Latest news with #experientialtravel
Zawya
4 days ago
- Business
- Zawya
New study reveals how South Africans are redefining adventure travel
New research into South Africa's domestic adventure tourism market reveals a growing trend: more than 30% of local travellers spend under R500 per person per day yet still seek meaningful, high-value experiences. Conducted by Satsa in partnership with Wesgro, the study gathered insights from over 4,200 respondents through the 101 Adventures Western Cape Competition. Touted as the most extensive analysis of its kind to date, the findings highlight a growing preference for experience-rich, affordable adventure travel and challenge outdated perceptions around pricing in the sector. "This research fundamentally shifts our understanding of South Africa's adventure traveller," says Hannelie du Toit, Satsa's COO. "We're seeing a market that values experience over expense, with clear implications for how operators should position and price their offerings." Key market findings The data reveals three equally compelling travel motivators: adventure (20.3%), relaxation (21.2%), and family time (21.1%), highlighting the multi-dimensional nature of domestic travel decision-making. This finding suggests operators should consider hybrid experiences that address multiple consumer needs simultaneously. Self-catering accommodation emerged as the clear preference amongst respondents, followed by bed-and-breakfasts and resorts, reinforcing the importance of flexible, affordable lodging options. The most sought-after activities - boat cruises, hot air ballooning, hiking, zip-lining, and helicopter rides - showcase consumers' desire for variety and scenic experiences. Higher-budget travellers demonstrated distinct preferences for wildlife safaris, wine tours, and whale watching, with premium segments gravitating towards wellness, cultural, and once-in-a-lifetime experiences. Across all demographics and spending levels, value for money emerged as the paramount concern, alongside practical amenities such as complimentary Wi-Fi and proximity to natural environments. Rethinking product and pricing strategies For industry stakeholders, from marketers to regional planners, the report offers clear direction: focus on affordability without sacrificing quality; develop flexible packages that suit families as well as solo adventurers; prioritise authentic local experiences that deliver real bang for buck. "Understanding our domestic market has never been more critical," said David Frost, SATSA CEO. "This research enables our members to make informed decisions about product development, pricing strategies, and market positioning. It's the kind of evidence-based insight that drives sustainable industry growth." The study forms part of Satsa's broader commitment to data-driven industry support and strategic market intelligence. A complementary supply-side report, currently in development with adventure operators, will quantify sector size and performance metrics, creating a comprehensive view of market dynamics from both consumer and operator perspectives. Looking Forward The research comes at a critical time for South Africa's tourism industry as operators seek to understand and capitalise on evolving domestic travel patterns in the post-pandemic landscape. Adventure tourism, recognised globally as one of the fastest-growing segments within the travel industry, represents a significant opportunity for economic recovery and inclusive growth across South Africa's regions. The findings support Satsa's mission to strengthen adventure tourism's strategic position within the country's broader tourism offering, driving inclusive growth, regional distribution, and authentic local experiences. The findings also reinforce the critical role of industry associations in providing market intelligence that enables informed business decisions and strategic planning across the tourism value chain. You can access the full report here.
Globe and Mail
10-06-2025
- Business
- Globe and Mail
Vacation Rental Market to Surpass USD 117.03 Billion by 2032
Cost Efficiency of Vacation Rentals and Rise of Online Booking Platforms to Steer Vacation Rental Market Size Past USD 117.03 Billion by 2032 at 5.7% CAGR – Coherent Market Insights According to Coherent Market Insights, The vacation rental market is estimated to be valued at US$ 79.34 Bn in 2025 and is expected to reach US$ 117.03 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.7% from 2025 to 2032. This industry is fueled by the growing demand for experiential and immersive travel. As travelers increasingly seek personalized and customized vacations, many are choosing full-home or private-room vacation rentals over traditional hotel accommodations. Request Sample Pages: Global Vacation Rental Market Key Takeaways According to Coherent Market Insights (CMI), the global vacation rental market size is projected to expand at a moderate CAGR of 5.7%, reaching USD 79.34 Bn in 2025 and USD 117.03 Bn by 2032. Based on booking mode, offline segment is expected to account for nearly 2/3 of the global vacation rental market share in 2025. By accommodation type, home category is anticipated to hold nearly two-fifths of the global vacation rental industry revenue share by 2025, owing to rising demand for home vacation rentals. In terms of price point, mid-range segment is projected to account for over 36.73 Bn in 2025. North America vacation rental market is set to be valued at around USD 28.72 Bn by 2025. As per Coherent Market Insights' latest vacation rental market analysis, Asia Pacific is expected to exhibit fastest growth. This can be attributed to rising demand for cost-efficient vacation rentals and presence of popular spots for vacation rental properties. Rising Demand for Experiential Travel Fueling Market Growth Coherent Market Insights' latest vacation rental market report highlights major factors fueling the industry's