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Luxury travel show feels the pinch of recession
By David Maguire |
June 14, 2009, Sunday
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Print Edition
Print Edition
The Asia Luxury Travel Market (ALTM) event starts at the Shanghai Exhibition Center tomorrow, marking the third time it has been held in the city. Running from tomorrow to Thursday, it is a sister event of the International Luxury Travel Market (ILTM) held annually in Cannes, France.
Focusing on ultra-luxurious hotels, travel and destinations, the event this year boasts new exhibitors such as Ayana Resort & Spa (Bali), Hoshino Resort (Japan), Pangu 7 Star Hotel (Beijing), Small Luxury Hotels of the World, Tahiti Tourisme, The Ritz-Carlton Hotels, and Turisme de Catalunya (Spain).
It will also include prime European exhibitors and a number of exhibitors from South Africa including easyGolf Tours Worldwide, Fancourt, Liberty Safaris & Tours, Rovos Rail, Royal African Discoveries and Seasons in Africa and from the USA Capella Hotels and Resorts and Vail Resorts.
Christina Wood (pictured below) has been the exhibition director for the International Luxury Travel Market for the past two events, ensuring its position as the leading business to business event for the global luxury travel industry.
This year, she has taken over the running of the Asia Luxury Travel Market and talks about what the Shanghai travel industry can expect to see at the event, which is smaller than expected because of the economic downturn.
Q: How many times has the market been staged in Shanghai. And why was the city chosen for the event?
A: This will be the third ALTM and the third time in Shanghai. China was chosen because of the tremendous growth in its population of high net worth individuals.
The Ministry of Commerce predicts China will become the largest luxury market by 2014, accounting for 23 percent of global business.
Shanghai is arguably China's most fashionable and cosmopolitan city, seen as a catalyst driving the China economy forward.
Q: What is the definition of luxury that is used as criteria for the exhibitors?
A: We showcase the most sought-after destinations, ultra-luxurious accommodation, elite transportation and unique travel experiences. Quality is controlled by feedback from buyers and other exhibitors.
Q: Which customers is the market aimed at? Is it the travel trade or general consumers?
A: Travel trade tour operators, travel agents and personal travel arrangers already active in the luxury niche.
Q: Is it open to the general public?
A: No -- it is an invitation-only event. Both exhibitors and visitors have to go through a qualification procedure to prove that they operate in the luxury niche.
Q: What industry topics will be discussed at seminars if they are a component of this year's event?
A: There is a two-hour conference tomorrow afternoon. Topics will include luxury travel in the new economy, courageous leadership and a debate on "luxury is dead, long live price!"
Q: Is there a travel industry body associated with the event, i.e. as an endorsing or organizing entity?
A: No. There is not a relevant association for the luxury niche. However we work closely with any partner (media partners, buying groups, national tourist boards, among others) that represent a sector of our target audience.
Q: What size of event can visitors expect? And what can they expect to see on-site -- pink limos, Rolls Royces, spa baths, the like?
A: There will be more than 270 global exhibitors representing luxury hotels and resorts, gastronomic and cultural experiences, adventure and experiential travel, cruising and luxury transport.
No pink limos I'm afraid! We host more than 300 travel buyers from the Asia Pacific region.
Q: How has the current downturn affected the luxury end of the market. And do you expect to see it reflected in this exhibition?
A: Yes -- our exhibitors and buyers are seeing a 15 to 30 percent drop in their client bookings and this is reflected in a slightly smaller show.
However, the profile geographically and by type of product is as good as usual. The luxury niche is affected but not as dramatically as mass market tourism.
Focusing on ultra-luxurious hotels, travel and destinations, the event this year boasts new exhibitors such as Ayana Resort & Spa (Bali), Hoshino Resort (Japan), Pangu 7 Star Hotel (Beijing), Small Luxury Hotels of the World, Tahiti Tourisme, The Ritz-Carlton Hotels, and Turisme de Catalunya (Spain).
It will also include prime European exhibitors and a number of exhibitors from South Africa including easyGolf Tours Worldwide, Fancourt, Liberty Safaris & Tours, Rovos Rail, Royal African Discoveries and Seasons in Africa and from the USA Capella Hotels and Resorts and Vail Resorts.
Christina Wood (pictured below) has been the exhibition director for the International Luxury Travel Market for the past two events, ensuring its position as the leading business to business event for the global luxury travel industry.
This year, she has taken over the running of the Asia Luxury Travel Market and talks about what the Shanghai travel industry can expect to see at the event, which is smaller than expected because of the economic downturn.
Q: How many times has the market been staged in Shanghai. And why was the city chosen for the event?
A: This will be the third ALTM and the third time in Shanghai. China was chosen because of the tremendous growth in its population of high net worth individuals.
The Ministry of Commerce predicts China will become the largest luxury market by 2014, accounting for 23 percent of global business.
Shanghai is arguably China's most fashionable and cosmopolitan city, seen as a catalyst driving the China economy forward.
Q: What is the definition of luxury that is used as criteria for the exhibitors?
A: We showcase the most sought-after destinations, ultra-luxurious accommodation, elite transportation and unique travel experiences. Quality is controlled by feedback from buyers and other exhibitors.
Q: Which customers is the market aimed at? Is it the travel trade or general consumers?
A: Travel trade tour operators, travel agents and personal travel arrangers already active in the luxury niche.
Q: Is it open to the general public?
A: No -- it is an invitation-only event. Both exhibitors and visitors have to go through a qualification procedure to prove that they operate in the luxury niche.
Q: What industry topics will be discussed at seminars if they are a component of this year's event?
A: There is a two-hour conference tomorrow afternoon. Topics will include luxury travel in the new economy, courageous leadership and a debate on "luxury is dead, long live price!"
Q: Is there a travel industry body associated with the event, i.e. as an endorsing or organizing entity?
A: No. There is not a relevant association for the luxury niche. However we work closely with any partner (media partners, buying groups, national tourist boards, among others) that represent a sector of our target audience.
Q: What size of event can visitors expect? And what can they expect to see on-site -- pink limos, Rolls Royces, spa baths, the like?
A: There will be more than 270 global exhibitors representing luxury hotels and resorts, gastronomic and cultural experiences, adventure and experiential travel, cruising and luxury transport.
No pink limos I'm afraid! We host more than 300 travel buyers from the Asia Pacific region.
Q: How has the current downturn affected the luxury end of the market. And do you expect to see it reflected in this exhibition?
A: Yes -- our exhibitors and buyers are seeing a 15 to 30 percent drop in their client bookings and this is reflected in a slightly smaller show.
However, the profile geographically and by type of product is as good as usual. The luxury niche is affected but not as dramatically as mass market tourism.
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