Industry Events

The Affluent Traveler Collection Symposium 2024: Key Takeaways

By Newsdesk Sep 30, 2024 10:02am

The Affluent Traveler Collection (ATC) Symposium took place at JW Marriott Marco Island Beach Resort, FL, September 24-27. Approximately 270 agency owners, managers and advisors, along with top preferred suppliers and staff, attended sessions, 1-to-1 meetings, a trade show and networking receptions.

Luxury Travel Expansion

The global luxury travel market size was estimated at $1.38 trillion last year, according to Grand View Research. It is expected to grow at a rate of 7.9 percent from 2024 to 2030, when it reaches $2.33 trillion.

While high-net-worth individuals with assets between $1 million and $30 million dominate the luxury travel space, there is notable growth among travelers with net worths between $100,000 and $1 million. According to McKinsey, these aspiring luxury travelers are now 35 percent of the market and are increasingly spending on upscale trips.

As the luxury travel market increases, so does the pool of affluent consumers who want to partner with a travel advisor. A Flywire survey reports that 92 percent of luxury travelers have used (or will likely use) a travel advisor for trips in the next 18 months.

Cryptocurrency Acceptance

ATC and other American Marketing Group companies are the first travel agency networks to accept cryptocurrency as payment for vacations. All ATC agencies can now benefit from this competitive advantage and use AMG’s proprietary tripXpress platform to process crypto transactions.

There are more than 172,000 crypto millionaires, up 95 percent from 2023. The typical crypto user is an affluent millennial who travels often and seeks upscale vacation opportunities—the same demographic that is increasingly seeking the services of a travel advisor.

Luxury Supplier Growth

The portfolio of luxury-focused suppliers has expanded to accommodate demand for authentic experiences in lesser-known locales. The network has added two cruise lines: Crystal and Scenic Group. The intimate small-ship and yacht experiences offered by these lines align with affluent client preferences today.

To provide more personalized, immersive experiences, the network’s OnLocation program has added 19 Abercrombie & Kent DMCs around the world. The OnLocation program now includes 49 partners covering more than 100 destinations.

Micato Safaris is another notable addition to the supplier collection. It has set the industry standard for luxury, service and philanthropy for nearly five decades in East Africa, Southern Africa and India.

ATC Hotel Collection

The ATC hotels and resorts portfolio has also expanded this year. The collection now stands at 1,200 hotels, 24 percent larger than last year’s figure. Two new portfolio subsections include villas and residences along with well-being.

This year, ATC has accepted properties in up-and-coming locations such as Grenada and Oman, as well as affluent favorites including New York, London and Venice. New additions include properties from luxury hoteliers such as Raffles, Six Senses and Waldorf Astoria. The Radisson Collection is ATC’s newest brand-level partnership, in addition to Marriott STARS & Luminous and IHG Luxury & Lifestyle.

ATC hotel amenities have been enhanced for 2024, with daily breakfast and a value-add feature now applicable per bedroom, not per reservation. The amenities are worth an average of $1,000 per stay and offer:

Complimentary breakfast daily for two guests per bedroom
A local value-add amenity worth $100 per bedroom
One category room upgrade if available
Complimentary Wi-Fi
Early check-in/late check-out if available
Personalized welcome note from the general manager

Affluent Traveler Magazine

ATC’s twice-yearly magazine, The Affluent Traveler, has returned to print as well as its digital format. In addition to traditional outlets, the magazine is available in Delta Air Lines and United Airlines airport lounges, over 100 private jet terminals, and newsstands across North America.

Award Winners

Symposium’s awards ceremony recognized ATC’s top agencies and partners of the year.

Three ATC Chairman’s Awards for exceptional achievement in agency sales were distributed: Altair Travel (Travelsavers US); Scott & Thomas Travel Personalized (NEST); and Silversea Cruises. Presented by the ATC leadership team, this honor recognizes a partner who has excelled in building strong relationships, offering innovative solutions, and delivering exceptional experiences for clients and advisors.

The ATC Soaring Eagle Award for superior agency sales growth was presented to Polar Dream.

The Partner of the Year Awards are selected by ATC advisors. These partners have demonstrated exceptional commitment, outstanding service, and a strong dedication to supporting the advisor community:

Luxury Cruise Partner of the Year – Regent Seven Seas Cruises
Luxury Specialty Cruise Partner of the Year – AmaWaterways
Luxury Guided Tour Partner of the Year – Tauck
Luxury FIT Partner of the Year – Classic Vacations
Luxury OnLocation Partner of the Year – Travelive
Luxury Destination Partner of the Year – Greece
Luxury Hotel Partner of the Year – Marriott STARS & Luminous
Luxury Resort & Spa Partner of the Year – The Boca Raton

For more information, visit www.theaffluenttraveler.com.