At this year’s BITAC Independent in Fort Myers, FL, August 6th to 8th, 2023, Adam delivered a keynote speech on “The Mille Club” where he described the psychology behind what’s required to achieve a four-digit ADR as supplemented by a plethora of examples from around the world.

Some takeaways:

• With great rate comes great expectations
• Keeping the relative rate increase constant, the nominal price increases substantially to buffer opex
• Luxury travelers think differently about how they book their travel in terms of channel distribution
• Mille club hotels have to rethink their comp sets in terms of geography and transportation
• Luxury travelers are motivated by exclusive experiences
• Wellness is becoming a critical component of luxury travel and brand loyalty
• Luxury properties are all about the details, details, details

Check out the full coverage over at Hotel Interactive.