Open in a new windowThe travel industry has emerged as one of the major winners of the pandemic era. From the moment the lockdown was released, tourists were exotic and flocked to both domestic destinations. This was more than supplementing the lost time. Many surveys on spending habits have shown that customers are piloting expenditures from tangible products to all kinds of experiences.
Marriott International has stamped more than 9,000 real estate in 142 countries over more than 30 brands, and has rapidly evolved the approach to hospitality to satisfy this new demand. It’s not as true as the luxurious department of the company. All income -level customers traveled more than Cobid, but the explosion of sightseeing among wealthy people proves the most permanent. What these tourists want is also changing. Many are currently approaching travel. The hotel is no longer a sleeping place, but an essential part of the experience. For highnet travelers, this means luxury restaurant, personalized experience, and high -touch hospitality.
Marriott is in the rapid IN of the rapid expansion of a gorgeous property, and will open a 245 luxury hotel under brands such as St. Regis, Ritz -Carlton, and JW Marriott as of the third quarter of 2024. 。 The company has also succeeded in pushing to new high -end hot spots such as India and hospitality, such as yacht cruises and comprehensive resorts. Luxurious traveler. Marriott also plays a more active role in forming a customer stay through retail partnerships and resorts built around adventures.
BOF: A few years after the lockdown was released, we saw this big travel, almost all prices, all destinations. In a specific segment, we have returned normally and even have seen signs of deceleration. How are you looking at the high end of the market?
Tina Edmundson: In the market like the United States and in China, there are definitely some normalization. We continue to see huge demands and numbers in other regions in the world, including countries such as India, all Europe, and the Middle East.
Even in the luxury, super luxury seems to have never been affected. If you do so, they are on the struggle.
As a whole, I think that the number of gorgeous trips is still increasing. We think that customers continue to trade products and goods to have experience. Travel is a wonderful canvas that can do it.
Customers continue to trade products and goods to gain experience. Travel is a wonderful canvas that can do it.
BOF: The lack of Chinese tourists in many international destinations has been a big story since the blockade was released. How does Marriott work to regain those customers?
TE: Luxury travel in China has been alleviated. This is different from Chinese travelers other than China, and there are actually very large pickups. Because they are cautious, short -term reservations can be seen at many inner areas.
BOF: Your CEO has recently said that even a gorgeous sector has signed a sign that travelers will bring back foods and drinks of specific types of spending. How does it appear in your place?
TE: It depends on what the customer is and what they are looking for. After the pandemic, customers who are not necessarily networkers are trading. (But) they are conscious of where they want to use. Yes, they choose a place of 5 stars, but they will be much more surgical where they want to spend money during the vacation. I may have done it twice instead of a 5 -night gourmetless tran.
BOF: For example, there is this huge lamp up at the top of the market, and there is a hotel room of $ 1,000 per night. What is driving, and is there still room to grow with these ultra -height clients?
TE: There was a change in the true way of thinking. (Pandemic) has proved to us that the trip is not discretionary. People noticed that they needed to travel for their happiness. It became basic. They noticed that their lives were too short. Instead of postponing the trip, they converted the bucket list to the To Do List.
When they are doing it, they want to do it in a way to create memories. In the case of a population segment, it means transaction, which means creating these experiences for yourself and for your loved ones. So I saw some things happen. One is that these experiences are high, but you will claim that what you have gained is different from what you have acquired. We are curating your experience for you. It is really another level.
I don’t think it’s continuing to accelerate at the speed that came out of (pandemic). Do you think it is durable? Yes, I think it will continue.
BOF: In that experience, Marriott is experimenting with some new formats, all -crew cibi resorts, and yacht collections. What did you learn from these projects? What else is there in the pipeline?
TE: A part of our mission is to make sure you are in the place where you want to be a physical place or experience. Part of our strategy is to grow our ecosystem, keep (customer), and keep it faithful.
All -inclusive is wonderful. At one point, all inclusive was considered a bad buffet and cheap sake, but our mission is clearly turning it into a head. We opened all the luxurious collections called Armare, just outside Cancun (October). We have signed all of Ritz -Carlton’s subscriptions. Next year, we will open in Pun Takana w Walll-enclusive.
The second yacht, RITZ-CARLTON YACHT, has been released. Again, when you think about cruises, you can come up with what it looks like. We feel like Ritz -Carlton in the sea. About 50 % of our sailing on Ritz -Carlton Yacht are not used to cruises. We obviously attract another consumer, as they want Ritz -Carlton’s experience, but they don’t want a cruise experience.
Another thing we are looking at and what we are acting is that this consumer wants an adventure, and they want a new travel method. A year ago, I launched JW Masai Mara Lodge. It was very good -since then we have signed three RITZ -CARLTON TENTED LODGES and Camps, some other JWs, and luxury collections.
BOF: How do you personalize these experiences?
TE: Technology plays a major role in that. Ability to capture the preferences that customers want to share with us. That way, we will be able to provide a better stay. The second part is the training we do with associate with associations. Make sure they are very enthusiastic about what the guests need, so that they can meet both the expressed needs and the unpallible needs. The third part is that we have the most important customer program. There, the personal ambassador (WHO) should value all your needs.
This is a fun story. There is a gentleman who wants to propose to him (girlfriend), and he wanted to be surprised. So he told her to go to the meeting. The hotel actually sent a meeting material, so I felt completely real. The hotel became this wonderful platform to make him actually propose, and the hotel was with him.
BOF: I was curious if there was a new frontier (personalization) front desk, whether it’s technology, another type of experience you are looking at.
TE: The way we see it is how to use (technology) to remove friction and transaction from the experience. When thinking about AI we think, how can AI make a voice? You can actually talk with the guests and where to go.
BOF: Do you accept the idea that AI may be for customers?
TE: We may be surprised at such progress with AI, but for now (luxurious travelers) are looking for their personal support. What are you really going to get? Can you confirm that the wine you chose is exactly this wine from this year? Do not get it through technology. You have to get it through people.
BOF: Please tell me how Marriott thinks about retail in your facility. What makes a good partnership?
TE: I love the relationship between hospitality and retail. They are very complementary. When people travel, they are much more free. They are not lost in everything that shakes us at home, whether they are children or work. Therefore, they are much more open, much more motivated and happy to use.
When people travel, they are much more free … they are far more open, much more happy, happy, happy, and happy.
It is advantageous for both retailers and hotels. When looking for a partner, we are looking for a brand that suits our spirit. Therefore, ST. What makes REGIS makes sense from what makes it meaningful for JW.
So how are the brand looking for (fit) the guest stay? What we did was ST. REGIS with VileBrequin. We have a broader relationship with them, four or five hotels, capsule collections, and very popular. After that, there is one limited one. Ritz -Carlton Bali in Missoni is actually trying to do a store at a hotel, and they are also beach clubs. That is to make their brands alive.
This interview has been edited and condensed.
This article was published in a detailed report on the global luxury industry jointly published by BOF and McKinsey & Company.
