NEW YORK CITY, NY – Fairmont Hotels & Resorts today released key findings from its Luxury Insights Report: Stewardship of Iconic and Historic Buildings, part of a new series of research-led, data-driven reports focused on current trends in luxury travel.
This inaugural volume reveals the vital importance of emotional fulfillment, place identity (the psychological connection to a destination) and cultural immersion in the decision-making process of luxury travelers worldwide. Fairmont’s first Luxury Insights Report explores the role of architecture, property development, and thoughtful preservation and restoration as emotional drivers that influence purchase decision.
“Luxury guests are not only looking for warm and engaging service when traveling to world-class destinations, they are also following their hearts,” said Jane Mackie, vice president, Fairmont Brand. “The emotional connection guests feel to each of our hotels is unique — whether it’s finally crossing off a bucket list trip, exploring a new destination, or celebrating a milestone event. This industry-leading research demonstrates that the choice of a Fairmont hotel, be it historic or newly developed, often provides the sense of place and personal connection luxury travelers crave.”
Fairmont’s Luxury Insights Report, which incorporates research and insights from multiple sources, including a brand-first ethnographic study conducted by Weinman Schnee Morais Inc. and data from market research firm YouGov, shows that guests choose a historic destination to make an emotional connection. In fact, many feel that historic hotels offer unique and ownable emotional benefits due to their ability to evoke “place identity”.
Additional report highlights include:
• Place Identity : the psychological merging with the past; hotels with rich histories enable guests to feel like they are part of something meaningful, important and enduring.
• Experience over Commodity : aligning social status with the consumption of experiences rather than material goods — luxury redefined; transforming “luxurious” travel from simply being pampered to creating unforgettable memories.
• Cultural Immersion : a new type of cache amongst travelers; “I stayed at the Fairmont” is a clear demonstration of immersing oneself in culture, experience and history.
• History Lovers Repeatedly Choose Fairmont : in 2015, 38,000 “history lovers” stayed at more than one of Fairmont’s historic properties.
“Our Luxury Insights Report reveals a decisive link between travelers and their emotional connection to historic and iconic hotels and the destinations in which they reside,” added Mackie. “As a globally recognized leader in the stewardship of these landmarks, as well as the luxury operator of many new hotels that have already established themselves as the icons of tomorrow, it is our mandate to not only understand the experiences our guests desire, but to preserve and develop the properties that act as a catalyst for so many unforgettable moments.”
“As we search for new ways to bring our brands to life, we continue to develop deeper insights around the importance of our guest expectations and experiences,” said Alexandra Blum, vice president, public relations and partnerships. “The Luxury Insights Report findings are a tangible way to demonstrate this knowledge and help to guide our overall product, positioning and communications narrative.”