Diamonds: Luxury resorts, the holidays, and the human race
Luxury vacations are still a hot topic, and it’s becoming more popular to be in a luxury resort, according to the latest research from the Luxury Hotels & Resorts Institute.
The research, released Wednesday, shows that luxury resorts are not only a growing trend, but a lucrative one.
While resorts like the resort of Malibu and the luxurious Marriot in New York may attract visitors of all ages, the trend is most popular among those in their early to mid-20s, according the study.
“People are starting to think that they could get away with a vacation for the rest of their lives,” said Lauren Mott, research director for the institute.
The study also shows that the percentage of Americans who are spending more than $2,000 a night on a luxury vacation is up nearly 5 percentage points from 2016. “
When they see a luxury property like the Marriot, it’s like, ‘Wow, I’m really going to have a great time here.'”
The study also shows that the percentage of Americans who are spending more than $2,000 a night on a luxury vacation is up nearly 5 percentage points from 2016.
The trend has continued, with the number of Americans saying they are spending at least $1,000 per night in a resort in the past year up nearly 7 percentage points, from 3.4 percent in 2016.
“I think we’re seeing that a lot of people are beginning to look at the luxury vacation as a viable way of staying in the U.S.,” Mott said.
“For some, the idea of spending a little more money is enticing, and for others, it might not be appealing.
The more that people think of luxury vacations as a possibility, the more they’ll likely take advantage of the opportunity.”
The study found that the average cost of a one-night stay in a $1 million luxury resort rose 6.6 percent in 2018, while the average price for a two-nightstay at a resort rose 8.1 percent.
The average price of a three-night resort rose 4.8 percent, and an all-inclusive resort rose 14.6 and 8.2 percent, respectively.
The report found that luxury vacations account for about 1 percent of hotel stays in the United States, but that the vast majority of them are paid for by consumers.
The institute found that people in the age group of 45 to 54 spent more than double the amount of time at a luxury hotel than the same age group spent at a three or four-night hotel.
Among the more expensive resort stays, the majority of the $1.5 million-plus prices paid were for five- or six-night stays, and nearly a third were for seven- or eight-night.