Multigenerational travel has been one of the top trends in luxury travel for several years, and it’s only expected to keep growing.
One recent study shows some interesting and promising trends for agents. While the grandparents are usually the ones footing the bill, it’s the millennials who are doing the planning. And they are often using professionals to help them.
That’s according to a survey of 1,500 multi-generational travelers that was done late last year by MMYG and Preferred Hotel Group.
“This is a very influential group because they really love travel,” said Lindsey Ueberroth, president and CEO of Preferred Hotel Group said. “They will spend time to do the planning.
Uerberroth says millennials are also among the highest groups using agents for multigenerational trips because the logistics of planning such a vacation are complicated, and they recognize the benefits of tapping into a professional’s knowledge when planning a trip to a destination for the first time.
But they can also be more work for agents than boomers, Ueberroth said. She said one agent told her that while a baby boomer might walk in, tell her where they want to go and write a check, “if a millennial walks in they might have 50 pages of research.”
Still, it’s a worthwhile market for agents. The study shows that 91% of millennials surveyed said they try to take a multigenerational trip every year.
Other highlights from the survey: Multigenerational vacations now represent half of all vacations taken by both grandparents and parents. While the party consisted of grandparents, parents and their children on 44% of such trips, on the remaining 56% the definition of multigenerational groups has expanded to include siblings (31%), nephews/nieces (20%), and friends (20%).
And multigenerational travelers use the services of traditional travel agents much more often than other leisure travelers. During the past year, 38% used the services of a traditional travel agent to plan a multigenerational vacation, and 41% said they intend to do so during the next two years. Both percentages are twice as high as agent usage among all other leisure travelers.
“The size and scope of the opportunity inherent in this growing market segment is apparent,” Ueberroth said
“And when you look at the destinations that accommodate all those age groups, it really takes on a whole different life. Hotels that can cater to all those things can be wildly successful.”