Posts Tagged ‘ McKinsey ’

Luxury Travel Market Improves?

Dec 5th, 2009 | By

One part of the travel market that has been hit by the recession has been the market for luxury holidays. People have traded down from 5 star hotels to a lower star rating. Even places like the Maldives are looking at opening 3and 4 star hotels.

Last December at a luxury vacation exhibition in Las Vegas, visitors were lower and some of the exhibitors that I spoke to were concerned that the market for such holidays would be in a slump for some while. Now that a year has gone by it appears that people are returning to this type of holiday.