Top-Flight Families | TravelPulse
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APRIL 2017
Top-Flight Families A luxury survey paints a picture of the rapidly expanding market for affluent families VACATION AGENT | TRAVEL AGENT | ROBIN AMSTER
PHOTO: The survey found that millennial and gen‑x parents see less separation between activities for kids and those for adults.
VACATION AGENT MAGAZINE A version of this article appears in print in the April 2017 issue of Vacation Agent Magazine.
The general impression for some time now has been that the luxury family travel market is flourishing – yet there has been a dearth of research to
SUBSCRIBE
corroborate that perception. Until now. Carmen Sognonvi, founder and publisher of the online resource Top Flight Family, created a survey to profile affluent family travelers, including their travel habits, preferences and spend.
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The findings paint a picture of one of travel’s fastest‑growing segments, said Sognonvi, who launched Top
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Flight Family last spring as a resource for affluent parents who travel with their children. “There have
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luxury family travel,” she said.
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VIDEO
OPINION
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1
2
3
It found that respondents spent about $1,500 per person per vacation. With an
Several factors account for the surge in luxury family travel. “Generally
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4
means affluent households spend more than $23,000 per year exclusively on family travel.
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years and household incomes of more than $100,000 a year.
average household size of 3.9 and an average of 4.1 trips taken per year, this
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The survey, conducted online between Oct. 8 and 24, 2016, is based on responses from 362 residents in 42 states with children under the age of 17
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speaking, parents are having children later in life, and by the time they do have kids they are a little more affluent than their own parents,” Sognonvi said. “They don’t want to compromise their lifestyle.” Sognonvi also cited the influence of millennials. “A lot of millennials are parents now and they value experiences over possessions,” she said. “Being able to travel with their kids and expose them to those experiences is something they value. Millennials’ budgets might be smaller but as more have kids and get older, their mindset and value system will carry over into the luxury space.” Additionally, parenting styles of millennials – as well gen‑xers – are a factor. “There’s a real change in parenting styles,” Sognonvi said. “Generally millennial and gen‑x parents see less separation between activities for kids and those for adults.”
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Although beach vacations ranked high with affluent parents, at 24 percent, they were nudged out of the top spot by activity and adventure travel, at 27 percent;
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followed by visiting family, 18 percent; visits to major metropolitan cities, 9
TRAVEL AGENT
percent; and camping, 8 percent. “I suspect the older the kids, the more adventurous the family can get,” said Sognonvi. “An interesting challenge for travel agents is how they can incorporate more adventure, even for families with younger kids. It doesn’t have to be a full‑on safari, for example, it could be ziplining.” Among the survey’s other findings: The most popular reason for traveling with kids, at 35 percent, was to bring families closer, followed by enrichment education, 23 percent, and visits to relatives, 20 percent. Hotels, at 60 percent, were the top choice for vacationing families, and affluent parents also aren’t afraid to book high‑end properties. Nearly half, 43 percent, have had their child stay with them at a five‑star hotel or resort. Not surprisingly, domestic destinations accounted for the majority of affluent family travel, but as family income increased, so did the number of international trips. Families with household incomes of $400,000 and up were seven times more likely to travel internationally than those with incomes of $100,000 to $149,000.
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Parents with kids 13 and older were twice as likely to travel abroad as those
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with children 5 and younger.
