixty percent of China’s outbound luxury
travelers. They want staff that can speak Chinese.
travelers spend nearly $500 per night on
They want to see their culinary tastes attended to
accommodations, with 32 percent having
in dining venues. They also enjoy butler service,
lodging budgets of nearly $800 per night.
yet expect a level of personalized service that is
not overly invasive.
In order to ensure staff understands the nuances Source: Hurun Report and International Luxu-
ry Travel Market Asia (ILTM Asia),
of the Chinese traveler, AccorHotels has created The Chinese Luxury Traveller 2017.
its Chinese Optimum Service Standards.
According to Cowley, these standards encompass
special training so “hotel teams receive vital
training and greater cultural understanding of
Chinese travelers’ service expectations, preferences, and sensitivities.” Hotels are encouraged to employ
Mandarin speaking staff, while also providing Chinese newspapers, television channels, and electrical
adaptors. Increasingly, hotels are equipped with UnionPay and other mobile payment options, as well as
food items, both in dining outlets and in the minibar, that reflect Chinese tastes.
Marriott International, meanwhile, has Li Yu, a suite of Chinese-language services to make the travel
experience more convenient for Chinese travelers while they’re on the road. It’s available at Marriott
properties across the most popular travel destinations for Chinese travelers, including Paris, London,
Dubai, Tokyo, Osaka, Seoul, and Bangkok. Through the program, Marriott Rewards members can
connect with a concierge service assistant on their mobile devices via WeChat before, during, or
after their travels. The company has also deepened its partnership with Chinese e-commerce giant
Alibaba to launch an exclusive booking portal and enable mobile payments. Other international hotel
companies are working on related strategies.
With so many luxury brands competing for this lucrative market, how does a particular company make
inroads? According to Issenberg, “Chinese travelers will naturally show a preference for homegrown
brands. This is why it’s important for us to ensure that AccorHotels’ brands are widely seen, and that
Chinese domestic travelers can experience our brands as they move around China. It’s why we decided
to leverage with a Chinese partner to help us grow our network more quickly and to ensure that we can
put AccorHotels’ brands front of mind for the Chinese traveler.”
He further explained, “Our Chinese partner, Huazhu Hotels Group, has more than 100 million members
in its loyalty program and is opening around 50 new hotels under AccorHotels (midsize and economy)
brands per year as part of a master franchise agreement. We entered this partnership to allow
AccorHotels to become the largest hotelier within the Chinese market. Since signing the deal, we have
signed more luxury deals in China than in the five years before the deal was signed.”
How to Reach the Chinese Luxury Traveler
PATA’s Koldowski stressed that before approaching

the market, it’s important to understand that China
is not a monolith. He advises that for luxury travel Most Popular Destinations
companies looking to do business in the Chinese Outside Mainland China
market, “You shouldn’t try to do it yourself. You for Chinese Travelers
must establish partnerships with someone in China
who understands that there’s not just one Chinese 1. Hong Kong
mindset, who appreciates the difference among 2. Japan
Chinese markets.” 3. Macau
4. Thailand
Issenberg added, “The Chinese have their own 5. South Korea
ecosystems when it comes to commerce. In many 6. United States
ways, they’re ahead of the Western world, so we need 7. Singapore
to learn from them and ensure we’re not simply 8. Taiwan
providing the same cookie-cutter approach to what is 9. Australia
ultimately a unique market.” 10. France
For example, there’s Ctrip, the behemoth travel Source: The Outbound Chinese Tourism
and Consumption Trends: 2017 Survey,
services company that has more than 300 million jointly issued by Nielsen and Alipay
registered users. AccorHotels recently inked a
Memorandum of Understanding with the company,
which, according to Ctrip, “will focus on four strategic
pillars, including highlighting AccorHotels’ accredited hotels more prominently, building a flagship
store for AccorHotels, joint development of loyalty programs, and cooperation on IT.”
The ability to accept Chinese mobile forms of payment is also important. According to The Outbound
Chinese Tourism and Consumption Trends: 2017 Survey, the proportion of Chinese tourists who use
mobile payment platforms like Union Pay, Alipay, and Wechat Pay is far greater than that of non-
Chinese tourists. “During their most recent overseas trip, 65 percent of Chinese tourists paid for
their expenses via mobile payment, while 11 percent of their non-Chinese counterparts used mobile
payment.”
Then there’s the personal touch. PATA’s Koldowski recommended befriending China’s growing luxury
travel agent community to reach this traveler market. Indeed, the Hurun/ILTM report notes that 58
percent of Chinese luxury travelers are now using customized travel agency services, being “partial to
travel agencies that provide well-designed itineraries, personalized services, and are actively problem-
solving.” With growing numbers of high-end travelers booking through travel agents, getting on the
radar of the top agencies may lead to greater brand recognition and sales.
HOW MIXING IN RESIDENTIAL HELPS SPUR

