The Resonance Report is a biennial study of the travel and leisure habits of affluent American households by Resonance Consultancy, a leading global travel and tourism consulting firm that monitors travel and leisure trends. The study, conducted in conjunction with the Luxury Institute in New York, surveys more than 1,200 individuals from households with incomes of $150,000 and higher every two years to measure their travel and leisure preferences and aspirations. These affluent households account for almost a third of all domestic spending on lodging and air travel, according to recent estimates in the U.S. Bureau of Labor Statistics’ Consumer Expenditures Survey.

1. The Resonance Report 2013
U.S. Affluent Travel and Leisure
resonanceco.com

2. Overview
• In December 2012, a national sample of 1,232 wealthy consumers was surveyed
in depth online by the Luxury Institute on behalf of Resonance Consultancy
about their aspirations, lifestyles, leisure and retirement pursuits.
• Respondents were recruited and screened to only include those age 21 or older
with a minimum gross annual income of $150,000. No minimum was set for net
worth, but the data was captured.
• These results are intended to provide important insights that can guide decision-
making and best practices implementation for companies and brands that cater
to wealthy consumers.
• Please be advised that your use of this Resonance Consultancy Ltd. document
constitutes your agreement to (i) use the content under a limited license only for
your own internal purposes, and (ii) not disclose, publish or otherwise make
public or provide the content, in whole or in part, to any third person or entity
without the prior written consent of Resonance Consultancy Ltd. The content is
and remains at all times the exclusive intellectual property of Resonance
Consultancy Ltd. Copyright © 2013 Resonance Consultancy Ltd.
2

3. Who is Affluent?
3

4. $150K
MEDIAN INCOME
AMERICANS SAY A FAMILY
OF FOUR NEEDS TO FEEL
WEALTHY: $150,000
(Pew Research Center)
4

5. 10.6 million
(9% of Households)
with Income $150k+
5

6. 6

7. 7

8. 8

9. Why are they
important?
9

10. U.S. Bureau Labor Statistics 2011 Consumer Expenditures Survey
10

11. 11

12. What do they
want?
12

13. 13

14. 14

15. 15

16. Where are they
going?
16

17. 17

18. Top 10 U.S. Travel Destinations*
1. New York, NY
2. Las Vegas, NV
3. San Francisco, CA
4. Washington, DC
5. Orlando, FL
6. New Orleans, LA
7. Chicago, IL **
7. Maui, HI **
7. Miami, FL **
7. San Diego, CA **
*As defined by Metropolitan Statistical Areas
** Tied for 7th
18

19. Top 10 International Travel Destinations
1. Italy
2. United Kingdom
3. France
4. Canada
5. Caribbean Islands
6. Australia
6. Germany
8. Spain
9. New Zealand
9. Mexico
27%
21%
19%
16%
15%
13%
13%
12%
10%
10%
19

20. 20

21. 21

22. 16%
16%
15%
11%
10%
9%
8%
7%
6%
6%
1. Hawaii
2. North Carolina
3. Miami or South Florida
4. Las Vegas
5. Orlando/Central Florida
6. South Carolina
7. Caribbean Islands
8. Europe
9. Northern California
10. Arizona
Top 10 Locations for
Vacation Homes
22

23. What kind of
accommodations
do they prefer?
23

24. 24

25. 25

26. 26

27. What kind of trips
are they planning?
27

28. 28

29. What amenities are
most important?
31

30. 30

31. 31

32. What activities do
they pursue?
32

33. 33

34. 34

35. Vacation Homes
35

36. 36

37. Between 1990 and 2000, population aged 45 to 54 grew by 49%
Between 2000 and 2010, population aged 45 to 54 grew by 19%
Between 2010 and 2020, population aged 45 to 54 will decrease by 8%
U.S. Census Bureau
37

38. Percentage of Affluent Households Owning Vacation Property
Vacation home
Vacation condominium
Hotel condominium
Timeshare
Private residence club membership
Destination club membership
19
7
4
18
8
7
24
11
3
19
10
9
19
8
2
15
4
3
2008 2010 2012
38

39. 39

40. Percentage Currently Considering by Segment
Vacation home
Vacation condominium
Hotel condominium
Timeshare
Private residence club membership
Destination club membership
13
8
4
4
4
4
<55
7
5
2
3
2
2
55+
9
4
2
4
2
2
<$1MM
12
10
5
4
5
4
$1MM+
40

41. 41

42. 42

43. What are their
plans at age 65?
43

44. 44

45. 45

46. Retirement of Affluents at Age 65
A Continue Working
B Retire from my current
field of employment and
pursue other activities
and interests
40
35
30
25
20
15
10
5
0
A B
%
Under Age 65
Age 65 or Older
29%
36%
40%
37%
46

47. Personal Housing at Age 65
Continue to live in our primary
home for the foreseeable future
Downsize to a smaller home/condominium
in the same region as our primary residence
Convert a vacation or investment
property into my primary residence
Relocate and purchase or rent a home
or condominium in a different region
None of the above
% 10 20 30 40 50
42%
55%
12%
9%
5%
2%
16%
10%
21%
27%
Under Age 65
Age 65 or Older
47

48. Key Takeaways
48

49. #1
Vacation Homes & Exotic
Vacations remain two of
the most desired
aspirations for affluents
49

50. #2
While formation of
families is slowing down,
multi-generational
travel continues to rise.
50

51. #3
Affluents love
technology and will
come to expect
sophisticated digital
guest experiences
51

52. #4
1 in 4 affluents plan to
move to vacation home
or relocate at age 65 in
their “flextirement”
52

53. #5
Success tied to product
and amenity innovation
catering to “flextirees”
and multi-multi lifestyles.
53

54. Chris Fair
President
Resonance Consultancy Ltd.
(646) 413-8887
cfair@resonanceco.com
Twitter: @crfair
Download: www.resonancereport.com