With over 500 luxury travel buyers from 26 countries across the Asia Pacific, over 500 global exhibitors and 150 industry media, ILTM (Internal Luxury Travel Market) Asia showcased the region’s luxury travel industry. In its ninth year in Shanghai, ILTM Asia delivered one-on-one appointments with selected luxury travel buyers for the world’s finest hotels, travel experience companies and destinations.
Alison Gilmore, Senior Exhibition Director of the ILTM Portfolio highlighted at the opening forum that half of the top ten ‘super-rich’ cities in the world are now in Asia and advised the 500 global travel suppliers present that “it’s not what you do, it’s the way that you do it.”
Also speaking at ILTM Asia's Opening Forum at The Portman Ritz-Carlton Shanghai, Sean Rein, Founder of China Market Research Group and author of The end of Copycat China, revealed that today’s Chinese traveler is looking for "more than just a regular holiday" - hotels and travel companies need to curate services specifically for individuals in the Asia market. He observed that current Chinese trends are leaving luxury products behind to focus on luxury experiences. In essence, he summarized:
"It’s about doing something different. Chinese and Asian guests now want great, individual experiences that are tailored to them. The new luxury is not buying a branded bag, it’s swimming with dolphins, hiking mountains, visiting far flung amazing places – and then sharing the images on your phone. WeChat and WeChat Moments are now as important a part of the travel experience as anything else.”
Professor Dr. Phil Klaus MBA, MRes continued the discussion about the importance of the personalised customer experience in 2015, urging the audience to "compete for their customers, not against their competitors.” He offered insights into ensuring that companies re-focus on customer experience as the key component to their business.
“80% of the time and money invested from hotel groups goes into the moment up until the purchase, but the experience for customers really comes after the purchase. Post purchase is big business these days. It generates 24% of revenue, but actually over 45% of profits.”
ILTM Asia returns to Shanghai from 30 May – 2 June 2016. Further ILTM events in 2015/2016 are:
• ILTM Americas: Riviera Maya, 28 September – 1 October 2015
• ILTM: Cannes, 30 November - 3 December 2015
• ILTM Japan: Tokyo, 29 February – 2 March 2016
• ILTM Africa: Cape Town, 4 – 6 April 2016
• Travelweek Sao Paulo by ILTM: 3 - 6 May 2016
For further information on all ILTM events, please visit iltm.com