LUXURY HOSPITALITY GROWTH
Photo: Raffles Boston Back Bay Hotel & Residences
Luxury hospitality is no longer just about hotels. In fact, a large percentage of luxury hotel
developments being built today come complete with a residential component.
According to Greg Doman, senior vice president, development for AccorHotels, residential is a big
area of growth for the luxury hospitality industry. Although the concept started in North American
resort areas about 20 years ago, during the past decade, it’s gone international and more urban.
More than half of the current luxury hotel projects in the AccorHotels pipeline have a mixed-use
component. A prime example is the recently announced Raffles Boston Back Bay Hotel & Residences,
which will have 147 guest rooms and 146 branded residences. About 80 percent of the developments
on the Four Seasons Hotels and Resorts drawing board are mixed-use. Ritz-Carlton also has a heavy
residential tilt in its new projects.
Perhaps not coincidentally, the boom started at a time when finding financing was challenging,
during the financial crisis of 2008. By building combination lots, whether mashing up retail,
residential, office space, or hotels, projects became less risky and thus more attractive to lenders ––
and to developers as well.
As Henry Hardeveldt, travel industry analyst

and co-founder of Atmosphere Research Group
explained, “Mixed-use makes building a luxury Mixed-use makes building
hotel economically viable. With the high price a luxury hotel economically
of real estate and limited availability, developers
viable. With the high price
are looking to maximize potential revenue
generated.”
of real estate and limited
availability, developers
Furthermore, adding a well-known hospitality are looking to maximize
brand into the mixed-use equation helps offset potential revenue generated.
the basis on the hotel, and can provide easier
access to financing. “For example, our new Raffles
project in Boston probably wouldn’t work without
residential,” said Doman. “One hundred and fifty
hotel rooms might not support underwriting, but add another 150 residential units, and it’s a whole new
ballgame for developers and financiers.”
Advantages extend to buyers and brands alike. According to Liam Bailey, global head of research for
real estate consultancy Knight Frank, “There’s still an element of trust and nervousness among buyers
about such a big investment decision. By buying into a branded residence, customers are buying into
the reputation of a brand and feel more comfortable buying a global brand they know from their home
market.”
Once a purchase is made, mixed-use residents get other unique advantages. According to Doman,
owners have the flexibility to trade their units or put them into a rental pool when they are off-property.
They also have access to hotel facilities, often get discounts on hotel rooms, and are eligible for premium
membership in loyalty programs.
Branded residential adds to brand visibility among high-end customers. “Hotel companies love it because
residents become the ultimate loyalty platform, the biggest brand ambassadors, when they literally buy
into the brand,” said Doman. “We also find that residents’ spend at related branded hotel properties goes
up exponentially.”
The Correlation Between High-End Travel and Branded

