Airbnb to disrupt luxury travel with purchase of Luxury Retreats

Short-term home rental service Airbnb is innovating in the luxury travel space and responding to consumer demand with its soon-to-be-finalized purchase of Luxury Retreats, a similar service working with only upscale properties. The online marketplace will likely be focusing on bringing more luxury services to its users after the takeover is complete. The move is likely due to demand from users, who are interested in an easy experience in renting luxury homes for vacation or business stays. “Vacation rentals are no stranger to the luxury travel industry,” said Taylor Rains, “What Airbnb [...]

Read More

Gap between prices of luxury goods in US and China is narrowing

After two years of decline, mainland China’s Luxury market rebounded with a 4% sales increase in 2016 as consumers shifted a portion of their spending back home from overseas. This shopping “repatriation” came after many brands narrowed the lingering gap between their prices in China and abroad. However, L2 finds that not all Luxury labels are on board with the price harmonization trend. Recent research finds that just 45% of Luxury brands that post prices online have a gap of 15% or less between their China prices and those in the United [...]

Read More

Could Michael Kors or Coach buy Kate Spade?

Struggling handbag maker Kate Spade & Co. is up for sale and, according to market reports, fellow accessible luxury brands Michael Kors and Coach are possible suitors. But which company, both struggling with a stagnating global handbag market, is best positioned to make the acquisition? And does the deal make sense for either of them? The reports come after US hedge fund Caerus Investors urged Kate Spade, which has a market value of just over $2.3 billion, to consider a sale, expressing frustration at the company’s inability to achieve comparable profit margins vis-à-vis its rivals. For [...]

Read More

Mövenpick Hotels & Resorts to open 33 new hotels in the next 4 years

2016 was a momentous year for Mövenpick Hotels & Resorts, marked by the appointment of its new CEO, Olivier Chavy, which made global headlines. This ushered in a new era for the hospitality firm, which also unveiled a fresh new logo and corporate identity to better reflect its warmth and inherent ‘Swissness’. The Switzerland-based global hospitality firm also fast-tracked its global expansion plans in 2016, signing a record number of management contracts for new properties across Asia, Africa, the Middle East and Europe. Mövenpick Hotels & Resorts, which already operates [...]

Read More

Hyatt’s acquisition of Miraval is more than incremental

The acquisition of Miraval by Hyatt Hotels has the potential to mark a ‘tipping point’ for both the destination spa sector and the ever-expanding definition of hospitality brands, and the press release announcing the acquisition quotes several key pieces of data from research conducted by the Global Wellness Institute, an industry think tank, regarding the size of the wellness travel market and its integration in all key segments of travelers: leisure, corporate, and group and meeting. Specific to the destination spa market, integration with a major hospitality brand may be [...]

Read More

CPP-LUXURY iOS App