Carrier has unveiled exclusive insights into the spending behaviours of high-value clients, following extensive research into its £100,000-plus bookings.

The luxury operator analysed a sample of 110 bookings from the past three years, partnering with a business consultant and interviewing its agents to find out more about the 35 people behind these lucrative trips. 

Presented at Carrier’s annual Retreat in Sardinia earlier this week, the results revealed seven key details about these affluent travellers – and, crucially, what they want from their advisors. 

1. 90% of high-value bookings come through a travel agent

Carrier found that 90% of these clients used a travel advisor, highlighting just how crucial agents are to serving business at the top end of the market. 

“This is perhaps the most reassuring statistic you’ll receive at this retreat,” Rick Milne, sales and commercial director at Carrier, told attendees, before adding: “These clients don’t want high-touch travel with a faceless brand. They want a personal relationship, not a transactional one.” 

2. Networking is key to finding these clients – but not how you think 

Networking is king when it comes to making the big bookings, accounting for 57% of the surveyed agents’ high-value trips. Referrals drove a far lower 23% of conversions, while both social media and marketing resulted in just 3%, respectively. 

However, ‘traditional’ networking – such as attending business events or charity functions – doesn’t appear to be the most effective. The majority of advisors found their high-value clients through seemingly “random encounters”, such as conversations at the gym or meeting another parent outside the school gates. 

“The antenna should never be off for these clients” 

Milne encouraged advisors to act on such serendipitous moments, any of which could lead to a booking in excess of £100,000. “These people often inhabit your universe and you need to be on the look out for them,” he said. “The antenna should never be off for these clients.” 

3. Tech is big for high-value bookings 

The tech industry is a treasure trove of high-spending clients, producing 35% of clients that spend more than £100,000, according to Carrier. 

And it makes sense; founders and investors of tech and IT companies often exit with major windfalls, leaving them with a large amount of disposable income to enjoy. Meanwhile, those still working in the sector tend to be time-poor, making them more likely to outsource their travel planning to a professional. 

Their age, interestingly, also makes them a candidate for booking through a travel advisor: many are younger and want active holidays which require more organisation, such as Antarctica expeditions or private safaris.

The next most lucrative industry is finance, where people who work in hedge funds and investment banking produce about 20% of high-value bookings. 

4. High-value clients are almost always business leaders 

Carrier’s research found that its high-value bookings are overwhelmingly made by business leaders, with 91% either chief executive officers or founders.

Of this group, 32% had successfully sold a business, with more than four out of every five £250,000 bookings coming as a direct result of selling a business. And they’re not as elusive as you might think; only one client out of the 35 had communicated with the agent through a personal assistant. 

5. High-value clients are often from the US 

The US is a major generator of Carrier’s high-value bookings, almost half of which came from clients who are based, or have connections, across the pond. 

Americans are an obvious choice, with many of the country’s high-net-worth individuals already familiar with the travel agency model and often willing to pay a fee for the service. Less holiday entitlement also means they have less time to plan their vacations, which in turn, must be well managed to make the most of their annual leave. 

6. Most high-value bookings are made by clients over 60

Older clients are crucial to Carrier’s high-value bookings, with 76% of trips that exceeded £100,000 made by people over the age of 60.

It’s hardly a surprise that travel is a priority for this generation, many of whom are retired or simply working less. What is interesting, however, is their reason – or lack thereof – for taking vacation.

76% of trips exceeding £100,000 are made by people over the age of 60

Carrier found that 70% were travelling for no specific celebration, but rather as an opportunity to spend quality time with their extended families. A whopping 90% of bookings were for groups of more than four people, while 25% were for a party of nine or more. Meanwhile, just 7% of bookings from this category were for couples. 

7. Loyal clients make high-value bookings 

It’s possible for clients to become big spenders overnight – but it’s rare. 

More often than not, high-value bookings come from those who have developed trust in the agent over time. It’s therefore crucial to identify the clients who have potential to spend lucratively and to invest in nurturing these relationships. This investment doesn’t need to be costly either; agents spoke of the value of small gestures, such as ‘welcome home’ packages or simply checking in with the client during their holiday.