Millennials – the luxury generation

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Generation-Y

Every generation has different ideas and tastes when it comes to holidays. Once the very idea of going away was a novelty, the sort of thing that saw crowds of working-class Britons flock to seaside resorts on bank holidays. After the introduction of holiday with pay in the 1930s, longer periods away from work were possible, but it was not until the second half of the 20th century that travelling overseas became normal.

By the time Generation Y came along, the whole world had come within their compass, although some particularly exotic locations were still seldom visited. The willingness to break new frontiers and explore places ‘off the beaten track’ is one notable feature of Millennial travel, but it is far from the only one. Millennials are keen on quick gratification, tend to have more money and are more tech savvy, all of which manifests in their tastes when it comes to travel accommodation. While a previous generation might have been happy to make do with budget accommodation, Millennials want more luxury.

Research has repeatedly shown that this demographic not only uses technology such as mobile and the internet when making bookings, but anticipate that high-tech services will be provided. Internet access, Wi-Fi, satellite TV and the ability to order and receive goods and services quickly is a norm for the millennial lifestyle, so they will certainly expect the same when staying in a hotel. Luxury extends to other areas. Extras like dry-cleaning, spa treatments and even pet-friendly hotels are all highly popular with this group. To understand why this is, consider another aspect of this group. Millennials spend significantly more of their time and money on travelling than previous generations, and they also tend to have more money to start off with.

Indeed, the majority will actually spend more money on holidays than goods, with the emphasis more on experience than ownership. This economic and cultural development may be interesting in itself from a sociological perspective, but the key to understand is that Millennials want good value from a bigger spend than older generations. It is a marked contrast from the past, where low-cost sun and sand holidays were enough for most. While Millennials do like to travel far and wide, that does not mean they won’t enjoy ‘staycations’. Indeed, this form of holidaying is popular as many enjoy the good things nearer to home.

This may be motivated by green considerations for some, but others might save the money on travel costs and thus require more from hotels. So whether your hotel is catering for Millennials from 100 miles away or 3,000, be sure to offer quality, luxury and value in abundance.

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