Walpole: What are the trends you have seen in global travel that affect the London luxury marketplace?
There are several micro trends that have exploded since the pandemic. The first is the rise of multigenerational travellers. It used to be much more common in the East for people to travel in large groups. But during the pandemic, a lot of young people moved back in with their parents and extended families. When borders opened up, they started moving together. Plus, travel became the way people reunited and reconnected post pandemic. Bigger groups need more space – large suites, interconnecting rooms, residences, villas that come equipped with private chefs and 24/7 service. The travel industry is catering to this demand.
Another big trend is wellness; there’s greater focus on F&B, spiritual growth, as well as physical and emotional wellbeing. People want hyper-personalised and curated travel experiences. But most interestingly, it’s the fact that luxury travel hasn’t slowed down in the least since 2021/22. We used to think the ‘revenge travel’ period would cool off, but it still hasn’t – despite the massive rise in airfares and hotel prices, some three times what they were in 2019. It’s gone from revenge travel to simply travelling with a vengeance. Luxury has become so much more about meaningful experiences than trendy products.
Why do luxury visitors come to London?
London is one of the greatest cities in the world. People come here because it feels like a big, bustling, international city with loads of attractions like the museums and theatres. It’s very diverse. You can find ‘your’ people, you can find ‘your’ food, but you can try food and meet people from all over the world. The restaurant scene is a big draw. Specifically, for luxury travellers from the Middle East, India and China, the weather in the summer is a big draw as are the beautiful parks. They enjoy walking around, picnicking, strolling the high streets and shopping. Kids’ activities like Harry Potter World, London Transport Museum and Winter Wonderland are all very popular. Countryside estates like the Four Seasons Hotel Hampshire and Estelle Manor are now an essential part of the trip.
The social calendar in the summer is another main event: Wimbledon, RHS Chelsea Flower Show, polo, Ascot, all of which are unique to the UK. Fashion-themed exhibitions like Cartier and previously Chanel at the V&A are also major attractions.
Over and above that, there is a sense of familiarity and comfort that luxury travellers feel in London – they know the language, it’s easy to get around, the hotels, shopping and restaurants are world-class, and above all you have a network here. Everyone knows someone in London. People congregate here. It will be interesting to see if the figures for visiting friends and relatives change after the recent government policies around non-doms, who will now limit their time in the UK to under 90 days a year.
What should brands be doing to attract international luxury visitors to London now?
Above all, luxury travellers want unique, personalised experiences, so it is imperative that luxury products and brands root themselves in their place of origin and invest in innovative storytelling. If I wander down Bond Street, I don’t see the story of craft or ‘the making of’ in the retail experience of British fashion brands and this is a missed opportunity. We have to work harder to make luxury travellers buy in London versus European destinations where high-value purchases can be significantly cheaper.
There is also great opportunity for travel and hospitality brands to promote other destinations across the UK. It’s something luxury travellers really enjoy but there needs to be greater awareness, and you need to show them where they can go and how to navigate it easily. The UK needs to find ways to keep them here for longer and to spend more – especially as everyone knows it’s only a short train ride to Paris. Why could we not have a ‘tourist office’ in Bond Street or Sloane Street?
How do you find the ‘service’ side of London?
Global travellers are often used to very high levels of service, and the notion that the customer is always right – or even, in some parts of the East, that the Guest is God. You can get things done 24/7 for a price in cities like New York or Dubai and they expect it here, too. Simple things like late-night eateries and late-night shopping in the summer would be great. I remember looking for a service to set up a gorgeous picnic in Regent’s Park one sunny Saturday morning but couldn’t find one. And while grabbing sandwiches and drinks at Pret have their own charm, I would have loved to have given my family a lovely surprise by showing up to find a beautiful set up with a spread of caviar, salmon and champagne. Or even an afternoon high tea. Why not?
