The Virtuoso luxury travel network will introduce a new “invitation only” group in 2019 for its travel advisors working with high-net-worth customers around the globe.
Dubbed “Ultraluxe Travel”, the new category was announced earlier this year at Virtuoso Travel Week in Las Vegas. It will be one of two new communities introduced next year, the other being Culinary Travel.
Virtuoso launched its ‘Communities’ just under two years ago, and now comprise of Virtuoso Adventure Travel, Virtuoso Wellness Travel, Virtuoso Voyages and Virtuoso Family Travel.
As the name implies, Ultraluxe Travel will target the very, very top tier of luxury travellers.
Speaking exclusively with LATTE this week while in Sydney, Virtuoso CEO and Co-Founder Matthew D. Upchurch explained that Virtuoso distinguishes its ultra-luxe clients by the dollar amount they spend on a trip. Where the bulk of luxury travellers may spend the equivalent of $13,000 on a holiday, high-net-worth clients are spending $130,000 or more annually on travel.
Based on Virtuoso customer data collated over the past five years, ultra-high-net-worth customers only make up 3% of the travel company’s clientele, but generate a whopping 40% of revenue.
“Ultraluxe is a subset of our advisors who have a lot of ultra-high-net-worth people. To be a member of this group, our luxury travel advisors will have to prove they have ultra-high-net-worth customers.”
“The primary component of the Ultraluxe Community will be private: private jets, private islands, private, private, private. It’s all about exclusivity,” Upchurch said.
While still only in their infancy, the Virtuoso Communities have struck a chord with members, Upchurch said.
“It’s only two years old but the proof is in the pudding. Advisors who are in the community are selling 72% more than the average Virtuoso agent in that category.”