The second day at ILTM started with a breakfast at the JW Marriott Cannes, where Tina Edmundson, president of luxury at Marriott International, delivered an optimistic outlook on the future of luxury hospitality. According to Edmundson, we’re entering “a promising new era fueled by financial growth, emotional fulfillment and evolving luxury consumers.”
Global wealth grew by 4.2 percent in 2023, and luxury travelers are spending big—60 percent of leisure budgets exceeded $40,000 last year, with 84 percent of travelers planning to maintain or increase that spend. High-net-worth individuals (HNWIs) already contribute nearly 70 percent of luxury travel spending, and as this group expands so does their influence. But here’s the twist: it’s not just about the ultra-wealthy. Aspiring luxury travelers—35 percent of whom have a net worth under $1 million—are responsible for half of all luxury sales and are projected to drive spending to $1.7 trillion by 2028.
Millennials and Gen Z are reshaping the market, too, as they're expected to account for 80 percent of luxury sales by 2030. These younger consumers prioritize purpose, self-discovery and share-worthy experiences; 40 percent actively seek unique trips their friends haven’t done yet. Edmundson also spotlighted women’s growing purchasing power; they’re three times more likely than men to splurge on luxury goods.
Wellness is becoming the ultimate luxury, she added, with 65 percent of travelers viewing self-care as essential. It’s no longer just about spas—luxury consumers want local, holistic experiences like learning Ayurvedic practices in India or savoring the Mediterranean diet in Italy. Meanwhile, adventure travel is booming, growing 18 percent since 2019 and set to become a $1 trillion market by 2025. Marriott is diving in, with over a dozen luxury tented camps signed in Africa and beyond.
Marriott’s focus on connection extends to private member spaces, all-inclusive resorts, and even its Ritz-Carlton Yacht Collection, which will launch its third superyacht in 2025. Edmundson also teased bold collaborations with brands like Valentino and Sotheby’s, partnerships that inspire younger audiences and keep Marriott at the forefront of luxury innovation. With 245 luxury hotels in the pipeline and 30 set to open next year, Marriott is moving ahead at an epic pace.
Press Conference Highlights
Aman COO,Ben Trodd detailed the brand’s continued evolution, coming off its best year on record, showcasing ability to expand while maintaining exclusivity. Trodd emphasized Aman's focus on gateway cities to grow its client base. Aman New York alone has introduced 9,000 new guests since opening. Upcoming projects include Amanvari in Mexico, complete with 18 hotel rooms and 48 residences, and Aman Nai Lert Bangkok, opening soon with 52 suites and a 15,000-square-foot wellness center. Younger sister brand Janu, which debuted in Tokyo in March 2024, is already making waves, with 75 percent of guests new to Aman. With 12 more properties in development, Janu is positioning itself as a vibrant, community-focused counterpart to Aman’s tranquil luxury retreats. In addition to land-based properties, Aman is entering new waters with Aman at Sea, a 50-suite yacht set to launch in Q2 2027. Designed for the charter market, the yacht will provide access to exclusive ports, catering to the rising demand for unique, experiential luxury travel.
Mandarin Oriental is doubling down on its expansion plans, aiming to grow from 41 to 100 properties over the next decade. Alex Schellenberger, global senior vice president of brand, emphasized the group’s appeal to younger, affluent travelers through a blend of heritage, immersive design and culinary excellence. Recent openings like Mayfair in London and Riyadh will be complemented by the expansion of Mandarin Exceptional Homes, a collection of exclusive residences set to grow from 25 to 100. These developments showcase the group’s commitment to blending privacy and premium services to meet the expectations of a new generation of high-net-worth guests.
Pan Pacific Hotels Group Senior Vice President Craig Bond, shared the company is investing over $500 million to redefine "graceful luxury" across its portfolio. The Pan Pacific Singapore reopened after a $30 million renovation, now featuring what the brand calls the "world’s best club lounge," with 360-degree city views. In Jakarta, the new Pan Pacific property stands as the city’s tallest luxury hotel. Additionally, the group has expanded into Europe with Pan Pacific London, which opened in September 2021. Located near Liverpool Street Station, this 43-story tower offers 237 guestrooms, including 42 suites, and houses a 60-foot infinity pool, a dedicated wellness floor and the largest ballroom in the area. Pan Pacific London has already earned Forbes Travel Guide's coveted five-star rating for three consecutive years, cementing its place as a leader in the competitive London luxury hotel market.
