According to Virtuoso,prices for travel are not expected to go down by the fall and festive seasons this year. The luxury network announced its booking and sales data at its 35th annual Virtuoso Travel Week, which took place this week in Las Vegas.
But this hasn’t affected client demand to travel. Recent data reveals that sales and bookings are up, compared to 2022.
For this year’s fall travel season, sales are up 47% year-over-year, while bookings are up by 36% for the same period. For the festive season (defined as Dec. 15 – Jan. 7), sales and bookings are up by 17%, compared to last year.
For the festive season, hotel prices in some locations have gone up, while prices are lowering in other destinations. Virtuoso shared that average daily rates (ADRs) at its preferred resorts in Hawaii have gone up by 29.6%, while rates in Mexico have gone up by 18.7%. On the other hand, festive hotel rates at Virtuoso properties in the Caribbean have decreased year-over-year by 9.7%.
The Top Destinations for Fall Travel
For Americans, the top destinations for fall travel include:
1. Italy
2. The United States
3. France
4. The U.K.
5. Mexico
Globally, the top destinations for fall travel are:
1. The U.S.
2. Italy
3. France
4. The U.K.
5. Mexico
6. Greece
7. Spain
8. Canada
9. Ireland
10. South Africa
The top cities among travelers include Paris, London, Florence and Rome in Italy and New York City. Travelers are willing to pay more for these cities, with ADRs up for each city (between 11% to 37%).
For travelers seeking value, Virtuoso suggested Cabo San Lucas, Mexico; Athens, Greece; and Palm Beach, Fla., which all have seen decreased ADRs, from -.6% to -15%.
The Top Destinations for the Christmas/Festive Season
The most popular locations for festive season among Americans are:
1. The U.S.
2. Mexico
3. France
4. Costa Rica
5. Anguilla
Globally, the top destinations for festive season are:
1. The U.S.
2. Mexico
3. Costa Rica
4. Thailand
5. Anguilla
6. Turks and Caicos
7. Bahamas
8. St. Barts
9. The U.K.
10. France
The top cities for the holiday season are Cabo San Lucas, Mexico; the Kohala Coast/Kauilua-Kona on Hawaii Island; Providenciales in Turks and Caicos; Wailea on South Maui; and London. Each of these locations has seen soaring ADRs since last year, ranging from 8% to 54%.
For value seekers, Virtuoso is suggesting New York City, Vail, Colo. and Los Angeles, which have all seen decreased year-over-year ADRs, from -8% to -50%.
