Vila Joya Luxury Hotel Survey Highlights

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The Luxury Hotel Survey was conducted between 16-29 December 2009 among 210 participants. Over 67% of all nationalities currently live in Portugal, with the remainder being regular visitors and/or second homeowners. All results have been independently verified by ILM Advisory.

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Vila Joya Luxury Hotel Survey Highlights

  1. 1. VILA JOYA LUXURY HOTEL SURVEY VILA JOYA LUXURY HOTEL SURVEY by ILM and Yellow Kite by ILM and Yellow Kite
  2. 2. VILA JOYA LUXURY HOTEL SURVEY TABLE OF CONTENTS INTRODUCTION 3 1 – CHARACTERIZATION OF THE RESPONDENTS 4 2 – WHEN THINKING OF… 6 3 ‐ WHAT IS A LUXURY HOTEL?    7 4 ‐ MONTHLY DISPOSABLE INCOME SPENT ON LUXURY PURCHASES 9 5 – MONEY SPENT ON LUXURY PURCHASES 10 6 ‐ MONEY SPENT ON LUXURY ‐ BY PRODUCTS/ SERVICES 11 7 ‐ RATING OF THE KEY FACTORS IN A LUXURY PRODUCT/SERVICE 12 8 ‐ FEATURES THAT MOST INFLUENCE HOTEL PURCHASES 13 9 ‐ MOTIVATIONS THAT MOST INFLUENCE HOTEL PURCHASES 14 10 ‐ LAST PURCHASE 15 11 ‐ 11  EXPENDITURE EXPECTATIONS FOR 2010  16 12 ‐ EXPENDITURE EXPECTATIONS BY PRODUCTS/ SERVICES  17 13 – VILA JOYA HOTEL 18 14 ‐ CONCLUSIONS 19 by ILM and Yellow Kite
  3. 3. VILA JOYA LUXURY HOTEL SURVEY INTRODUCTION The Vila Joya Hotel Luxury Survey was developed by ILM Advisory in partnership with the Vila Joya and Yellow Kite. This survey was published in “Inspirations Algarve” as well as on different internet networks such as Facebook, LinkedIn and The Star Tracker between the 16th and the 29th of December2009. A total of 210 full questionnaires were collected. To motivate people to complete the survey there was a gift awarded to the 111th full questionnaire submitted – a 3 night bed and breakfast experience with one gourmet dinner for two people in Vila Joya. The main objective of this survey was to understand the market’s current perception of luxury hotels and travel experiences and the preferences of people regarding these topics It went further in the analysis of monetary topics. expenditure to understand whether people spent more, the same or less money on these articles during 2009 and their perspectives for buying luxury products/ services during 2010. by ILM and Yellow Kite 3
  4. 4. VILA JOYA LUXURY HOTEL SURVEY 1  CHARACTERIZATION OF  1 – CHARACTERIZATION OF THE RESPONDENTS A total of 210 responses for the Vila Joya Luxury Hotel Survey were collected between the 16th and the 29th December 2009 Of these 115 were submitted by males and 95 by females 2009. these, females. The great majority of the respondents were between 30 and 39 years old (32,86%) and 50 and 55 years old (16,67%). With regard to their current occupation, 48,10% of the respondents work in management positions, 22,38% are self‐employed, 13,81% are retired and 15,71% occupy different positions in distinctive areas of business. Relating to the education level of those questioned, it was possible to conclude that half of them (50,48%) have finished the college/university, 38,75% have a post graduation degree and 10,95% have high school studies. 66,7% MÉDIA by ILM and Yellow Kite 4
  5. 5. VILA JOYA LUXURY HOTEL SURVEY 1  CHARACTERIZATION OF  1 – CHARACTERIZATION OF THE RESPONDENTS With reference t th country of residence, 67 62% of th respondents i di t d th t th currently li i f to the t f id 67,62% f the d t indicated that they tl live in Portugal, 20% in the United Kingdom, 5,71% in Ireland and 6,67% in other countries such as Spain, Denmark, India, among others. It is also important to mention that on average there are 2,65 members per household. Taking into consideration the answers provided concerning the annual family income it was possible to conclude 66,7% that half of the respondents (51,43%) earn less than 125K/year, almost one third between 125 and 250K and only for 4 people more than 500K. p p MÉDIA by ILM and Yellow Kite 5
