Marriott International has identified a new “influential group” of wealthy travellers the hospitality giant has dubbed as “re-imaginers”.
Speaking at a VIP event at the Sydney Opera House this week, Tina Edmundson, President, Luxury for Marriott International, said over the past few years global wealth has “exploded” and is thriving.
“The number of millionaires and billionaires continues to grow,” Edmundon told guests at the event, with data suggesting the figure will rise from 62 million in 2021 to 87 million by 2026.
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“So we know there’s just tonnes of opportunity, a huge opportunity for these global luxurians,” she said, highlighting that Marriott is a dominant player in the luxury accommodation segment with eight brands – Ritz Carlton, the Ritz Carlton Reserve, Bulgari, St. Regis, EDITION, The Luxury Collection, JW Marriott and W Hotels.
“[These brands are] really setting the standard for unique, transformative and immersive experiences that we know that our global affluent travellers desire,” she said.
“Against the backdrop of growing global wealth, we’re seeing these seismic cultural shifts fueled by the global crisis over the last couple of years.”
And while the COVID years have been challenging, they have also been a catalyst for “innovation and growth, including the rapid acceleration of e-commerce, home delivery, cashless transactions, sustainable practices.
“These cultural shifts have really contributed to the rise of a small but quite influential group we’ve named The Re-imaginers’.
Edmundson continued: “These are people who perceive crisis as moments of opportunity, and it’s an opportunity to not only rethink their lives but really for them to reimagine the entire world around us.
“This group is moving from wanting to lead a successful life to wanting to lead a more significant life.”
“They are shifting from a desire to add more friends and followers, to a desire to have more meaningful relationships with loved ones.
“This group is moving from wanting to lead a successful life to wanting to lead a more significant life.”
“They are shifting from a desire to add more friends and followers, to a desire to have more meaningful relationships with loved ones.
“They’re progressing from a focus on just physical fitness, to focus on mental fitness. And they’re reimagining the concept of making more money, to making more of time, and instead of relentlessly grinding away, they have this desire to be much more present.”
She continued, saying ‘The Re-imaginers’ find luxury travel in particular allows them to do all of this.
“I often say that prior to the pandemic, people viewed travel as discretionary. It’s kind of nice to have. The reality is, post-pandemic, people have realised that travel is a fundamental need. They need to have, and it is no longer a nice to have. And this is in part because travel really facilitates all of these aspects of the shifting aspirations and luxury travel has really led the recovery for the industry,” Edmundson said.
Marriott International currently operates 500 properties across its eight luxury brands, and has a further 200 in the pipeline. In 2023 alone, the hotel juggernaut will add another 35 luxury hotels to its stables.
Lead image: Marriott’s Brad Buiring, Cheif Sales and Marketing officer of Asia Pacific; Chris Gabaldon, Senior Vice President, Luxury Brands; Tina Edmundson, President, Luxury; Jennie Toh, Vice President Brand Marketing and Brand Management; and Sean Hunt, Area Vice President.