Two general trends are changing the face of meetings and events:
1. Consumers value personal, memorable and special experiences over luxury goods. and
2. Personal health and wellness are even more important than work.
These factors reflect major and steady changes in how people want to live. According to a recent study by Deloitte, 84 percent of employees consider improving their well-being to be a top priority, and 74 percent say their well-being is more important than career advancement. Work is the biggest obstacle to achieving your health goals. Respondents cited stressful jobs, long hours, and hard labor as obstacles to their physical and mental health.
Meeting industry reaction
Meeting planners can’t make people’s jobs easier, but they can improve the typical event experience. Participants want experiences that meet their business and personal needs, rather than completing grueling tasks fueled by sugar and alcohol. They want to go home informed and refreshed, not burnt out or hungover.
How can meeting planners and suppliers respond? Northstar Meeting Group’s newest sponsored buyer event, Luxury & Wellness Meetings, will be held from September 29th to October 1st at VEA Newport Beach, California. , was designed to research and educate stakeholders about these complementary trends and connect buyers and suppliers. We offer a high-end, exceptional experience in an environment that supports your health goals.
Following the success of the sold-out show, Northstar has announced plans for two additional Luxury & Wellness-sponsored buyer events in 2025: Luxury & Wellness Meeting – Winter, February 19-21 in West Hollywood; It will be held at the West Hollywood Edition. California; and Luxury & Wellness Meetings – Summer, July 28-30 at Opal Sol in Clearwater Beach, Florida (If these dates don’t work for you, Northstar has plenty of other events )
Fast-growing luxury travel industry
The burgeoning luxury hospitality market is also responding. Luxury travel spending is expected to double over the next six years, reaching nearly $2.3 trillion in annual revenue worldwide by 2030, according to research from Grandview Research.
Wealthy consumers are driving that growth by prioritizing experiences and travel over luxury goods. According to UBS, global wealth is expected to increase by 38% to $629 trillion by 2027.
More luxury hotels are pricing their products accordingly. According to research by CoStar, the number of hotels with room rates over $1,000 per night has increased dramatically worldwide. In the first half of this year, 460 hotels had four-digit room rates, up from 150 hotels in the first half of 2019.
Deliver an outstanding experience
Given this situation, demand for luxury travel is expected to grow faster than other travel sectors, said Marriott International Luxury Sales, a featured speaker at a recent Luxury & Wellness Meeting event. – said Jaime Mench, Vice President of Distribution.
Discerning travelers, particularly among Millennials and Gen Z, want unique, personalized and special experiences, Moench said. “Luxury consumers are looking for things that are rare and very hard to find,” she added. “It’s difficult, but essential to providing excellent guest service.”
Clientling: The key to long-term relationships
According to Moench, the most effective way to drive engagement is to anticipate guest needs. To achieve this objective, Marriott adopted the concept of “clienting”. It borrows lessons from successful luxury retail brands that excel at building and nurturing long-term relationships with their top customers through personalized interactions and experiences.
“Using a clientling approach allows us to go beyond the transactional and functional parts and build deep, lasting relationships with our clients,” she explained. This strategy relies on customer relationship management (CRM) software, detailed customer profiles, analytics, a customer-first mindset, proactive engagement efforts, and customer-only events.
Wellness as a natural extension of luxury
Top-tier hospitality brands are increasingly incorporating wellness into their luxury offerings. We aim to provide an oasis for mind and body, with an emphasis on healthy eating, drinking, movement and nature.
Many restaurants are expanding their menus to include locally sourced ingredients to accommodate a variety of diets, including plant-based and gluten-free options. And with 38% of adults cutting back on alcohol, many are adding zero-proof drinks to their bars.
Sources say that as the industry continues to adapt, blending luxury and wellness is likely to become the standard expectation rather than the exception in high-end event planning.
Source: Northstar Meeting Group