growth. One such prominent growth driver is the increasing demand for experiential travel. Modern travelers, particularly millennials and Gen Z, are increasingly seeking unique and immersive experiences that reflect the local culture. This is expected to drive demand for vacation rentals as they provide authentic accommodations that align better with this trend. Vacation rentals offer home-like environments, flexibility, and opportunities to stay in residential neighborhoods rather than commercial tourist areas. This enhances the overall travel experience by enabling guests to live like locals. Regulatory Challenges and Competition from Hotels Limiting Growth The prospective vacation rental market outlook appears optimistic. However, regulatory challenges and competition from traditional hotels are expected to limit market growth to some extent during the assessment period. Many countries and cities impose strict regulations on short-term rentals, including zoning restrictions and licensing requirements. These regulatory measures are expected to limit expansion of the vacation rental market. Travelers who prioritize a standardized experience often choose hotels as they offer predictable service and amenities. This preference might also lead to reduced vacation rental market demand in the coming years. Impact of AI on the Vacation Rental Market From enhancing personalization to improving guest experiences, Artificial Intelligence (AI) is significantly impacting the vacation rental industry. Its adoption enables companies to deliver more efficient and tailored services to travelers. AI-powered tools help hosts dynamically optimize pricing as well as predict demand and automate guest communications through chatbots. Platforms use machine learning to offer smarter property recommendations, while predictive analytics assist property managers in making data-driven decisions. This increased efficiency not only boosts occupancy rates and revenue but also enhances customer satisfaction. Courtesy of this, AI is becoming a key driver of innovation and competitiveness in the vacation rental industry. Agoda is a recent example of a company successfully integrating AI into its services. In 2025, the company unveiled its AI-enabled Vacation Planner tailored for Indian travelers. This cutting-edge tool instantly generates fully personalized itineraries, making vacation rental planning seamless and highly customized. Rise of Online Booking Platforms Unlocking Growth Opportunities The cost-effectiveness of vacation rentals is acting as a catalyst encouraging their adoption. Vacation rentals often provide more space and amenities at a lower cost compared to hotels. As consumer demand for affordable travel continues to grow, the vacation rental market is expected to benefit significantly. Rising popularity of online booking platforms is expected to create lucrative growth opportunities for vacation rental companies. Platforms like Vrbo and Airbnb are making it easy for travelers to find, compare, and book rentals globally. They also empower property owners to list and manage their properties. Emerging Vacation Rental Market Trends Growing popularity of remote work is set to positively impact the global vacation rental market value. Many remote workers prefer vacation rentals for long-term stays or as comfortable, quiet workstations away from traditional offices or crowded hotels. Sustainability is emerging as a key growth-shaping trend in the vacation rental industry. Eco-conscious travelers are prioritizing green accommodation, prompting hosts to adopt sustainable practices like solar energy and eco-friendly products. Rising popularity of hyper-personalization is significantly impacting growth of vacation rental sales. Modern travelers increasingly seek customized experiences, right from local recommendations to curated itineraries and personalized amenities. This is driving demand for vacation rentals that offer a more individualized stay. Leading vacation rental platforms are integrating advanced technologies like IoT devices and smart tech to enhance guest convenience and security. This technological integration is anticipated to provide a strong thrust for the growth of vacation rental market. Analyst's View 'The global vacation rental market is poised to record moderate growth, owing to resurgence of global travel and tourism, rising preference for experiential travel, and expanding use of online booking platforms,' said a senior analyst at CMI. ' Cost-efficiency of vacation rentals is also contributing to their growing popularity and demand.' Current Events and Their Impact on the Vacation Rental Market Competitor Insights Key companies listed in vacation rental market research report: - Hotelplan Management AG - Yatra Online Private Limited - - OYO Hotels & Homes - Hotwire, Inc. - Agoda Company Pte. Ltd. - Inc. - HotelsCombined - KAYAK - - Google - Booking Holdings Inc. - LLC - Airbnb Inc. - Hotelplan Holding AG - Expedia Group Inc. - MakeMyTrip Pvt. Ltd. - Oravel Stays Pvt. Ltd. - NOVASOL AS - TripAdvisor Inc. - Wyndham Destinations Inc. Buy this Complete Business Research Report: Key Developments In April 2025, Garnett Station Partners launched Stayterra, a newly formed premium vacation rental management collection. Stayterra aims to provide elevated, professionally managed vacation rental experiences in highly sought-after destinations across the United States. In March 2025, MakeMyTrip introduced a new AI-powered feature called Collections aimed at personalizing homestay and hotel discovery for users. The new feature uses artificial intelligence as well as traveler insights to provide tailored recommendations, thereby enhancing user experience. In March 2025, Vrbo unveiled its 2025 Vacation Rentals of the Year, an annual collection highlighting ten standout private vacation rentals across the United States. About Us: Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.