Residential Purchases
There are currently 40 properties in the AccorHotels luxury pipeline with a residential component. The
majority are in Asia and the Middle East. According to Bailey, “A big trend in the market is globalization
of demand. For example, the Chinese buyer is becoming more dominant –– accounting for 15 percent
of all foreign investment, which is the largest percentage of any one nationality. From data developed
when working with the Atlantis Dubai, we discovered that tourism can correlate with buying trends. In
the case of the Chinese, tourism to Dubai led purchases by three or four years.”
Doman added, “It’s rare you’ll sell real estate on

first blush. Our residents usually come on vacation
to a place first to learn about the market. For
It’s rare you’ll sell real estate
example, in Riviera Maya, Mexico, where we operate
on first blush. Our residents
the Fairmont Mayakoba, we added a residential
component once the market had matured. A bulk of
usually come on vacation to
sales went to people who had already been coming a place first to learn about
for years.” the market.
The same goes for urban sites. “Wealthy investors

help drive demand for property across global
markets,” said Bailey. “The decision of where
to purchase is driven by a range of factors, but
familiarity and knowledge are tangible pull factors when it comes to city locations.” So, in deciding where
to build branded residential next, hotel companies would be wise to examine the destinations to which
luxury travelers are currently flocking.
Photo: Fairmont Mayakoba

GM ROUNDTABLE: TALKING LUXURY WITH

FIVE-STAR HOTEL GENERAL MANAGERS
There’s no one better from whom to learn about the evolving expectations of high-end travelers than
an experienced luxury hotel general manager. We’ve accumulated a panel of six general managers who,
collectively, have spent more than 150 years in the world of international luxury hospitality.
Franck X. Arnold has been a general manager for luxury properties for
nearly two decades. Prior to his current role as general manager of The
Ritz-Carlton Toronto, he was the general manager at The Jefferson Hotel in
Washington, DC and The Balmoral Hotel in Edinburgh, Scotland.
Philip Barnes, managing director of The Savoy, A Fairmont Managed Hotel

in London, has been in the international luxury hospitality space for 40
years. Prior to joining Fairmont Hotels & Resorts 20 years ago, he worked
with brands ranging from Four Seasons to Shangri-La Hotels to Regent
Hotels.
Greg Brady is the general manager of the Sofitel Sydney Darling Harbour,
the city’s first branded luxury hotel built this century. Brady has more than
25 years of experience in the hospitality industry.
Shaun Campbell is managing director of The Langham Hong Kong. He

has worked in the luxury sector for more than 15 years, although he’s
been in the hotel business for more than 25 years. He has extensive hotel
experience across Australia and Asia.
Aaron Kaupp, general manager of Le Royal Monceau, Raffles Paris, is

another veteran of the luxury hospitality space. Prior to coming to Paris, he
managed luxury properties in Italy for many years, including the Armani
Hotel Milano and the Belmond Villa San Michele in Florence.
Robert Schofield is managing director of The Langham Chicago. An

industry veteran with more than 40 years of experience under his belt, he
has also been with InterContinental at the corporate level, and has worked
on-site at The American Club in Wisconsin and The Hay-Adams Hotel in
Washington, DC.
SkiftX: How has luxury changed since you started in the business?
Aaron Kaupp: I think our industry has completely changed 180 degrees in the last 25 years. Before,
when our clientele would stay at the nicest hotels, they would be getting ideas about how to renovate
their houses, or they would be learning about what was new in technology. Hotels used to be ahead of
the trends. Now, our clients have nicer homes than the nicest suites. So, expectations change. Today, to
impress guests, you want to raise the bar very high. You need to have a “wow factor.”
Franck X. Arnold: Luxury has changed tremendously. Luxury hospitality has had to evolve with
society. As more people have the means to travel, it’s gotten much more casual … and much less stuck in
the past … which is where luxury hospitality was for the longest time. Think about the classic hotel with
a conservative environment, a French restaurant, and strict codes of conduct. You can still find that in
Europe, but in North America and the rest of the world, things have evolved a great deal.
Philip Barnes: In some respects, it hasn’t changed at all. It’s still about attention to detail,
understanding who your guest is, and understanding their needs. The main difference is the formality.
Back in the days of César Ritz (Swiss hotelier and founder of the Hôtel Ritz in Paris), it was about a white
glove-style of service. But now, because guests are so busy, they now want more intuitive, more relaxed,
and more comfortable service ... and they want a relationship with the staff that’s taking care of them.
Greg Brady: A hotel can no longer define what luxury is –– that would be a bit arrogant. While
there was a time when hotels said “we’re luxurious” and that was that, hotels now have to deliver on
what clients require, and their personalized definitions of luxury.
SkiftX: The big buzzwords in travel are experiential, localization, and

