Virtuoso presents annual report at its Greater China/North and Southeast Asia Forum
Luxury and experiential travel network Virtuoso presented a report on yet another record-breaking year at its annual Greater China/North and Southeast Asia Forum at the MGM Shanghai West Bund.
The event which runs from the 11th to 12th March brought together over 160 attendees, including owners and managers from the network’s travel agency members in Greater China and North and Southeast Asia, and preferred partners from around the world.
Attendees had the opportunity to hear from Virtuoso executives during various presentations and participate in professional development sessions, where they engaged in meaningful peer-to-peer conversations and exchanged ideas and best practices.
Session topics ranged from the evolution of luxury travel in China to boosting cruise sales, navigating the new media landscape, tailoring advisor skills for selling luxury travel in Asia and more.
An exceptional year
Virtuoso senior vice-president Michael Londregan addressed members and partners at the event, presenting key trends and insights.
He revealed that 2024 was another record-breaking year for the Virtuoso network with sales surpassing 2019 numbers by 239 percent and significantly outpacing the leisure travel industry, which has grown an average of 125 percent in the same timeframe.
Londregan also noted that while traveller interest in Japan, specifically Tokyo and Kyoto, remains robust, the network observed travellers are branching out beyond the popular cities.
Among the emerging destinations in the region is Bhutan, which has seen a nearly 200 percent increase in leisure hotel sales in 2024 compared to 2023.
Additionally, Londregan discussed “The White Lotus Effect.” After season two of the popular TV show aired in October 2022, Virtuoso data showed a 424 percent spike in sales to Sicily. Season three of The White Lotus aired last month based in Koh Samui, Thailand, and the network anticipates the destination is poised for significant growth.
Humanising the exceptional
Virtuoso chairman and CEO Matthew D Upchurch took the stage at the event’s General Session and emphasised the importance of a concept that is foundational to Virtuoso: humanising the exceptional.
In his remarks, Upchurch declared: “Since 2010, our core purpose has been to enrich lives through human connection. Some may have thought it was just a slogan or feel-good sentiment, but it turned out to be our most defensible business model and the defining element of what Virtuoso advisors offer. Interacting with other people is not a desire, but a human need. Travel is a key vehicle for these interactions and exactly why the work of our advisors has never been more important.”
Referencing Scott Galloway’s newsletter No Mercy / No Malice, Upchurch continued, “One of my favourite newsletters says, ‘People are the new brands.’ Statistics show that social media posts that include human faces receive higher engagement, and people view their favourite influencers as friends. That’s called the Parasocial Phenomena, and it translates to our industry because travel advisors are influencers in their own right. But they are not parasocial influencers; they’re real ones. This further proves that advisors are relationship marketers that land sales, not just another form of distribution.”
Steady growth in two major regions
Attendees also heard from Virtuoso vice-president for global member relations Cheryl Cheney Bunker, who shared key updates on the network’s membership.
In her remarks, Bunker said: “At Virtuoso, we are deeply committed to our members’ success by fostering meaningful relationships, providing innovative resources and empowering them to thrive in an ever-evolving travel landscape.”
She expressed pride in the network’s recent growth in the region. Virtuoso’s Asia regions led the network last year by welcoming ten new agency members, including seven in Greater China alone. This increase reflects the region’s substantial influence on luxury travel.
In 2024, Virtuoso installed a dedicated team for North and Southeast Asia in addition to its established team within Greater China, allowing the network to better serve the varying needs of agencies, partners and travellers.
As Virtuoso marks its 10th anniversary in Greater China, Irene Lee, Virtuoso general manager for Greater China, joined industry leaders on stage to discuss emerging trends, market opportunities and evolving luxury traveller preferences.
Raymond Ang, Virtuoso general manager for North and Southeast Asia, likewise shared insights on successful strategies for engaging high-end clients and impactful luxury travel marketing campaigns.