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Today's travelers are in search of a new kind of luxury, according to Fairmont Hotels & Resorts' Luxury Insights Report.
The study set out to uncover guests' motivation for staying with Fairmont, a Canada-based hotel operator boasting a vast portfolio of luxury and historic properties.
The report points to a trend in travelers seeking out historic hotels based on an emotional connection, revealing that luxury travelers value place identity, or the psychological unification with history.
Other key findings of the report include the emerging trend of cultural immersion and the value of experience over commodity. That's to say that more than ever travelers are looking to make memories rather than simply consume material goods and services.
Interestingly, the study uncovered that more than one in four U.S. international travelers consider themselves "sophisticated explorers" whose top travel motivation is "exploring new cultures and their traditions while on vacation."
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Fairmont also found that 38,000 "history lovers" stayed at more than one of its historic properties in 2015.
"Luxury guests are not only looking for warm and engaging service when traveling to world-class destinations, they are also following their hearts," Fairmont Brand vice president Jane Mackie said in a statement. "...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."
"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," Mackie added.
Click here to view the complete 22-page report.