authentic. How are you authentically delivering localized experiences
for your guests?
Kaupp: Our average guest age is 41 years old. People in younger age groups are more bound to
searching for authentic experiences and not doing what the majority of the world does. My customer is
not a first-time Paris goer, but wants to live Paris on an authentic level.
Our concierge team can deliver experiences that allow guests to live and experience through the eyes
of a local. For example, we offer an off-the-beaten track tour of Paris via a motorcycle sidecar. We have
access to open ateliers of up-and-coming French artists, showing our guests how they live and work.
Moreover, we have two restaurants and a bar in our hotel, and 95 percent of our visitors are locals. We
cater to the French. That’s local.
Arnold: People are so much more savvy now, they have experienced more. So luxury is now about
being able to do unique things –– the cherry blossoms in Washington, DC, the Grand Prix in Montreal,
or Fashion Week in Paris. In developing experiences, we simplify, but keep things more authentic. For
example, we know our guests have been to the best restaurants, so instead we invite them to choose a
package where they visit a local market with our chef, shop for local ingredients, and then come back
and cook a meal with him.
Barnes: To me, experience and authenticity are both inherent parts of a luxury hotel stay. You have
to build around things that are very genuine. At The Savoy, we have to pay homage to the past and
recognize the hotel’s history, but we also have to look at where we’re going. How do we create history and
stories today?
SkiftX: Today, the luxury traveler expects personalized service. How do

you research guests in order to understand their individual needs?
Barnes: Guests who stay with us expect us to know their expectations –– what kind of pillows they
want, what they eat. Fairmont has a global guest history system that is key to understanding that. Also,
our guest services department goes through the full arrivals list and looks at every guest. Why are they
here? Have they been here before? Did they have a problem when they came before? We actually spend
time writing personalized welcome cards to guests.
Campbell: It starts with constantly evolving how and what we personalize in the guest experience.
We’ve learned that some guests prefer very low profile stays, with some small familiar touches. Others
are more social, so we will give more recognition and be more proactive in engaging with them about
new suggestions to dine or to visit. We also brainstorm with some regular guests and local partners about
developing unique local experiences like tailored special offerings with fashion partners or jewelry brands.
Schofield: It’s our job to create the perfect experience for our guests, based on what we know about
them. People travel because they want to experience something new and discover a place they haven’t
been before. We push ourselves daily to come up with new initiatives for our customers and then build
on them. If a specific initiative was great one year, we seek out what can we do next year to give it a new
twist and push the envelope that much further.
Kaupp: Technology has played a huge part of getting personal. Our best friend is Google. In addition
to our internal data systems, we have a dedicated guest relations team that googles the clients who stay
with us to learn about their preferences. That said, we don’t want to go over the line of breaking privacy
or over-pushing boundaries. For example, if we can see from social media that they have a dog, we are
not going to put a framed picture of that dog in their room on the first stay –– that would be creepy. But
maybe on the second or third stay…
SkiftX: How else does technology help you deliver luxury experiences?
Kaupp: You can never replace human touch with technology. Luxury is based on experiences. Still,
technology has assisted operations in a fundamental way. As mentioned, it helps us understand guest
preferences from an operational point. But in terms of in-room technology, we have to make sure it is
easy to use. If I can’t figure out how to turn on the lights, it can be annoying and lead to frustration.
Brady: Technology allows for better interaction in the back of the house, serving as a communications
backbone for the staff. We are also developing an app that will allow us to communicate directly with
guests before, during, and after their stays.
Arnold: Technology allows us to do things faster and better, with more consistency, since information
flows more quickly. This enables us to respond immediately when addressing problems and maintenance
issues. Technology raises the guest’s comfort level.
Campbell: Technology is developing so fast. It can help enhance our guests’ experiences and meet
their expectations to stay connected anytime and anywhere. It also helps us to understand our in-
house guests’ external preferences, so that we can better understand the best products to be included
in packages for future visits. We have also introduced a Facebook and WeChat on-demand concierge
service to foster seamless, more user-friendly instant communications with our guests.
Schofield: Social media gives us the ability to connect more quickly with more people, and often
allows us to push more than one message out there at a time. We try to individually respond to every
guest, whether they have positive or negative feedback. This instantaneous feedback helps us improve
every single day, and helps potential guests visualize their stay. They can see how others have experienced
what we have to offer.
Photo: Sofitel Dubai The Palm Resort & Spa