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The survey’s takeaway for agents? “Luxury family travel is potentially a very lucrative market and it’s poised to grow, so if you can make it one of your specialties and master what affluent parents are looking for, it’s a great way to grow your business,” said Sognonvi. For a copy of the survey, go to topflightfamily.com/luxuryfamilytraveler2016.htm. VIRTUOSO’S TAKE ON THE LUXURY FAMILY TRAVEL MARKET Family travel is a powerful trend for agents who specialize in luxury travel. In Virtuoso’s Luxe Report, luxury advisors placed multigenerational travel as the No. 1 or No. 2 top trend for the past three years, while travel with the immediate family was in the top six trends, according to Cece Drummond, managing director, destinations and experiences, for the luxury travel network. “Luxury family travel is definitely a growing segment for our advisors,” said Drummond. “Time is not a renewable resource, so luxury travelers want leisure time to spend with loved ones. It’s not about things; it’s about valuing experiences rather than objects.” Drummond pointed two compelling concepts related to family travel from Virtuoso CEO Matthew Upchurch. Upchurch’s “Journey to Global Citizenship” promotes travel as a way for parents to forge family bonds and transform their kids into global citizens by exposing them to other cultures. His “Return on Life” concepts asks why advisors shouldn’t provide a future travel plan for consumers in the same way that financial planners map out their future finances. That means parents with newborns can formulate a family travel plan for each stage of their child’s life. “With long‑range plans, parents have something to dream about and plan for, while advisors have the opportunity to make life‑long clients,” Drummond said. Share on Facebook
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For more TRAVEL AGENT NEWS MORE BY ROBIN AMSTER
Qatar Looking to Ramp up Inbound US Tourism CruiseOne, Dream Vacations & Cruises Inc. Partnering with David’s Bridal
U.S. Edition
NEWS
MAGAZINES
Trump Presidency Travel Ban
OFFERS
VIDEO
Travel Intel
OPINION
Terrorism Hits Home
SUPPLIERS
U.S. Edition
Deals Alert!
DESTINATIONS
Last updated: 12:11 AM ET, Sat April 15 2017
APRIL 2017
Top-Flight Families A luxury survey paints a picture of the rapidly expanding market for affluent families VACATION AGENT | TRAVEL AGENT | ROBIN AMSTER
PHOTO: The survey found that millennial and gen‑x parents see less separation between activities for kids and those for adults.
VACATION AGENT MAGAZINE A version of this article appears in print in the April 2017 issue of Vacation Agent Magazine.
The general impression for some time now has been that the luxury family travel market is flourishing – yet there has been a dearth of research to
SUBSCRIBE
corroborate that perception. Until now. Carmen Sognonvi, founder and publisher of the online resource Top Flight Family, created a survey to profile affluent family travelers, including their travel habits, preferences and spend.
YOU MAY ALSO LIKE
Sol Melia to Open Two Paradisus Resorts in Playa Del Carmen FEATURES & ADVICE
Tourism Tasmania Names Mayell Chief Executive PEOPLE
The findings paint a picture of one of travel’s fastest‑growing segments, said Sognonvi, who launched Top
PhoCusWright Survey: More Travelers View Airlines in... FEATURES & ADVICE
Flight Family last spring as a resource for affluent parents who travel with their children. “There have
So, Where Does United Go From Here? RICH THOMASELLI
Seabourn Encore: The New Ultra-Luxury Cruise Ship People Can’t Stop Talking About ART KRAMER
Vacation.com Adds Leisure Connect to Preferred Suppliers TRAVEL AGENT
always been wealthy families who take vacations, but what’s new is the
LATEST TRAVEL OPINIONS
Barbuda's Lighthouse Bay Resort Offers Increased Commission HOTEL & RESORT
Style and Swank Reimagined at The Jazz Playhouse BRIGETTE FOLSE
TRENDING IN TRAVEL tremendous growthTrump in thePresidency amount Travel Ban
of Travel Intel
luxury family travel,” she said.
NEWS
MAGAZINES
OFFERS
VIDEO
OPINION
Terrorism Hits Home
SUPPLIERS
Deals Alert!
DESTINATIONS
1
2
3
It found that respondents spent about $1,500 per person per vacation. With an
Several factors account for the surge in luxury family travel. “Generally
Travelers Ditched Nearly $900,000 at TSA Checkpoints Last Year AIRLINES & AIRPORTS
4
means affluent households spend more than $23,000 per year exclusively on family travel.
Fans Weigh in on Royal Caribbean's Dress Code Flip Flop CRUISE LINE & CRUISE SHIP
years and household incomes of more than $100,000 a year.
average household size of 3.9 and an average of 4.1 trips taken per year, this
This Italian Island Has a Scintillating Sexy Past DESTINATION & TOURISM
The survey, conducted online between Oct. 8 and 24, 2016, is based on responses from 362 residents in 42 states with children under the age of 17
U.S. Edition
MOST READ
Pilot Arrested, Flight Delayed Over Loaded Gun AIRLINES & AIRPORTS
5
United Kicks Off Couple On Way To Destination Wedding AIRLINES & AIRPORTS
speaking, parents are having children later in life, and by the time they do have kids they are a little more affluent than their own parents,” Sognonvi said. “They don’t want to compromise their lifestyle.” Sognonvi also cited the influence of millennials. “A lot of millennials are parents now and they value experiences over possessions,” she said. “Being able to travel with their kids and expose them to those experiences is something they value. Millennials’ budgets might be smaller but as more have kids and get older, their mindset and value system will carry over into the luxury space.” Additionally, parenting styles of millennials – as well gen‑xers – are a factor. “There’s a real change in parenting styles,” Sognonvi said. “Generally millennial and gen‑x parents see less separation between activities for kids and those for adults.”
