The Rise of Hospitality in Modern Luxury

By lodha

As the world of luxury has shifted away from a high price tag and brand/product-centricity and more towards customization and unique experiences, hospitality has certainly come to the forefront. According to Bain & Company, "luxury experiences" made of for 29% of the total global luxury market, surpassing the growth rate of total personal luxury goods segment in 2016. The main reason for this is that the hospitality sector, which includes categories such as luxury hotels and fine dining, is the best place to create experiences that are truly rare and personalized.

Dr. Suzanne Godfrey, expert in the area of luxury hospitality, said in her article The Long Read: Redefining Luxury in Hospitality, "It may be extreme and a bit over the top in a natural way that is fitting to the brand, its values and cultures. Ultimately, hospitality -- in whatever form -- provides an excellent opportunity for luxury brands to create memorable experiences and engage their clientele on a regular basis."

This ability for the hospitality sector to create experience that the modern luxury customer craves has encouraged several personal luxury goods brands to venture into the hospitality sector. Brands such as Armani for example, who are thoroughly known for their brilliant contributions and innovations in the personal luxury goods sector are now setting up hotels, private residences, and cafes despite not having any history with hospitality whatsoever.

Often overlooked is the rise of hospitality within the private luxury residences. Creating rare and unique experiences in one-off events or temporary occasions is one matter, but to create this level of personalization in the everyday lives of luxury customers is a completely different challenge. Lodha's in-house hospitality delivers this experience to its residents on a daily basis. Personalisation goes above and beyond to celebrate special occasions and milestones with the residents, paying close attention to their preferences and handling unique requests.