Last month, a delegation of Walpole members travelled to New York City for their biennial British Luxury Trade Mission.
Throughout a busy week, Walpole hosted events with JP Morgan, Hearst, the Financial Times, Bergdorf Goodman, and Christie's. These events included intimate panel discussions with content creators, a fascinating hospitality roundtable with travel advisors and media, and culminated with a cocktail reception at the British Residence, hosted by Melanie Hopkins OBE, Acting HM British Consul General.
To coincide with the mission, Walpole commissioned a trends report on the travel and hospitality sector produced by Notable and Globetrender and titled “The Art of British Luxury Hospitality.” While focused on British luxury brands, it contains insights that apply to the entire industry. I always find it engrossing and useful and attach a copy here in the hopes that you will as well.
This year’s report was largely concerned with hospitality’s role at a time disrupted by political, economic, and technological upheaval. It was a highly topical subject for research. Here are a few of the key points:
Younger, affluent (but not wealthy) consumers are driving growth in the luxury travel industry. According to a 2024 McKinsey report, one third of spending in the U.S. luxury leisure travel market came from travelers who aren’t millionaires; that segment is expected to grow at an annual rate of 5% through 2028.
That finding was seconded at a roundtable discussion last week in New York with Walpole members and top travel advisors and journalists, where it was noted that kids are increasingly driving decisions about destinations and hotels, and that marketing to the under-40 set is becoming more and more critical.
In times of uncertainty and disruption, consumers turn to the familiar as sources of comfort, whether hands-on rituals or interpersonal connection. Travel and hospitality are well placed to provide those types of balms, in the form of art, music, heritage, and cuisine. “Travel is so sensorial,” is a quote from The Lanesborough’s Stuart Geddes that I think is helpful to remember.
Hotels are actively becoming platforms for creative expression, whether by providing cultural experiences or celebrating artisanship. The latter should be seen not as nostalgia for lost craftsmanship but as something that is alive and evolving.
Examples include master classes with artists or chefs; collaborations with artists and craftsmen; or partnerships with art and fashion brands. This aligns with the overarching trend of luxury being defined as unique and personalized experiences rather than expressions of opulence.
Hospitality, in its role as a lifestyle facilitator, will be seen as a balance to artificial intelligence and automation. In a society increasingly driven by technological advancement, true luxury will lie in the art of human connection, and people will crave sincere face-to-face interactions more than ever.
Again, the travel industry can be at the vanguard of this, by providing genuine hospitality, helping guests interact with nature, and serving as linchpins for local economies and communities.
Personal connection (as with family) and wellness (both physical and emotional) can also serve as antidotes to the rise of automation.
I hope you enjoy reading the report, and please do let me know your thoughts.
Peter J. Bates, President & Founder
pbates@strategicvision.org / www.strategicvision.org
