Luxury Travel Network Blazes New Trail with Cryptocurrency Acceptance

MARCO ISLAND, FL (September 27, 2024): With demand for both luxury travel experiences and travel advisors rising, invitation-only luxury marketing group The Affluent Traveler Collection has accepted new high-quality agencies and prestigious partners to stay ahead of the preferences of upscale consumers.

ATC is now 361 agencies strong, with 26 additions this year – a seven percent growth rate. As the affluent travel market continues to expand, more agencies are developing a luxury specialty and meeting ATC’s requirements for acceptance. All agencies affiliated with American Marketing Group networks are able to promote and sell the upscale suppliers that are part of The Affluent Traveler Collection.

Luxury Travel Expansion

The global?luxury travel market size?was estimated at $1.38 trillion last year, according to Grand View Research.?It is expected to grow at a rate of 7.9 percent from 2024 to 2030, when it reaches $2.33 trillion.  

While high-net-worth individuals with assets between $1 million and $30 million dominate the luxury travel space, there is notable growth among travelers with net worths between $100,000 and $1 million. According to McKinsey, these aspiring luxury travelers are now 35 percent of the market and are increasingly spending on upscale trips.

As the luxury travel market increases, so does the pool of affluent consumers who want to partner with a travel advisor. A Flywire survey reports that 92 percent of luxury travelers have used (or will likely use) a travel advisor for trips in the next 18 months.

“Many upscale travelers know they will enjoy a superior vacation experience working with an advisor,” said ATC Chief Marketing Officer Nicole Mazza. “With our growth in agencies and partners, combined with our exclusive amenities and booking innovations, we’re positioning The Affluent Traveler Collection as the premier choice for luxury travelers. Our professional travel consultants provide enhanced value, outstanding service, personalized experiences and peace of mind to their clients. In return, advisors earn their clients’ priceless loyalty.”

Cryptocurrency Acceptance

ATC and other American Marketing Group companies are the first travel agency networks to accept cryptocurrency as payment for vacations. All ATC agencies can now benefit from this competitive advantage and use AMG’s proprietary tripXpress platform to process crypto transactions.

Cryptocurrency is a huge, expanding opportunity for the travel industry, yet very few businesses accept it as payment for trips. Cryptocurrency is a $2 trillion market with 220 million owners. There are more than 172,000 crypto millionaires, up 95 percent from 2023. The typical crypto user is an affluent millennial who travels often and seeks upscale vacation opportunities – the same demographic that is increasingly seeking the services of a travel advisor.  

Luxury Supplier Growth

The portfolio of luxury-focused preferred suppliers has expanded to accommodate demand for authentic experiences in less-discovered locales. The network has added two upscale cruise lines: Crystal and Scenic Group. The intimate small-ship and yacht experiences offered by these lines align with affluent client preferences today.

To provide more personalized, immersive experiences, the network’s OnLocation program has added 19 Abercrombie & Kent DMCs around the world. The OnLocation program now features 49 partners covering more than 100 destinations, bringing their expertise, knowledge and connections to ATC advisors and their clients.

Micato Safaris is another notable addition to the supplier collection. Micato has set the industry standard for luxury, service and philanthropy for nearly five decades in East Africa, Southern Africa and India.

ATC Hotel Collection

The ATC hotels and resorts portfolio has expanded strategically this year, focusing on quality over quantity. The collection now stands at 1,200 hotels, 24 percent larger than last year’s figure. Two new portfolio subsections include villas and residences along with wellbeing.

This year, ATC has accepted properties in up-and-coming locations such as Grenada and Oman, as well as affluent favorites including New York, London and Venice. New additions include properties from luxury hoteliers such as Raffles, Six Senses and Waldorf Astoria. The Radisson Collection is ATC’s newest brand-level partnership, in addition to Marriott STARS & Luminous and IHG Luxury & Lifestyle.

“Today’s affluent travelers want the property to be a part of their immersive experience in each destination,” said Ed Donaldson, ATC Vice President of Sales. “They’re looking for properties that capture the distinctive spirit of the place. As a result, we’re accepting boutique properties into the collection located in in-demand places and emerging destinations.”

ATC hotel amenities have been enhanced for 2024, with daily breakfast and a value-add feature now applicable per bedroom, not per reservation. The amenities are worth an average of $1,000 per stay and offer:

• Complimentary breakfast daily for two guests per bedroom
• A local value-add amenity worth $100 per bedroom

• One category room upgrade if available

• Complimentary Wi-Fi

• Early check-in/late check-out if available 

• Personalized welcome note from the general manager 

Affluent Traveler Magazine

ATC’s twice-yearly magazine, The Affluent Traveler, has returned to print as well as its digital format. In addition to traditional outlets, the magazine is available in Delta Air Lines and United Airlines airport lounges, over 100 private jet terminals, and newsstands across North America.

Award Winners

Symposium’s awards ceremony recognized ATC’s finest agencies and preferred partners of the year.

The ATC Chairman’s Awards were distributed for exceptional achievement in agency sales:

• Altair Travel (TRAVELSAVERS US)
• Scott & Thomas Travel Personalized (NEST)

The ATC Soaring Eagle Award for superior agency sales growth was presented to Polar Dream.

Presented by the ATC leadership team, the ATC Chairman’s Award was given to Silversea Cruises. This honor recognizes a preferred partner who has excelled in building strong relationships, offering innovative solutions, and delivering exceptional experiences for clients and advisors.

The Partner of the Year Awards are selected by ATC advisors. These partners have demonstrated exceptional commitment, outstanding service, and a strong dedication to supporting the advisor community. These partners consistently go above and beyond to elevate the luxury travel experience:

• Luxury Cruise Partner of the Year – Regent Seven Seas Cruises
• Luxury Specialty Cruise Partner of the Year – AmaWaterways
• Luxury Guided Tour Partner of the Year – Tauck
• Luxury FIT Partner of the Year – Classic Vacations
• Luxury OnLocation Partner of the Year – Travelive
• Luxury Destination Partner of the Year – Greece
• Luxury Hotel Partner of the Year – Marriott STARS & Luminous
• Luxury Resort & Spa Partner of the Year – The Boca Raton

ATC Symposium took place at JW Marriott Marco Island Beach Resort September 24-27.  Approximately 270 agency owners, managers and advisors, along with top preferred suppliers and staff, attended sessions, 1:1 meetings, a trade show and networking receptions and meals. The insights and connections they left with will help them take their luxury businesses to new heights. For more about ATC, visit www.theaffluenttraveler.com.

About The Affluent Traveler Collection

The Affluent Traveler Collection is an elite luxury marketing organization that provides its invitation-only advisors with superior products and services including award-winning marketing, cutting-edge technology, premier events, high-touch consulting and training opportunities. Through its long-standing partnerships with the world’s finest travel suppliers, Affluent Traveler Collection specialists enjoy access to unique products, enriched amenities and exclusive offers.  Advisors draw on their extensive expertise to curate once-in-a-lifetime luxury travel experiences tailor-made for the preferences of their discerning clientele. They are passionate about building trusted relationships with VIP clients and exceeding expectations for service and satisfaction. For more information, visit www.theaffluenttraveler.com.