Compare the needs of Europe's super-rich and you will notice significant differences. "In Poland, for instance, there is a much more extrovert conception of luxury than in Germany. Germans or Swiss so-called high net worth individuals (HNWI) often wish to give something back to society with their wealth", - this is one of the main conclusions from the comparison. In other countries, on the other hand, the super-rich commission ostentatious palaces or order their third Ferrari. Many luxury vacation operators have not yet recognized that such a heterogeneous clientele can also have very different needs on holiday.
While the fashion for bargain holidays and eco-friendly travel are a talking point, the super-rich are developing comparatively unnoticed into a target group. "The luxury market is the fastest growing segment in the travel sector. Therefore, for organizers of luxury holidays, a rosy future lies ahead - especially if they at least hit the nerve of the wealthy clientele. Yet what exactly does a travel-hungry millionaire expect from his holiday?
The value of memories counts
"Luxury is not only defined by price. Non-material factors are especially important." People are concerned about the value of their memories, about knowledge, about experiencing something authentic and qualitatively high-value. They are interested in enjoying travel with a clear conscience and about the individual, authentic value of an experience. In the luxury segment, many tour operators, according to experts, are still far behind the optimum. "A five-star hotel that is still processing mass tourists is doing something wrong". A standard, patented recipe will not work if guests arrive from all over the world with their various needs and desires.
Sometimes, even premium tourist companies make what are meant to be the most relaxing days of the year into a complicated business. "Many tour operators confuse the client, for example, by offering a complicated scheme of 25 different tariffs, whereas holidaying should be about relaxation". The guest wants to keep control of his daily routine and not to be treated like a child. If a hotel receptionist informs a guest who is arriving early in the morning that check-in is not possible before 3 p.m., this is not offering a customer-friendly service.
In the hotel industry, the magic words are, "Live your own schedule". "In the luxury segment it should be possible for a guest to enjoy dinner at 3 a.m. in the morning or to go to the spa at 4 a.m." What is on offer to business travellers in many locations still has to be matched in many holiday destinations.
High net worth individuals (HNWI) are classified as individuals with assets worth between 30 and 300 million US dollars. According to the 2007 World Wealth Report, in the year 2006, there were overall 9.5 million HNWIs. This represented an increase of 8.3 per cent compared to the previous year. According to "Forbes" ranking, in 2008 there are a total of 1,125 billionaires worldwide - in 2007, the figure was 946.
Savour provides the best in new journalism combined with a modern, high-quality aesthetic Design.