  6. 6. VILA JOYA LUXURY HOTEL SURVEY 2 – WHEN THINKING OF… 2 WHEN THINKING OF In response to the question “ When thinking of ‘Cars/ Clothing/ Food and Beverage Products, Hotels’ what brands do you consider luxury brands?” the top three ranking answers in each category were as follows: CARS CLOTHING 1. 1 Mercedes (57 answers); 1. 1 Armani (53 answers); 2. Bentley (56 answers); 2. Channel and Hugo Boss (33 answers each); 3. Porsche (49 answers). 3. Prada (25 answers). FOOD AND BEVERAGE HOTELS 1. Moët & Chandon (34 answers); 1. Ritz (55 answers); 2. 2 Harrods and D H d d Dom Pé ig Pérignon (22 answers each); h) 2. 2 Hilton Hilt (39 answers); ) 3. Marks and Spencer (17 answers). 3. Sheraton (18 answers). It is also important that besides the brands It is also relevant that Vila Joya Hotel was identified, many of the respondents also referred to by 13 people as being a luxury hotel. mentioned champagne, caviar and oysters as luxury products. l d by ILM and Yellow Kite 6
  7. 7. VILA JOYA LUXURY HOTEL SURVEY 3 – WHAT IS A LUXURY HOTEL?  3 WHAT IS A LUXURY HOTEL? After the compilation of all the answers obtained we conclude that “service” is what best defines luxury hotels for almost half of the respondents (103). Some of the definitions provided were the following: • “Smooth Personalized Service with a Smile”; • “Personal service that feels like a comfortable 'blanket' over me giving me the feeling of being spoiled”; • “Attention to details quality and good service”; • “Charm, tailor‐made services, People”; • “Personal knowledge of all guests and attention to small but important detail”. 66,7% MÉDIA by ILM and Yellow Kite 7
  8. 8. VILA JOYA LUXURY HOTEL SURVEY 3 – WHAT IS A LUXURY HOTEL?  3 WHAT IS A LUXURY HOTEL? In addition to “service” the respondents also used words like “quality” and “comfort” as key to defining luxury hotels. • “Quality, exclusivity, prestige... A sensory experience, where the senses run free”; • “Hotel that provides quality and variety of experience in an environment which is beautiful and memorable.”; • “Service, Cleanliness, Comfort and little additions that make your stay extra special, good atmosphere”; • “The primary consideration for me is the best quality of service. The hotel staffs’ primary function is to make the guest feel welcome and comfortable in the surroundings. The comfort of the bedroom and particularly the bed is the next most important and then the food”. 66,7% MÉDIA by ILM and Yellow Kite 8
  9. 9. 4 – MONTHLY DISPOSABLE INCOME  VILA JOYA LUXURY HOTEL SURVEY SPENT ON LUXURY PURCHASES 41% of the respondents mentioned that they can afford to spend between Monthly disposable income spend on luxury purchases 5 and 15% of their income on luxury 5 y 9% 3% 28% purchases. 19% Also significant is the number of respondents (59 people, representing 28,10% of the answers) who don't spend more than 5% of their income on 41% < 5% of my disposable income  5 ‐ 15% of my disposable income the purchasing of luxury articles. 15 ‐ 25% of my disposable income 25 ‐ 45% of my disposable income > 45% of my disposable income Only a minority of 3%, 6 people, afford to spend more that 45% of their 66,7% MÉDIA income on luxury purchases. by ILM and Yellow Kite 9
  10. 10. 5 – MONEY SPENT  VILA JOYA LUXURY HOTEL SURVEY ON LUXURY PURCHASES According to this graph, it is possible to conclude that 44% of the Money spent on luxury articles on 2009 comparing to previous years respondents spent about the same p p 44% 45,00% money on luxury purchases in 2009 40,00% when compared to previous years. 35,00% 30,00% 25% 25,00% Although one third of those 19% 20,00% interviewed (35%) spent less on luxury 15,00% 10% articles in 2009 2009. 10,00% 3% 5,00% 0,00% Only a minority of 7 respondents Significantly Somewhat About the Somewhat Significantly more more same less less confirmed spending significantly more on luxury purchases during the last year (2009). by ILM and Yellow Kite 10
  11. 11. 6 – MONEY SPENT ON LUXURY  VILA JOYA LUXURY HOTEL SURVEY BY PRODUCTS/ SERVICES When looking at this graph it is Variations in amounts spent in 2009 comparing to previous years possible to see that people are willing 60,0% to t pay more f t for travel experiences, l i 50,0% this being the category where more 40,0% 30,0% people confirmed spending more 20,0% money in 2009 compared with 10,0% 0,0% previous years – 36,7%. es t s ne s s es en rie el ri e nc isi in ot nm xu xu ie  w cu Home l H luxuries h i have b been th it the item  h lu er  lu ai ne e  ry e  rt xp ut al xu  fi m te on  e Ha d Lu Ho En el  an rs were people have reduced their av Pe ne Tr g pa am expenses most (35,7%), followed by Ch Less L Same S More M personal luxuries (33,8%) and luxury hotels (32,4%). by ILM and Yellow Kite 11
