As mainstream travel demand softens, the world’s most exclusive hotels are increasingly concentrating their efforts on ultra-wealthy guests, reshaping their business models around elevated pricing, personalised service and highly curated experiences designed to meet the expectations of high-net-worth and ultra-high-net-worth travellers.
Across the global hospitality sector, the strongest performance is coming from the very top end of the market. Revenue per available room at the most expensive hotels increased by 10.6 per cent last year — more than triple the growth recorded across the wider hotel industry — according to data cited by the Financial Times from analytics firm CoStar.
At the same time, average daily rates for ultra-luxury accommodations climbed to $1,245, representing an increase of more than 8 per cent compared with 2024. Occupancy levels also edged higher, rising by 2.3 per cent, signalling that affluent travellers remain largely unfazed by rising prices.
These figures highlight a growing divide within the travel market. While price-sensitive consumers are cutting back, wealthier guests continue to prioritise premium travel experiences and appear willing to absorb higher costs in exchange for exceptional service and exclusivity.
Industry reports suggest that hotel operators are actively pivoting towards this segment. With operating expenses climbing and labour shortages persisting, many luxury properties are choosing to prioritise revenue per room over volume. By welcoming fewer guests at higher rates, hotels are able to deliver more attentive, high-touch service — an approach that aligns with the elevated expectations of ultra-wealthy clientele and supports sustained performance at the top end of the market.
Ultra-high-net-worth individuals (UHNWs) are also redefining what luxury means in practice. Increasingly, they are prepared to pay a premium for experiences that feel deeply personal, thoughtfully designed and purpose-driven, rather than generic or formulaic.
Speaking to Spear’s, Scott Dunn Private head Jules Maury explained that while preferred destinations may differ, UHNW travellers share common expectations. These include travel experiences with emotional depth, delivered through relationship-led service models built on discretion, trust and continuity — elements clients are increasingly willing to invest in.
This shift is influencing not only how luxury hotels operate, but also how they design experiences beyond their physical properties. Mandarin Oriental vice president of customer experience Andrew Cleary noted that contemporary luxury is now defined by “depth, context and connection,” reflecting a desire for more meaningful engagement with place and culture.
Similarly, The Luminaire chief executive Adam Sebba highlighted growing demand for highly curated journeys that take guests beyond the confines of their hotel rooms, offering access to rare, destination-specific experiences that cannot be easily replicated.
For Winged Boots managing director David Ox, this evolution reflects a broader recalibration of value. UHNW travellers, he said, are willing to spend generously on experiences that feel emotionally significant and genuinely unique, while becoming increasingly selective — and dismissive — when offerings lack originality or substance.
Expectations around wellness have also intensified. High-end wellness, once considered a differentiator, is now widely viewed as a baseline requirement within the ultra-luxury ecosystem. Guests increasingly assume access to exceptional spa facilities, intelligent nutrition programmes, sleep optimisation, discreet medical support and holistic restoration, even when wellness is not the primary purpose of their trip.
“The absence of these elements is far more noticeable than their presence,” Ox explained, pointing to a growing segment of clients actively seeking personalised longevity programmes, advanced diagnostics, preventative healthcare solutions and bespoke wellness itineraries.
That sentiment is echoed by Unforgettable Travel Company co-founder Graham Carter, who noted that what was once considered exceptional has now become standard. Wellness components — from spa treatments and outdoor activities to meditation and sleep optimisation — are increasingly expected rather than requested.
Luxury hotel developments around the world are responding accordingly. New properties and renovations are placing wellness and biohacking at the centre of the guest experience. Six Senses London, set to open in March 2026, will feature an expansive spa offering that includes cryotherapy, flotation therapy, heat and water journeys, saunas, steam rooms, plunge pools, sensory showers, a Biohack Recovery Lounge, an Alchemy Bar and even aerial yoga.
Meanwhile, Lake Como EDITION, also opening in March 2026, will introduce a Longevity Spa with lakeside biohacking treatments and an indoor thermal pool. In Japan, Aman Niseko, currently under development, will feature private onsens in every suite, alongside Watsu water therapy and Finnish saunas.
As mass-market travel continues to face headwinds, the ultra-luxury segment is doubling down on what it does best: exclusivity, depth and hyper-personalisation — redefining luxury not through scale, but through meaning, experience and exceptional attention to detail.
