As the International Luxury Travel Market prepares to open its doors in Cannes from December 7 to 10, TTN speaks to Debbie Joslin, ILTM group exhibition director, about what to expect at this by-invitation annual event
As an exclusive event, what does ILTM offer suppliers and buyers?
• What we have established over eight years is a format at ILTM that brings together the world’s definitive collection of luxury experiences, showcasing a variety of the most prestigious luxury travel products and services to the most discerning international luxury travel buyers.
• One of ILTM’s key strengths is that the size of the event is controlled, ensuring there is a balanced ratio of suppliers to buyers.
• Equally important is the strict qualification process for both suppliers and buyers guaranteeing that only the industry’s elite are invited .
• Tailor-made appointments delivering return on investment are driven by the requirements of both the exclusively invited buyers and the luxury travel suppliers.
Last year 45,000 pre-scheduled appointments were organised between buyers and exhibitors.
• What is clear is that those who both exhibit and attend as buyers at ILTM recognise the importance of doing business in a private club environment, one that delivers return on investment. Last year alone 845 VIP buyers looked to place orders of between €50,000 ($74,000) and €5 million ($7.4 million) with 52 per cent of those being placed within a year.
What’s the mix of your hosted buyers this year in terms of any new countries targeted and why?
We are targeting around 70 countries and expecting to see increased buyer participation from Brazil, the US, China and Germany together with a combination of emerging and mature markets that underpin the luxury travel sector. For the first time we will be welcoming buyers from the Association of Celebrity Personal Assistants representing some of the world’s top celebrities and personalities.
How do you decide whether to accept a VIP buyer?
ILTM follows strict qualifying criteria for VIP hosted buyers. All buyers must operate on an outbound basis; show evidence of past and future business placed in luxury travel and be an established player in the market place.
What kind of products are luxury buyers demanding this year according to your feedback? What new luxury travel trends are you witnessing?
The luxury travel market is changing, with authenticity and the quality of experience becoming increasingly important to group and individual travellers.
Our feedback shows that buyers are increasingly looking for customised, unique experiences with adventure travel high on the list together with luxury safaris, niche boat cruises and themed holidays taking in cooking courses or art tours.
In terms of destinations Eastern Europe is making its mark, as are countries in the Middle East, Africa and South America. With adventure luxury travel on the increase New Zealand is becoming a sought after destination.
How has the economic slowdown impacted on luxury travel?
The economic slowdown has obviously impacted on many markets but it has not stopped travellers booking holidays and luxury experiences. Luxury travellers are demanding extra value. They want seamless, quality services that reflect the price they are paying, tailored to their individual requirements.
What luxury travel trends do you predict for the future?
A focus on ‘authenticity’ and the quality of experience will continue to be key issues that the industry will see in 2010.
Anything new for this year’s show? Will it have a theme?
ILTM 2009 is all about relevance. A new partner working with ILTM in 2009 is Ultratravel with its portfolio of Ultratravel magazine and the recently launched www.ultra.travel community website.
As part of this partnership ILTM has introduced a new initiative – ILTM Ultratravel Forum – to take place on December 7. Two panels will discuss ‘Keeping Luxury Relevant’ and ‘The Future of Luxury’.
This new initiative has been introduced to tackle head on the key issues affecting the industry, so all those attending ILTM can learn and participate in a ‘not to be missed’ event that could well influence and impact on the future development of each participants businesses’.
As part of the partnership the event is also introducing a new Awards programme.
The ILTM ultra.travel Awards will recognise the best luxury travel experiences from around the world.
Additionally, ILTM’s four-day programme will include speed networking sessions giving exhibitors 12 four minute meetings with VIP buyers interested in specific categories from gastronomic experiences to boutique hotel getaways; Focus forums, a private networking opportunity for exhibitors to inform and market to a select group of buyers; and lunch and evening networking receptions.