  12. 12. 7 – RATING OF THE KEY FACTORS  VILA JOYA LUXURY HOTEL SURVEY IN A LUXURY PRODUCT/SERVICE This table shows the scale for items most voted by the respondents for each of the categories available when considering the importance of a luxury product/ service. Category Rate % of respondents Quality Very important 85,7% Personalized service Very important 76,7% Location Very important 55,7% Design Very important 51,9% Rich in experiences Very important 48,1% Uniqueness Very important 44,8% Scale Moderately important 35,2% Brand Moderately important y p 3 ,5 30,5% Trendy Moderately important 29,5% Prestige Moderately important 29,0% High Price Important 31,9% According to the table one may conclude that for the great majority of the respondents quality and personalized service are the two main aspects that they consider most important when thinking about luxury products and services. d d i by ILM and Yellow Kite 12
  13. 13. 8 – FEATURES THAT MOST  VILA JOYA LUXURY HOTEL SURVEY INFLUENCE HOTELS’ PURCHASE RANKING 1. SERVICE 2. LOCATION According to all the answers collected, “service” is the feature 3. VALUE IN TERMS OF THE EXPERIENCE  that has more influence on the buyers purchase decision, with LIVED ONSITE 4. CUSTOMER RELATIONSHIP an average weight of 15,8%, being followed by location (15%) and 5. UNIQUENESS value in terms of the experience lived onsite (14,4%). 6. EXPERIENCES 7. PRICE 8. FUNCTIONALITY 9. BRAND 10. 10 HOTEL SCALE  by ILM and Yellow Kite 13
  14. 14. VILA JOYA LUXURY HOTEL SURVEY 9  MOTIVATIONS THAT MOST  9 – MOTIVATIONS THAT MOST INFLUENCE HOTELS’ PURCHASE RANKING 1. RELAX 2. WINE AND GASTRONOMY From all the motivations that can influence the buyers at the time 3. SPA of purchasing and choosing an hotel, relaxation is the one that 4. BEACH 5. CULTURAL HAPPENINGS (THEATRE,  most influences the respondents with an average rate of 17,4%. fl h d h f MUSIC, CINEMA) The Wine and Gastronomy product appears in second place with 6. TOURING a rate equal to 16,6%. 7. 7 ART AND BUSINESS 8. GOLF 9. NAUTICAL 10. READING 11. PHOTOGRAPHY  by ILM and Yellow Kite 14
  15. 15. VILA JOYA LUXURY HOTEL SURVEY 10 – LAST PURCHASE 10 LAST PURCHASE TRAVEL HAUTE CUISINE • There is no uniformity regarding when the • Half of the respondents (51%) had at least one respondents last travelled, however 79,6% travelled Haute Cuisine dinner during last month; no l longer th 6 months ago: 32,9% ‐ one month ago, than th % th • 60% confirmed that they didn’t spent more than 25,7% ‐ 3 months ago and 21% ‐ 6 months ago; 250€ on their haute cuisine dinner, although one • The great majority of the respondents spent person mentioned that he spent more than 3 500€ 3.500€ between 500 ‐ 1.499€ (35,2%) and 1.500 – 2.499€ on it; (25,7%) on their last travel experience; • People mostly enjoy a haute cuisine dinner during • 54,8% made their travel purchase during the week the weekend (45,7%); and the weekend; • This leisure luxury item is more often bought than s e su e u u y te s o e o te boug t t a • On average, people only buy a travel experience travel experiences. A quarter of the respondents once every 6 months (30,5%) or even once a year – enjoy a haute cuisine dinner once a month and 35,7%. % 42,4% once every 3 months. % th • by ILM and Yellow Kite 15
  16. 16. VILA JOYA LUXURY HOTEL SURVEY 11  EXPENDITURE EXPECTATIONS  11 – EXPENDITURE EXPECTATIONS FOR 2010   Expenditure expectations for 2010 According g to the answers 60,00% 55% collected, there are good 50,00% perspectives for 2010, with 86% of 40,00% 27% the respondents willing to pay 30,00% about the same or even more for 20,00% 11% luxury products and/or services l od t d/o e i e 10,00% 5% 1% compared with 2009. 0,00% Significantly Somewhat About the Somewhat Significantly more more same less l less l by ILM and Yellow Kite 16