Ponant continues to lead the way in small-ship luxury expeditions, blending exploration with sustainability. Hervé Gastinel, CEO and cahief sustainability officer, highlighted the brand’s fleet of 14 vessels, including the refurbished Paul Gauguin and the pioneering zero-emission ship set to launch by 2030. Gastinel credited Ponant’s French heritage as a key differentiator, offering "unparalleled" experiences to destinations like the North and South Poles, while maintaining a strong commitment to sustainable travel.
Accor's Sébastien Bazin, chairman and CEO, emphasized the company’s bold vision for growth, driven by the rising middle class and evolving luxury travel trends. While the hospitality sector is growing annually at 3 to 5 percent, Bazin predicts Accor will outpace this, achieving 6 to 7 percent growth in the coming years. He identified India as a significant market, projecting that infive to seven years, two-thirds of the population will belong to the middle class, with 150 million Indians traveling.
The big news centered around the revival of the Orient Express brand. The Orient Express Silenseas, a 720-foot yacht debuting in 2026, represents a strategic shift for Accor, catering to ultra-high-net-worth travelers with charters priced at $7 million per week. Initially reserved for private bookings, the yacht will later open to individual travelers, stopping at destinations like Monte Carlo, Nice and Saint-Tropez. On land, La Dolce Vita Orient Express train will launch in spring 2025 with eight Italian itineraries, design by Italian icons and cuisine by three-Michelin-starred chef Heinz Beck.
The expansion also extends to hotels, with the first Orient Express properties set to open soon. La Minerva in Rome is scheduled for 2025, followed by Palazzo Donà Giovannelli in Venice in 2026. These developments reflect Accor’s commitment to blending timeless elegance with modern luxury, cementing its leadership in the high-end travel space.
Indian Hotels Company Limited's Parveen Chander Kumar, EVP, commercial, shared updates on Taj Hotels, the jewel of the Tata Group’s Indian Hotels Company Limited, blending soulful indulgence with timeless heritage. With over 100 properties and 20 more in development, Taj’s footprint spans iconic destinations like Rajasthan, Kerala, Goa, and the North East, offering everything from luxury safaris to landmark hotels.
One standout initiative is "Woyage," an adorably named program designed for solo women travelers. With a focus on safety, comfort, and thoughtfully curated experiences, Woyage taps into the growing demand for women-centered travel. Equally innovative is "Carecations," which combines travel with purpose, giving guests the chance to engage with UNESCO World Heritage sites in meaningful ways.
Driving its growth story, Taj recently added three new brands. The Gateway offers full-service luxury for modern travelers, while Tree of Life focuses on boutique properties with just 30 rooms, spotlighting local culture and personalized service. Meanwhile, the Taj Paathya program underpins IHCL’s dedication to sustainability and responsible tourism. Kumar’s presentation reinforced Taj’s ability to evolve with traveler demands while staying true to its core values of trust, authenticity, and joyful experiences.
Virtuoso 2025 Luxe Report
Virtuoso CEO Matthew Upchurch shared new data from the 2025 Virtuoso Luxe Report, highlighting emerging trends shaping luxury travel, this year revealed an emphasis on transformative experiences and meaningful connections. Travelers are prioritizing exploration, personal growth and value-driven adventures, with luxury travel spending expected to rise. Millennials and Gen Z are driving these changes.
Key findings include the rise of "Ice-olated Escapes" to destinations like Antarctica, "Sailing Solo" cruises that offer flexibility and camaraderie, and "Born to Be Mild" adventures combining wellness and activity in places like Bhutan and Costa Rica. Culinary travel is also booming, with food tours and immersive dining experiences taking precedence over traditional meals. Italy, Portugal, and Greece dominate top destinations, with family travel, milestone celebrations, and adventure cruising among leading travel motivations.
Upchurch underscored the value of trusted travel advisors in navigating these trends, citing what he calls the "Millennium Mantra: Of course I can do it myself. I don’t want to. I don’t have to."
The day ended in dazzling style with a dramatic drone show over the Mediterranean, viewed from the stunning Katara Suite atop the stunning new Carlton Cannes. IHG’s SVP of Luxury, Lifestyle, and Premium Brands Jane Mackie took the spotlight—literally—illuminating the sky with images inspired by the company’s latest opening, the Regent Santa Monica.
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