Associated Press
23-05-2025
- Business
- Associated Press
KSL Capital Partners Has Taken a Majority Stake in Soneva
DENVER, May 23, 2025 /PRNewswire/ -- KSL Capital Partners, LLC ('KSL'), a leading alternative investment firm, today announced that an affiliate has taken a majority interest in the Soneva Group ('Soneva'), a pioneer in sustainable luxury hospitality since 1995 with award-winning resorts in the Maldives, following the exercise of its right to convert certain securities. The transaction builds on the firm's initial minority investment in November 2019 and underscores KSL's continued conviction in Soneva's long-term strategy and differentiated approach to ultra-luxury experiential travel. To help lead the next phase for Soneva, Neil Gallagher has been appointed Chief Executive Officer of Soneva. A seasoned international hospitality leader, Mr. Gallagher brings more than two decades of experience across Europe, the Middle East, the U.S. and the Caribbean. He previously served as CEO and CFO of Clermont Hotel Group (formerly glh Hotels Management) and held leadership roles at IHG Hotels & Resorts, including CFO, Europe. Earlier in his career, Mr. Gallagher held leadership positions at Marriott Vacation Club International. About Soneva Founded in 1995, Soneva is a pioneering, award-winning luxury resorts operator. At Soneva Fushi, Soneva Jani, Soneva Secret and the Soneva in Aqua yacht in the Maldives, true 'luxury' is defined by peace, time and space. Guests discover the SLOW LIFE, reconnecting with themselves and the natural world through rare, unforgettable experiences. Soneva is a pioneer for responsible tourism, combining sustainability with exquisite hospitality and intuitive, personalized service. About KSL Capital Partners KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; New York, New York; and London, England. KSL invests across three primary strategies through its equity, credit and tactical opportunities funds. KSL's current portfolio includes some of the premier properties in travel and leisure. KSL has spent more than three decades investing in luxury and experiential travel, building a leading global portfolio of high-end resorts, destination experiences and hospitality brands. With deep sector expertise and an expansive international footprint, the firm brings significant scale and experience to the global Travel & leisure sector, along with differentiated insight into the ultra-luxury hospitality market. For more information, please visit Media Contact Kate Thompson / Erik Carlson Joele Frank, Wilkinson Brimmer Katcher [email protected] (212) 355-4449 View original content: SOURCE KSL Capital Partners
Hospitality Net
22-05-2025
- Business
- Hospitality Net
PM Hotel Group Further Expands Its Lifestyle Division, Modus by PM Hotel Group
PM Hotel Group, a Top-15 hotel management company with a proven track record of delivering extraordinary guest experiences and strong owner returns, has experienced continued strategic growth across its overall portfolio, including its lifestyle and unconventional hospitality division Modus by PM Hotel Group. With a focus on authentic and immersive destinations, the company has significantly expanded its presence in key markets, targeting today's independent-minded travelers seeking hotel stays that connect people and place. "At PM Hotel Group, we're not just growing our portfolio—we're carving out a unique space in the lifestyle segment through our Modus by PM Hotel Group division by developing and operating properties that deliver bold and authentic hospitality experiences," said Paul Sacco, Chief Growth & Development Officer, PM Hotel Group. "From nature-centric escapes to city adventure hubs, we're curating a collection of hotels that are anything but ordinary. These destinations compliment PM Hotel Group's overall portfolio of 92 hotels nationwide, both branded and independent properties." A Dynamic Roster of New Additions to the Lifestyle Portfolio Over the past year, PM Hotel Group has thoughtfully expanded its distinctive lifestyle portfolio with properties that reflect deep expertise in experiential hospitality. The division has strategically expanded into high-demand outdoor destinations with evo Hotel Salt Lake Cit y and evo Hotel Tahoe City—urban basecamps for adventure seekers looking to explore the surrounding landscapes without compromising on comfort or design. On the shores of Honolulu, the Queen Kapiʻolani Hotel delivers vibrant, locally inspired hospitality just steps from Waikiki Beach, offering breathtaking Diamond Head views. In Northern California's wine country, Dr. Wilkinson's Backyard Resort & Mineral Springs in Calistoga offers a reimagined take on wellness, blending mid-century charm with healing mineral waters and spa rituals. In the Southern California entertainment corridor, The Lum Hotel Los Angeles Stadium District is converting into a Tapestry by Hilton. With rooftop dining, resort-style amenities, and its prime location steps from SoFi Stadium and the Intuit Dome, The Lum Hotel captures the energy of LA's sports and entertainment scene. Set to open in 2025, a new wave of