We Attended INSPIRE to Get Inspired

By Amy Colbourn, Managing Director, Business Strategist at MONOGRAM

There is a widespread belief that having a sense of adventure leads to a richer, more fulfilling life. Adventure can be a lot of fun, but it also promotes personal growth, enhances mental and physical health, builds meaningful connections, and provides a broader perspective. The only way to grow is by getting out of your comfort zone.

An interesting trend emerged this year. Instead of selecting a place to go and deciding what to do there, travelers first determine what they want to do and then choose where to go. The promise of an adventure drives travel decisions, and travelers can find it in many ways and places.

Getting a Pulse on the Industry Going into 2025

A conference isn’t complete without takeaways that can make our marketing approach smarter. While many of the topics and data points sought to affirm many things we believe to be relevant to the industry, specifically today’s hospitality marketers, we also dialed into some of the nuances that define our approach to the luxury market.

ONE – Be Where the Consumer Wants to Be

Meeting consumers where they are means understanding who they are and what’s important to them. As we enter the “interest era,” we’re reminded that our mindsets align us as consumers more than our generation or age group.

Don’t bracket by age. Do segment by drivers.

TWO – Create Energy You Want to Be a Part Of

Hotels offer the perfect community outlet and gathering space for locals. As travelers seek to find experiences that lean into the local vibe, hotels can use that opportunity to become an extension of the community, much like hospitality operates in Asia.

Don’t give them reasons to stay in their rooms. Do accommodate remote workers and make the lobby an inviting space for socializing and coworking.

THREE – Luxury is the Best Segment to Deliver Unique Experiences

You’ve heard it before, and you’ll hear it again. We are in the experience economy, which means much more than just a preference for experiences over things. Consumers want unique experiences. In fact, they find unique experiences of greater value and are willing to pay more for them.

Don’t just offer experiences on property. Do facilitate off-property excursions.

FOUR – Luxury Brands Need to Pay Attention to Younger Consumers

We’re about to experience the greatest wealth transfer in history as Boomers age. Many luxury brands are warming up the younger set to luxury with entry-level offerings such as lobby bars, pool cabanas, and dining experiences. This way, when they enter a new life stage and are ready to spend, their brand is top of mind.

Don’t overlook the younger consumer. Do understand what they’re willing to splurge on.

FIVE – Wellness Has a New Meaning

Luxury consumers don’t necessarily view wellness as a habit abruptly adopted for a week’s vacation. A luxury consumer sees wellness as a way of life. A luxury consumer values quality of life and defines wellness as health and longevity. The definition extends beyond body, mind, and spirit. It’s more than healthy food choices. That’s just table stakes.

Don’t tout table stakes as a differentiator. Do promote social wealth as an aspect of wellness.

SIX – Local Appeal as a Revenue Driver

There’s a shift from focusing on room revenue to focusing on total revenue. Hotel ancillary spending has had a more significant impact on revenue performance. Granted, this is a big, complex topic, but it’s also an easy opportunity to target services and amenities to locals while drawing foot traffic from the community.

Don’t forget to appeal to locals as a target audience segment. Instead, make the setting for creating deeper connections.

The Last Word

Luxury hotels have become homogenized. As marketers, being able to identify and lean into the nuances provides us with opportunities to create real distinction. It’s not enough to be different; we must be distinctive to the consumer.

Connect with us to discover more about nuances in hospitality and how to apply these insights to marketing strategies. Contact MONOGRAM today to schedule a complimentary brand consultation with our team.