SkiftX: Even with all of the technology in the world, luxury is still
about the personal touch. How do you go about finding employees
who can deliver on your brand promise in terms of service?
Kaupp: We cannot forget how important the human touch is. People go into the hotel industry
because of a passion for service. I can teach you how to read a profit and loss report, but I can’t teach
you how to be a genuine and welcoming human being. Today in luxury, there is more opportunity
for staff to display personality. You can go according to manuals, but the only way to create a human
connection is by putting your heart and soul into it.
Arnold: We pride ourselves on working with employees who demonstrate genuine care and
empathy, an eagerness to please others, and a satisfaction to serve others. A Greek philosopher once
said the essence of life is to serve others and to do good. By selecting people with this philosophy, we
can train them on the processes.
Barnes: We tell our colleagues, don’t let the guests leave unhappy. We create a culture that is not
about blame, but about doing the right thing. We also want the warmth to come through –– dare I
say, through humor? These days, luxury service is less about scripting and more about an individual
employee’s personality.
It used to be that when training staff, you told them what to do. But now, if you employ the right
people and train them, you set them free to treat the guest in their way. That defines luxury service
now.
Arnold: The labor market is very tight, and international luxury chains have started becoming a
little more relaxed. I’ve definitely noticed an increase in tattoos and facial hair. If you want to hire a
mixologist or a chef these days who has a sense of relevance, is creative, and follows trends, it’s hard to
find them without beards and tattoos –– they live their craft. It’s not always easy to maintain a level of
sophistication, but it’s important to remember that expectations of sophistication have shifted.
CEO INTERVIEW: CHRIS CAHILL OF ACCORHOTELS

LUXURY BRANDS ON WHAT’S NEXT FOR LUXURY
HOSPITALITY
Chris Cahill is CEO of AccorHotels Luxury Brands. He has
worked in the luxury sector for over 25 years, including a
19-year stint as president and chief operating officer of
Fairmont Raffles Hotels International. As part of his global
role, which ranges from the luxury to upscale segments,
Cahill is responsible for AccorHotels’s luxury brands: Raffles,
Orient Express, Fairmont, Sofitel, and SO/. Orient Express is
the most recent addition to the Group’s luxury offerings. The
company acquired a 50 percent stake in the share capital of
the Orient Express brand in October 2017 and is aiming to
relaunch the prestigious brand back onto the global scene
later this year.
Dating back to 1887, Raffles is an iconic brand known for

