Study – US Wealthiest opt for Vacation Rentals

Study – US Wealthiest opt for Vacation Rentals

A recent study by Resonance Consultancy, unveiled how the wealthiest Americans prefer to book and travel. Maybe the outcome is not much of a surprise, but then again there are some aspects that I would like to share.

For this 2016 U.S. Luxury Travel Report, Resonance Consultancy examined the travel and leisure habits of the wealthiest 1% and 5% of households by conducting an online survey of 1,667 U.S. luxury travelers.

This demographic includes all households with an income of $200k+ or net worth of $2 million+.

The research claims that this small demographic has a startling economic impact: the wealthiest 5% take an average of 14.3 trips per year (about half for business and half for leisure) with an average expenditure of $3,115 per person per vacation.

Very curious is their shift in demand as the report indicates how this market seeks large homes and multi-bedroom villas that facilitate “togethering”.  This demand  may see an increase as 45% of the top 1% as they are planning vacations with friends, 41% with children and 30% a multi-generational vacation.

Great news for vacation rentals!

Not just that, but amongst their top destinations for 2016 we find Italy and France.

Ok… that is not really much of a surprise!

Anson David

Anson David

Anson David is an entrepreneur with a passion for the travel and hospitality industry. His marketing acumen permits him to take ideas to market fast and develop niche businesses. Based on the idyllic Mediterranean island of Malta, Anson enjoys snorkelling, squash, cooking and driving classic cars.
Anson David

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