hospitality experiences will further showcase PM Hotel Group's ability to deliver on lifestyle and unconventional hotel management. These projects embrace bold concepts, from regenerative hospitality to introducing a membership-club hotel concept in an untapped destination: RESET Joshua Tree , opening May 2025, is a desert retreat built from custom shipping containers, focused on high design and wellness inspired by its natural surroundings. , opening May 2025, is a desert retreat built from custom shipping containers, focused on high design and wellness inspired by its natural surroundings. Hotel Burg , opening summer 2025, offers a members' hotel experience, inviting locals and DC visitors to a modern hunt country destination in one of America's most celebrated small towns, Leesburg, Virginia. , opening summer 2025, offers a members' hotel experience, inviting locals and DC visitors to a modern hunt country destination in one of America's most celebrated small towns, Leesburg, Virginia. Nightsky San Luis Obispo, opening late fall 2025, is a glamping retreat with 35 design-forward tents, rooted in experiences that foster community building and connection to nature. The growth of PM Hotel Group's lifestyle portfolio is driven by shifting guest preferences, visionary ownership groups, and a commitment to delivering standout, experiential hospitality properties across a range of markets. Redefining Lifestyle Hospitality Management Through its Modus by PM Hotel Group division, the company offers a specialized platform that pushes hospitality boundaries while combining strategic commercial leadership with operational excellence. Backed by PM Hotel Group's scale and expertise, Modus delivers distinctive guest experiences in high-demand destinations where culture, wellness, and outdoor access drive guest satisfaction. "In today's hospitality landscape, travelers are looking for meaning, not just amenities," said Adam Gollance, President, Modus by PM Hotel Group. 'We're meeting this demand by cultivating a portfolio of hotels that offer discovery, design, and a deep sense of place—properties that connect guests with new experiences through wellness, fitness, dining, and entertainment to make each stay unforgettable." With a national footprint now spanning from the beaches of Honolulu to the red rocks of the desert Southwest and the peaks of Lake Tahoe and wine country Virginia, PM Hotel Group is not only expanding geographically—it's setting the pace for what comes next in lifestyle hospitality by combining spirited individuality with proven management expertise. About PM Hotel Group Based in the Washington D.C. metro area, PM Hotel Group is a Top-15 hotel management company, boasting nearly three decades of experience building relationships with brands, partners, and third-party hotel owners. Involved in the development and acquisition of more than $3 billion in premium-branded and independent hotel properties from coast to coast, PM Hotel Group now operates approximately 85 hotels and resorts across the United States, including Modus Hotels by PM Hotel Group, its division of lifestyle and unconventional hospitality. Operating with a commitment to sustainability and a long-standing culture of teamwork, innovation and entrepreneurship, the PM Hotel Group team is driven to deliver robust performance for owners. For more information, visit or follow along on Instagram @pm_hotelgroup and Facebook at
Hospitality Net
07-05-2025
- Business
- Hospitality Net
Cheryl Cheney Bunker has been appointed Senior Vice President, Global Memberships at Virtuoso
Virtuoso, the global leader in luxury and experiential travel, continues to see record growth across the nine regions worldwide in which it operates. With an eye toward better serving the varied needs of its rapidly expanding member and partner base, the company is announcing changes within its Senior Leadership Team and a strategic realignment designed to reflect Virtuoso's consistent focus on shaping the future of luxury travel. Virtuoso has named Cheryl Cheney Bunker as senior vice president, global memberships. An industry veteran with more than 25 years' experience, Bunker has been with Virtuoso since 2007, heading up teams that work hand-in-hand with Virtuoso member agencies and advisors to maximize engagement and drive preferred partner sales. Most recently, Bunker served as vice president, global member relations, providing leadership, management and strategic direction for the team responsible for over 1,200 travel agency locations and more than 20,000 travel advisors in 58 countries across North America, Latin America, the Caribbean, Europe, Asia-Pacific, Africa and the Middle East. In her expanded role, Bunker will be responsible for setting the strategic direction and oversight of Virtuoso's global membership. In this pivotal role, she will look to drive sustained growth, deepen member engagement and reinforce Virtuoso's leading brand position across all regions by upholding and evolving Virtuoso's rigorous membership standards. Bunker's role took effect as of May 1 and she will continue to office from Windermere, Florida.
