Virtuoso hosted its first event of the year, the annual U.S. and Canada Forum, February 2-4, 2021. Three-hundred-fifty attendees tuned into the sold-out virtual event, which included more than 2,700 one-on-one networking appointments, professional development, an update from Virtuoso chairman and CEO Matthew D. Upchurch and more.
"As an industry, we've been through the toughest days we've ever faced, and we know to get to the other side, we have to work together; ours is an interdependent business and we need each other," said Upchurch.
"If you look beyond the challenge, the opportunity ahead of us is immense, to come back stronger. As always, the customer sits at the center and determines our fate, but all indicators are that people want to travel again, with 93 percent of our clients saying they will never take traveling for granted again. And whenever there is a major disruption, it actually helps our profession. People refocus on the value of working with a travel professional, and we're seeing more consumers than ever seeking out Virtuoso advisors as a result."
Virtuoso's senior vice president of global partnerships Albert Herrera noted in the Opening Session that, while spending fell in 2020, American's personal savings have increased 173 percent over 2019 (according to The New York Times). He also pointed out that there is pent-up emotional demand to get away, particularly for Virtuoso's luxury clientele.
Greater financial means and a pent-up desire to get away are also coupled with an increased appreciation for the benefits of a professional travel advisor. Virtuoso's research bears this out. Eighty percent of respondents to a recent survey said that they were confident about business returning this year.
Virtuoso advisors said that almost half of their daily business is new bookings, with 10 percent of clients using travel credits and a full 38 percent being business with full revenue.
Poised for a recovery, Virtuoso senior vice president of marketing, Helen McCabe-Young, presented a strategy based on building strength in the host agency's brand, increasing global public relations efforts.
McCabe-Young also noted that 2021 marketing will focus on enhancing data and insights, segmentation, targeting and reporting to deliver marketing programs that support member and partner business goals.
Virtuoso will optimize content that resonates emotionally with clients in Virtuoso Life and on Virtuoso.com and evolve existing products, such as its legendary Best of the Best hotel guide and Virtuoso Wanderlist.
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