The International Luxury Travel Market returns to Cannes on December 8 to 11. Exhibition director at ILTM Christina Wood spoke to TTN about the show’s intentions
How does last year’s ILTM compare with projections this year?
There were 1,300 exhibitors in 2007 with a growth to 1,420 exhibitors for 2008 and a comparable growth in the number of global VIP buyers.
What is the show’s growth strategy?
The luxury sector continues to grow and even though we consistently tighten up our criteria for participation and control the speed of growth to match the attendance levels of global buyers, we are always left with a long waiting list of potential exhibitors who would fulfil the criteria
Which exhibitors will be making their debut? Has the percentage of Middle East exhibitors increased?
New exhibitors from Japan and Finland and the Four Seasons are exhibiting for the first time as a corporate brand. The Middle East presence has grown considerably for 2008 with Dubai, Abu Dhabi and Oman bringing more exhibiting partners and Qatar taking a group stand for the first time. With an increased interest in this region from both exhibitor and buyers we have moved the ME region to a more prominent position on the show floor.
What can we expect to see at the conferences this year?
There is no conference this year - it has been replaced by the Future Forum.
Tell us about the Future Forum and what kind of insight will it provide to the luxury travel industry?
This new session will give us all an up to the minute assessment of the luxury sector’s reaction to the recession and reveal how businesses are planning to respond. Around 1,000 luxury travel suppliers and buyers will take part in a real time research project using interactive voting technology and the results will be revealed to the global press less than 24 hours later.
Other new initiatives at the show this year?
Buyers and exhibitors work very hard in the pre-scheduled appointment programme with up to 45, twenty minute appointments during the three days. Even so there is a unanimous call for more networking and information rich sessions so this year we have introduced speed networking sessions, focus forums and the social programme has been enhanced and extended.
Speed networking – six one hour sessions – allows buyers and exhibitors to undertake a series of five minute meetings based on regional interest.
Focus forums are one hour industry hosted networking events with groups of interested buyers.
Has the economic downturn had an impact on luxury travel? What can be done to overcome that?
The luxury sector is resilient but not immune. The sector is cautiously optimistic at this stage. The Future Forum will be looking directly at the impact in 2009 and consider strategies to ensure a positive performance.
Have you addressed the few problems faced by exhibitors and visitors last year?
The satisfaction levels for both exhibitors and buyers were very high for 2007, but we are always looking to improve our services and add value. The new initiatives are in direct response to feedback from our participants.
What are the new trends and spends in the luxury travel market?
Travellers are looking for unique and authentic experiences such as more family and educational travel. There is a move away from the ostentatious to the discreet. There will be even more emphasis on exceptional customer service and value for money.
What particular trends do you see developing in the Middle East?
The Middle East continues to target high end and premium audiences from a position of strength and ILTM is the ideal platform to support this strategy.
In a climate of global recession, the trend for luxury travel continues to boom as indicated in the ILTM Buyers Survey 2007. This trend, fuelled by the increase in high net worth individuals is set to continue throughout 2008.