its distinguished addresses and classic service. Fairmont is
Photo: Chris Cahill , CEO
deeply rooted in the places it calls home, with the brand’s
AccorHotels Luxury Brands
hotels acting as cultural and social epicenters of the local
community. Sofitel, meanwhile, offers French modern luxury in all of its locations around the
world, while SO/ is a playful lifestyle brand. As for Orient Express, AccorHotels will be working
with co-owner SNCF Group to develop a new collection of prestigious hotels based on a legacy
brand that’s a symbol of timeless luxury travel.
SkiftX recently spoke with Cahill to get his thoughts on where luxury is going next.
SkiftX: The luxury travel sector is experiencing exponential growth around the world. Why is
that?
Chris Cahill: If you look at it from a macroeconomic level, during the past 35 years,
global tourism has been experiencing compound annual growth rates of 4 or 4.5 percent.
Globalization and technology are shrinking the world. At the same time, travel is becoming
less of a discretionary spend than a fundamental right. People are much more focused on
incorporating travel into their leisure time.
Demographics are also feeding into the growth. People are living longer and they’re staying healthier.
The baby boomers have more time and money. On top of that, there’s the emerging middle class in
developing economies –– in China, Asia in general, and the Middle East and Africa. Put it all together,
and there’s a great deal of upward push in the affluent population.
SkiftX: How has luxury changed since you’ve been in the business?
Cahill: The fundamental change is largely around the physicality of the offering. Some years ago,
it was about the quality of the furnishing, along with the focus on formal service. Nowadays, beautiful
lobbies, fine linens, and marble bathrooms –– while still in demand and highly appreciated –– are
merely the basis of luxury. They’re commodities.
Today, the feeling of entering a magnificent space where one is greeted by name is a thoughtful
intimacy that makes guests feel they are being treated with care and surrounded by luxury. Our guests
tell us that luxury is an emotional experience. As a result, luxury is being broadened to aspects such
as facilitating experiences. Thus, it’s moved from a physical definition to having a more personalized,
softer side.
The luxury customer has also become much less strictly defined. Twenty years ago, most luxury
travelers shared a similar demographic and financial profile. Today, the market for luxury is much
broader, with many aspirational travelers willing to spend beyond their means to attain luxury goods
and services.
SkiftX: Who defines luxury today? Several of your colleagues have noted that, whereas in the
past, the hotel itself defined luxury, today, the consumer sets the definition. Do you agree with this
assessment?
Cahill: Some brands in the jewelry or fashion spaces still define luxury in hard ways. But from a
hotel perspective, it comes from the customer. Guests want to be more comfortable in their luxury
experience, and so they are defining the experience, concerning everything from design to the food
and beverage offering.
SkiftX: Speaking of food and beverage, it seems another shift has been to make the hotel
restaurant more of a gathering spot for locals rather than a convenient accessory for guests.
Cahill: I would say that today, a large part of the hotel product is geared to the local market.
Restaurants, bars, the spa, and the health club all are driven by revenue from the local customer. In a
sense, it’s much easier to figure out what the local customer wants. If you get the public spaces right
for locals, the hotel guests will follow, as it further localizes their experience.
SkiftX: Since the title of this report is Where Luxury is Going Next, what are your thoughts about the
actual destinations that are going upmarket?
Cahill: There are so many areas around the world that are right for growth. In terms of what I am
seeing, Laos is starting to develop, while Vietnam has seen explosive growth in luxury in recent years. In
Africa, Tunisia has great prospects.
Even in Europe, there is growth. Cities in Eastern Europe are becoming better known as people want to
go beyond the main destinations. Part of it is exposure. Once people learn about destinations, they are
more likely to visit. Some areas are being opened up and becoming more familiar due to river cruising.
But it’s also a matter of governments recognizing tourism as an economic opportunity. That’s a significant
shift from 20 years ago. Countries started realizing the export capacity of tourism, whereas before, they
didn’t really think about it as a product.
SkiftX: What’s next for the luxury traveler?
Cahill: The luxury consumer will continue to evolve and it will be interesting to watch, as everyone
is looking for what’s the “new” new. It’s likely about self-fulfillment that goes beyond the experiences,
what travelers can take away from a destination. Our job is to facilitate those desires, with individual
recognition and delivery of experience as the ultimate goals.
Photo: Raffles Europejski Warsaw

CONCLUSION
So where is luxury going next? In a nutshell, everywhere. But to narrow it down a bit, first look to places
where infrastructure development is going strong. Next, look to destinations that are appealing to
high-end and aspirational Chinese jetsetters. Third, consider destinations that might not have, in the
past, been considered traditional luxury. After all, today’s high-end traveler is not looking for the tried
and true.
That means today, luxury travelers can be found everywhere from second-tier cities to remote
destinations in developing countries. And as travelers increasingly flock to novel places, expect
hospitality companies to bookmark them as well.
LIKE WHAT YOU SEE?