  17. 17. VILA JOYA LUXURY HOTEL SURVEY 12  EXPENDITURE EXPECTATIONS  12 –EXPENDITURE EXPECTATIONS BY PRODUCTS/ SERVICES   On average, and for all the categories, 62% of the respondents are willing to spend the same in luxury purchases in 2010, when Expenditure expectations on the different luxury products/ services compared to 2009, 22,7% more and 15,2% less. 80,0% 70,0% The “travel experiences” category is that in 60,0% 50,0% which the respondents are once again 40,0% 30,0% disposed to paying more d i the coming di d i during h i 20,0% 10,0% year (41,4%), with the “Luxury hotels” 0,0% appearing in second place with 21,4% of the es t s ne s s es en rie el ri e nc isi in ot m xu xu ie cu  w  h in answers for its category. lu er  lu ry e  ne rt a e  xp ut al xu  fi m te on  e Ha Lu d Ho En el  an rs av Pe ne Tr g On the other hand, the “home luxuries” and pa am Ch Less Same More the “entertainment” are items on which people plan to reduce their expenditure with 23,8% and 14,7% of the respondents confirming this respectively for each category. by ILM and Yellow Kite 17
  18. 18. VILA JOYA LUXURY HOTEL SURVEY 13 – VILA JOYA HOTEL   13 VILA JOYA HOTEL Through the observation of this graph we Vila Joya Hotel may conclude that the great majority of 17,1% 16,7% the respondents h h d have, at l least, already l d heard of, or read about, Vila Joya Hotel. 9,0% Although, Although from the 83 2% of respondents 83,2% who “know” this hotel, only 9% (equal to 19 people) have already stayed there, and 57,1% 16,7% had eaten in the 2* Michelin No Yes, I have read or heard about it restaurant. Yes, I have staued there Yes, but I only went there to visit the 2* Michelin restaurant It is very significant that 16,7% of the respondents have never heard about Vila Joya Hotel. by ILM and Yellow Kite 18
  19. 19. VILA JOYA LUXURY HOTEL SURVEY 14 – 14 CONCLUSIONS The main conclusions derived from the “Vila Joya Hotel Luxury Survey” were the following: • The key words that best describe Luxury Hotels are: Service, Quality and Comfort; • Almost half of the respondents spend between 5 and 15% of their monthly income on luxury purchases; • Concerning the expenditure on these types of articles in 2009, and when compared to previous years, 44% of the respondents mentioned that they spent about the same and 35% somewhat less or significantly less on them. The home luxuries were the products on which people cut their expenditure most, and also the one on which they are planning to reduce most in 2010 On the other hand the travel experiences are the luxury 2010. hand, products on which people are willing to pay more during 2010, as confirmed by 41,4% of the respondents; • Quality and Personalized service are also the main aspects considered by respondents when speaking about luxury products/ services; 66,7% MÉDIA • The two main factors that influence the buyers’ purchase of Luxury hotels are Service and Location; by ILM and Yellow Kite 19
  20. 20. VILA JOYA LUXURY HOTEL SURVEY 14 – 14 CONCLUSIONS • Relaxation Wine and Gastronomy and Spa are the three main motivations when choosing the purchase of a Relaxation, Luxury Hotel; • Due to the cost of travel experiences, people spend more frequently in haute cuisine dinners than in travel experiences – once a month or every 3 months in haute cuisine, compared with every 6 months or yearly in travel experiences; • With regard to planned expenditure on luxury products/ services in 2010 compared to 2009, there are good perspectives ‐ 55% of the respondents mentioned they intend to spend about the same and 32% somewhat more or significantly more; • It is also important that the great majority of the respondents questioned ( l h h f h (83,2%) h already h ) had l heard of, read or f have been in Vila Joya. Although, it is also relevant that 66,7% a quarter of the respondents didn’t know almost anything about this establishment. MÉDIA by ILM and Yellow Kite 20
  21. 21. TOURISm2 = ASSETS + TERRITORY + ENVVIRONMENT + AUTHENTICITY + TRAVELERS + COMPETITION + TRENDS + A C CONCEPTS + INNOVATIO + STRATEG + INVESTMENT + HOTELS + RESORTS + LEISURE FAC S ON GY S CIILITIES + TY D FEASIBILIT + SERVICE + EXPERIENCES + EXCELLENCE + OUR CLIENTS DREAM. (+351) ( 351) Praça Duque de Saldanha • Ed. Atrium Saldanha 10º J • 1050-094 Lisboa • Portugal WHERE TO FIND US Tel.: ( 351) 213 145 481 • Fax: (+351) 213 145 482 • e-mail: info@ilm portugal.com e mail: info@ilm-portugal.com www.ilm-portugal.com

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