Fuelled by grandparents’ wallets and grandchildren’s sense of wanderlust, multigenerational travel is poised for rapid and sustained growth according to a new USA survey conducted by Preferred Hotel Group to identify emerging trends in multigenerational travel.
“While the growth of multigenerational travel has been a buzz in the hospitality industry for several years, shifts in the economy, new technology, and even contemporary parenting have had a measurable impact on how multigenerational travel is packaged, planned, taken and paid for,” says Lindsey Ueberroth, company resident & CEO. “This is multigenerational travel 2.0 and these days, children are calling the shots, grandparents are increasingly funding the cost of the trip, and an overwhelming percentage of Millennials – 91 per cent of those surveyed – say a multigenerational trip is something they try to take every year.”
Ueberroth presented these findings on 2 December 2014 at ILTM in Cannes, with the company’s Preferred Family branch catering well to this popular market.
Encompassing an examination of multiple variables including the attitudes, behaviours, preferences, social values, lifestyles, and media habits of multigenerational travellers, the Preferred Hotel Group study confirmed a continued desire to “spend more time with family on vacation”. According to the study, this same motivation is now amplified by the frenetic pace of contemporary life and corresponding sense of guilt many parents feel about not having enough time to spend with their children. As a result, travellers who have taken a multigenerational trip previously are “likely” or “very likely” to plan another domestic (86%) or international (48%) multigenerational vacation during the next two years.
“The size and scope of the opportunity inherent in this growing market segment is apparent,” says Ueberroth, noting the company’s longstanding commitment to multigenerational travel. “With existing programmes like Preferred Family … and the development of other brands like the new Preferred Residences, Preferred Hotel Group is well positioned to continue to lead in this category.”
Across its worldwide portfolio of independent luxury hotels, Preferred Hotel Group has 283 hotels and resorts that are Preferred Family Certified. Ranging from oceanfront resorts to hotels in close proximity to theme parks to iconic hotels across Europe, Africa and Asia, the properties offer amenities, facilities, programs, entertainment and services specifically tailored to multigenerational travellers.
A complimentary copy of the full report is available upon request.