Earlier this month, I was invited to speak virtually at the Eco Resort Summit hosted in Slovenia. As I prepared for my virtual presentation, I had the chance to reflect on the current state of the travel industry, and the challenges and opportunities that lay ahead.
When I founded Luxury Frontiers in 2011, the travel industry was in a markedly different place from where it is now. The 2008 financial crisis had accelerated the transition from the commodification of travel and hospitality—a mindset characterized by consumption and checking off items on a bucket list—to a focus on experiences as the “new” luxury. And yet, most travel companies failed to acknowledge this change or shift their business models accordingly.
We at Luxury Frontiers sensed just how seismic this shift was and helped pioneer a model of experiential hospitality, which, 10+ years later, is now considered the “status quo.” But consumer behaviors are constantly changing, and experiential travel has since adapted and evolved. In recent years, we’ve seen the rise in transformational travel and awakening around sustainability matters. Now, in the aftermath of the COVID-19 pandemic, consumer behaviors are once again in flux.
Where we’re headed next? As I spoke about in last week’s Eco Resort Summit, sustainability isn’t enough. We believe the next few years will bring about the rise in regenerative travel, the rewilding of natural environments, and the growth of impactful hospitality. We need impactful solutions that restore imbalance at every level—between guests and their built environment, natural environment, their hosts, and the wider community—while at the same time promoting empathetic interaction between guests and locals. You can think about this new era as a powerful culmination of previous waves in consumer behaviors. Even the most traditional hotel brands and capital markets are seeking to serve this evolving consumer demand. Ultimately, the opportunity is huge for travelers, brands, and investors in this space to positively impact destinations at every level, creating a feeling of newfound commitment, sensitivity, and wonderment toward the world.
In an ever-evolving industry, we at Luxury Frontiers are committed to bringing innovative and impactful hospitality offerings and concepts to the market. We are excited to share what is coming next for us, as we continue to help brands stay one step ahead of the curve.
Thank you for being a part of this evolution.
- Luca Franco, CEO & Founder
Learn more by watching my presentation from the Eco Resort Summit.