Business & Finance
Wealthy travelers shift summer trips to autumn, driving up luxury shoulder-season rates
Data from luxury network Virtuoso shows autumn bookings surging as high-net-worth vacationers seek to avoid extreme summer heat and peak crowds.
The short version
- Luxury travel bookings for autumn have climbed 59% year over year, with total sales rising 69%, according to data from Virtuoso.
- High-net-worth travelers are moving trips to September and October to avoid crowded peak months and extreme summer temperatures in Europe.
- The surge in demand is driving autumn hotel rates toward peak summer levels in several popular European destinations.
- It remains to be seen whether persistent rate increases and growing autumn crowds will begin displacing off-peak travel demand into later months like November.
Key facts
- Virtuoso reported a 59% year-over-year increase in luxury autumn bookings and a 69% increase in sales, with September sales jumping 77%.[CNBC]
- Top destinations for wealthy American travelers this fall include Paris, the Amalfi Coast, the French Riviera, Tuscany, and New York.[CNBC]
- Average daily hotel rates for September rose 179% in the French Riviera, 131% in the Greek Isles, and 78% in Puglia.[CNBC]
- International luxury hotels averaged $1,653 per night, up from $985 in 2019, while reservations for accommodations priced at $1,500 or more per night increased by 37% over the past year.[CNBC]
What remains uncertain
- Whether rising autumn prices and growing tourist volumes in popular Mediterranean destinations will eventually diminish the perceived quality advantages over summer travel.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.