Luxury visitors look for authentic experiences

Local real estate magnate Sir Paul Altman is of the opinion that destinations must find ways to impress those luxury repeat visitors.

 

“New options; new exiting experiences are always important,” he told the Caribbean Tourism Organisation 2016 State of the Industry Conference (SOTIC) “The Luxury Experience” session.

 

“Our specialty must remain our uniqueness. If we are going to grow our economies we must raise the bar. Of course it is not all about a high price product – we know that visitors will pay for service and delivery of the quality experience. But the new wealthy also want to experience something 

authentic....”

 

“The example of the billionaire who stays at the most expensive hotel and chooses Moon Town, the fishing village in the north ... for dinner and expresses to me that he wants that experience,” he shared with the gathering at Hilton Barbados Resort.

 

“We read recently of a Singapore street vendor receiving a Michelin Star for his chicken and noodle dish, which sells for US$1.85. It is the experience that has changed the paradigm, Michelin Stars are associated with high prices, not with street ventures.”

 

Sir Paul, Managing Director of Altman Real Estate, the Caribbean’s leading real estate company, therefore believes that countries should not take what they have for granted, pointing out that “visitors value our way of life.”

 

He also observed that the region’s main advantages remains friendly engagement at every level – the barman, the chef, water sports operator, the golf caddy, taxi driver and of course the first impression made at points of entry.

 

“You don’t get a second chance to make that first impression,” he stressed.

 

Further acknowledging that luxury travel is growing faster than overall travel, Sir Paul said Barbados’ challenge is to stretch visitor arrivals beyond the winter season.

 

“The obvious answer is new markets,” he indicated, “South America where their winters are our summer. Also special events such as food, wine and rum festivals, and film festivals.”

 

“If predictions are correct luxury travel is projected to grow at 6.2% rate over the next 10 years… As the rich get richer and seek new experiences we must think outside the box.” (TL)