Skift is the largest intelligence platform in travel, providing
Media, Insights & Marketing to key sectors of the industry.
Through daily news, research, podcasts, and Skift Global Forum

conferences, Skift deciphers and defines the trends that matter
to the marketers, strategists, and technologists shaping the
industry.
SkiftX is Skift’s in-house content marketing studio, working

collaboratively with partners like Mastercard, Hyatt, Adobe,
Lyft, Airbnb, and many more on custom projects to engage
the world’s largest audience of travel infuencers and decision
makers.
Visit skiftx.com to learn more or email at skiftx@skift.com

Carolyn Kremins
President, Skift
ck@skift.com
212-564-5830

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WHERE

ABOUT SKIFT MASTHEAD

Skift is a travel intelligence company that offers Writer / Laura Powell

Authenticity is essential to global voyagers. Consequently,

Throughout this report, we will explore the many ways we seek

Chris Cahill, CEO,

INTRODUCTION: WHERE LUXURY IS GOING NEXT

Photo: Sofitel SO Singapore

Photo: Pullman Bangkok King Power, Thailand

NEW DESTINATIONS ON THE RADAR

Photo: Raffles Hainan

Asia-Pacific Rises Above the Rest

There’s a particular focus on Hainan, an island

Photo: Nay Pyi Taw, Myanmar

The Middle East Sees Growing Demand

For those with their eyes on

The Middle East is another hotbed for investment.

At present, the overwhelming majority of the country’s

The Red Sea Project in Saudi Arabia will likely be a

Africa’s Strengthening Potential

Photo: Kigali, Rwanda

Finding Room to Build in Europe

While many of the developing markets in Asia and

Photo: Mykonos, Greece

Photo: Fairmont Baku, Flame Towers

Fresh Approaches to Mature Markets

Photo: Sofitel Sydney Darling Harbour

THE GREAT WEALTH OF CHINA’S

According to John Koldowski, special advisor to the

That said, only 120 million Chinese citizens (out of

According to a report from Xinhua News Agency,

According to The Outbound Chinese Tourism and

Photo: The Great Wall at Badaling, China

What Do Chinese Luxury Travelers Expect from their Hotel Experience?

Photo: Pullman Nanjing Lukou Airport

PATA’s Koldowski noted that personalized service

How to Reach the Chinese Luxury Traveler

PATA’s Koldowski stressed that before approaching

HOW MIXING IN RESIDENTIAL HELPS SPUR

Photo: Raffles Boston Back Bay Hotel & Residences

As Henry Hardeveldt, travel industry analyst

The Correlation Between High-End Travel and Branded

Doman added, “It’s rare you’ll sell real estate on

The same goes for urban sites. “Wealthy investors

Photo: Fairmont Mayakoba

GM ROUNDTABLE: TALKING LUXURY WITH

Philip Barnes, managing director of The Savoy, A Fairmont Managed Hotel

Shaun Campbell is managing director of The Langham Hong Kong. He

Aaron Kaupp, general manager of Le Royal Monceau, Raffles Paris, is

Robert Schofield is managing director of The Langham Chicago. An

SkiftX: The big buzzwords in travel are experiential, localization, and

SkiftX: Today, the luxury traveler expects personalized service. How do

Photo: Sofitel Dubai The Palm Resort & Spa

CEO INTERVIEW: CHRIS CAHILL OF ACCORHOTELS

Dating back to 1887, Raffles is an iconic brand known for

SkiftX: What’s next for the luxury traveler?

Photo: Raffles Europejski Warsaw

LIKE WHAT YOU SEE?

Through daily news, research, podcasts, and Skift Global Forum

SkiftX is Skift’s in-house content marketing studio, working

Visit skiftx.com to learn more or email at skiftx@skift.com

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