The 30th annual Virtuoso Week kicked off in Las Vegas Sunday with some strong numbers: 6,071 attendees from 100 countries were present and taking part in an astounding 330,000 independent meetings during this time.
"We call it the 'Fashion Week' of travel," said Teri Hansen, senior vice president of marketing at Virtuoso. "And that is exactly what it is - it's not a conference, it's the travel event of the year showcasing trends and news affecting this industry."
Top of mind for travel advisors was not only the focus on selling the passion and selling transformative experiences but also making sure there is something to sell to the children now who will become ardent travelers later - and that is sustainability.
That value, along with diversity, advice, accessibility, advocacy and accountability, contributes to what Matthew Upchurch, Virtuoso chairman and CEO, believes sets Virtuoso apart. Clients are asking for it and advisors are able to deliver as they contribute to Virtuoso's track record for advancing sustainable tourism principles and practices. These are supported by Virtuoso Sustainable Tourism Leadership Awards and by ongoing development in strategy that promotes sustainability as a way of travel.
The company is in the midst of creating educational sessions and drafting white papers to further the cause and make it more than a passing trend. Virtuoso is hosting its second annual summit this week to bring key executives and travel advisors together to discuss travel as a force for good.
Meanwhile, Virtuoso announced some noteworthy data coming in through its 17,500 network partners. The top 10 destinations Americans have been booking this year so far are:
- Italy
- France
- South Africa
- Israel
- Germany
- Japan
- Greece
- United States
- New Zealand
- 10. Switzerland
The countries that have seen the largest percentage of growth through the years by U.S. travelers are:
1. Turkey (+310%)
2. Egypt (+264%)
3. Morocco (+144%)
4. India (+128%)
5. Cayman Islands (+124%)
6. Brazil (+92%)
7. Israel (+88%)
8. Switzerland (+82%)
9. Indonesia (+76%)
10. Greece (+74%)
The Middle East and North Africa are on an upward swing for the coming fall and holiday season, possibly showing pent-up demand for these exotic regions. But Israel, in particular, is a hot spot - one of only three destinations to place on both the Top 10 and Hot 10 lists this quarter, due to high demand.
Top trends in trip consumption these days include multigenerational trips, active/adventure travel, river cruising, food and wine travel, and celebration travel. The top destinations for family travel this year have been somewhat surprising: Iceland, Galapagos Islands, Cuba, Antarctica and Botswana/Mongolia.
Rapid Growth, Booming Sales
The growth of Virtuoso has been rapid in the past five years: the network has managed a 126 percent organic increase growth agencies with sales rocketing from $12.5 billion in 2013 to its current level of $23.7 billion. The executive team expects to see a 15 percent growth in network sales for 2018.
It is the Virtuoso Reserve client, however, that is responsible for 40 percent of preferred partner sales. In a snapshot, the average age of the Reserve Client is 62, although some 33 percent are under the age of 54. These clients spend an average of $128,000 a year on travel and take more than eight trips a year. They are likely to spend around $5,650 per air ticket, $1,735 a night in the hotel, and are 90 percent likely to stay loyal and return to their travel advisor over and over.
Of all Virtuoso clients polled, 86 percent agreed that luxury was worth the price, especially if it means getting the best service; 73 percent agreed with the statement: Once you experience luxury it is hard to go back. Similarly, 75 percent agreed that luxury will always have a place in their life.
"Twenty years ago, the top skill set for an agent to have involved processing skills - and processing quickly. But now, it's much more. Now they must they have the ability to listen, the ability to engage, and the ability to collaborate. It's about a conversation," Upchurch said. "You need processing skills and engagement skills and right psychological frame. You can take processing skills and attach them to people who are great at sales and collaboration. And they will be successful. But the reason there are fewer than 50 percent of the agents left across the board since that time is that they were processors only and have now been replaced by technology.
"In a world where there is more pressure and speed, you can't take the human out of humanity," Upchurch added. "That's one of the things we are trying to scale here. We are also trying to keep our profession meaningful and sustainable. Am I just a travel advisor selling wealthy people trips? No. We are in the business of helping people optimize their memories."
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