LATEST TRAVEL NEWS Renewed Calls for Passenger Rights After United Incident TRAVEL AGENT
Although beach vacations ranked high with affluent parents, at 24 percent, they were nudged out of the top spot by activity and adventure travel, at 27 percent;
Meet Trapper Martin, LGBT Travel Specialist
followed by visiting family, 18 percent; visits to major metropolitan cities, 9
TRAVEL AGENT
percent; and camping, 8 percent. “I suspect the older the kids, the more adventurous the family can get,” said Sognonvi. “An interesting challenge for travel agents is how they can incorporate more adventure, even for families with younger kids. It doesn’t have to be a full‑on safari, for example, it could be ziplining.” Among the survey’s other findings: The most popular reason for traveling with kids, at 35 percent, was to bring families closer, followed by enrichment education, 23 percent, and visits to relatives, 20 percent. Hotels, at 60 percent, were the top choice for vacationing families, and affluent parents also aren’t afraid to book high‑end properties. Nearly half, 43 percent, have had their child stay with them at a five‑star hotel or resort. Not surprisingly, domestic destinations accounted for the majority of affluent family travel, but as family income increased, so did the number of international trips. Families with household incomes of $400,000 and up were seven times more likely to travel internationally than those with incomes of $100,000 to $149,000.
Carnival to Host US Bus Tour for Travel Agents TRAVEL AGENT
High Praise for State Department's New Travel Agent Website TRAVEL AGENT
New Survey Reveals Agent Labor Trends and Regulations TRAVEL AGENT
TRENDING IN TRAVEL Presidency International travel Trump was also more Travel Ban
Travel Intel Terrorism Home Deals Alert! common for parents withHits older children.
Parents with kids 13 and older were twice as likely to travel abroad as those
NEWS
MAGAZINES
OFFERS
VIDEO
with children 5 and younger.
OPINION
SUPPLIERS
DESTINATIONS
The survey’s takeaway for agents? “Luxury family travel is potentially a very lucrative market and it’s poised to grow, so if you can make it one of your specialties and master what affluent parents are looking for, it’s a great way to grow your business,” said Sognonvi. For a copy of the survey, go to topflightfamily.com/luxuryfamilytraveler2016.htm. VIRTUOSO’S TAKE ON THE LUXURY FAMILY TRAVEL MARKET Family travel is a powerful trend for agents who specialize in luxury travel. In Virtuoso’s Luxe Report, luxury advisors placed multigenerational travel as the No. 1 or No. 2 top trend for the past three years, while travel with the immediate family was in the top six trends, according to Cece Drummond, managing director, destinations and experiences, for the luxury travel network. “Luxury family travel is definitely a growing segment for our advisors,” said Drummond. “Time is not a renewable resource, so luxury travelers want leisure time to spend with loved ones. It’s not about things; it’s about valuing experiences rather than objects.” Drummond pointed two compelling concepts related to family travel from Virtuoso CEO Matthew Upchurch. Upchurch’s “Journey to Global Citizenship” promotes travel as a way for parents to forge family bonds and transform their kids into global citizens by exposing them to other cultures. His “Return on Life” concepts asks why advisors shouldn’t provide a future travel plan for consumers in the same way that financial planners map out their future finances. That means parents with newborns can formulate a family travel plan for each stage of their child’s life. “With long‑range plans, parents have something to dream about and plan for, while advisors have the opportunity to make life‑long clients,” Drummond said. Share on Facebook
Share on Twitter
Email this Story
For more TRAVEL AGENT NEWS MORE BY ROBIN AMSTER
Qatar Looking to Ramp up Inbound US Tourism CruiseOne, Dream Vacations & Cruises Inc. Partnering with David’s Bridal
U.S. Edition
