Speaking at the Aria Resort & Casino in Las Vegas, Virtuoso’s vice president of global public relations Misty Belles said Virtuoso’s sales for the first half of 2023 are 69% higher than in 2019 and up 36% compared to 2022. She said: “2023 has really blown 2019 and even 2022 out of the water. There is demand and there’s also the affluence of individuals who are able to pay for travel.”
Future sales made during the first half of this year, for travel one to two years in the future, are up 107% compared to the same period in 2019, and up 39% compared to 2022.
Belles said sales for cruise are “equally impressive”, with future cruise sales up 106% compared to 2019, and up 44% compared to 2022. She added: “When you consider the amount of product coming into the market as well, that’s not market saturation, it’s demand that’s driving that.”
She said hotel rates from 2019 “have been left in the dust” due to the high level of demand, noting the average daily rates (ADR) commanded in 2022 are still “really holding strong”.
When comparing ADRs for 2023 to 2019, Virtuoso found they are up 58% for luxury international hotels outside the USA, and up 57% for hotels in the USA. “Hotel ADRs for the rest of the year are sustained and even rising into Q4 of 2023,” Belles added.
Virtuoso’s research also highlighted the role food and wine tourism plays in motivating clients to travel, as 70% of advisors have seen an increase in culinary travel, and 20% of consumers book trips with food and wine as the focus. Nearly half of those travellers spend $10,000 to $25,000 per trip.
When advisors were asked about their clients’ top culinary destinations, Europe ranked top, followed by ocean and river cruising. Belles said: “It just highlights how the cruise lines have really stepped up their culinary game with consulting chefs and new restaurants and making that a central focal point for cruising.”
Virtuoso has seen a 50% increase in the number of consumers looking for a Virtuoso advisor through its website since the beginning of the pandemic, and Belles added: “The pandemic has brought into very clear view the importance of using a travel advisor.”
She continued: “We know it is all about the experience. Service and how travellers are made to feel really matters and it makes the difference between a trip and a really memorable experience. 57% of Virtuoso travellers say that creating a travel experience that meets their expectations is more important than the price of that travel.”
Virtuoso generates an average of £19-23 billion in annual sales, and bases its trend forecasts on transactional data and global insights from its 21,000 travel advisors and 2,300 preferred partners worldwide.
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