This year marked the 23rd edition of Virtuoso Travel Week (VTW) in Las Vegas, an annual gathering that serves as a focal point for luxury travel advisors and their preferred partners within the travel network.
Held from August 10 to 16, the event brought together over 4,700 attendees, including 2,086 travel brands spanning 97 countries. Industry leaders convened at prestigious venues such as the Bellagio Resort & Casino, Aria Resort & Casino, The Cosmopolitan of Las Vegas, and Vdara Hotel & Spa, setting the stage for a weeklong celebration of luxury travel.
The event showcased the latest trends in luxury travel. Despite global challenges such as geopolitical conflicts, natural disasters, and overtourism, Virtuoso members reported record-breaking sales in the first half of 2024, doubling 2019’s figures and growing 213%. Among the standout trends were “coolcations”—luxury trips to cooler destinations like Denmark, Sweden, Iceland, Norway, and Finland, which saw a 44% increase in sales. Meanwhile, warm destinations remained popular, outselling cool destinations by a ratio of 10:1, even as their growth slowed by 0.5%.
This year’s travel week introduced several notable changes, reflecting Virtuoso’s commitment to innovation and adaptation in an ever-evolving industry. For the first time, attendees were selected through a rigorous review process by the Virtuoso team, moving away from the traditional first-come, first-served registration. This new approach ensured a curated mix of top producers and new advisors, allowing for more meaningful networking opportunities. Furthermore, the classic appointment schedule was replaced by a more dynamic format, with matched meetings in the morning and self-scheduled sessions or events in the afternoon. Among the fresh offerings were “Brain Dates”—informal, unstructured group discussions on self-selected topics—alongside a Hotel Showcase and wellness activities such as fitness classes and yoga.
“Changing Virtuoso Travel Week came with risk, but we embrace that risk,” said Jennifer Campbell, senior vice president of network products and events, during the opening general session on August 11. Her remarks underscored the event’s theme, “The Voice of Luxury,” which highlighted Virtuoso’s diverse community of members and partners. “Our varied backgrounds, business models, and offerings allow us to deliver the ‘right’ experiences, backed by authentic relationships, to a richly diverse group of affluent travellers around the world,” Campbell added.
This year, the Virtuoso network continued its impressive growth trajectory, adding 18 new members and 109 preferred partners, including 71 new hotels, 26 new tour/on-site (DMC) partners, eight new tourism boards, and four new cruise lines. With these additions, Virtuoso’s partner network now comprises 2,300 suppliers across 58 countries, according to Cory Hagopian, senior vice president of global member and partner sales.
David Kolner, executive vice president of Virtuoso, emphasised the network’s growing success, pointing out a 15% increase in preferred partner revenue over the past year, even though the number of preferred partners grew by only 4-5%. He suggested that the network might not be expanding quickly enough to match the rising demand and the influx of high-net-worth clients. Kolner underscored the necessity of bringing in more advisors to meet this growing demand, expressing his desire for every affluent traveller to have access to a Virtuoso travel advisor—a goal he acknowledged they have not yet achieved, but are actively working towards.
The impact of pop culture on travel was also evident, with Taylor Swift’s Eras tour driving significant booking volumes—a phenomenon dubbed the “Swift Lift.” According to Kolner, cities hosting Swift’s concerts saw a 51% increase in average daily rates (ADRs) and a 139% spike in booking night volume. The upcoming Paris Olympics are also expected to drive similar trends in ADRs and booking volumes.
Virtuoso continues to invest in technology and marketing to stay top of mind for luxury travellers. The network’s PR efforts have garnered 20 billion impressions this year, while the “Find a Travel Advisor” button on the Virtuoso website saw a 76% increase in usage. The Virtuoso homepage has been redesigned with enhanced search and navigation features, optimised for mobile viewing.
The generational diversity in travel was another key topic at VTW, with Virtuoso noting that for the first time, seven generations are travelling simultaneously. Baby Boomers continue to lead in travel spending, while millennials and Gen Z are outpacing other age groups in travel intent, reflecting their growing influence in the luxury travel market.
Sustainability more important than ever
Sustainability remained a central theme throughout Virtuoso Travel Week, aligning with the network’s long-standing commitment to responsible travel. Since 2011, Virtuoso has prioritised sustainability, a focus that was evident during the “Under One Sky” lunch on August 12. The event honoured advisors and preferred partners making significant contributions to sustainable travel, with awards going to Wilderness, Big Five Tours & Expeditions, Inc., Abercrombie & Kent Vietnam, Nuba, and Winkaffe Global Travel.
Jessica Hall Upchurch, vice chair and sustainability strategist for Virtuoso, explained that the network’s mission has been to elevate the importance of sustainability in travellers’ decision-making, ensuring that those who prioritise ethical practices are rewarded with success. She noted that while doing good is crucial, placing sustainability at the forefront is not only a significant business opportunity but also a transformative approach to how the industry operates.
The week concluded with the 2024 Best of the Best awards, which celebrated the network’s top travel agencies, advisors, and preferred partners. The Bulgari Hotel Roma in Italy was named Hotel of the Year, while Raffles London at The OWO in England won Best New or Reimagined Hotel. Other notable winners included Miraval Arizona Resort & Spa for Best Wellness Property and Micato Safaris for Best Tour Operator.
Virtuoso Travel Week 2024 not only reinforced the network’s position as a leader in luxury travel but also highlighted the opportunities and challenges facing the industry in the coming years.
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Photo – top of page – Kevin Dunlap / Unsplash
