Luxury Travel Advisor - October 2008 - (Page 6)

EDITOR'S LETTER The New Economy, the Next Generation and the Lunch of a Lifetime ith Wall Street in crisis, consumer behavior is changing, and understandably so. The instability in the financial landscape is, by far, the most dramatic we’ve witnessed in years. Here’s how some of it’s trickling down. Crain’s New York reported that consumers are already “buying down” in light of the city’s trials and tribulations. One wine store operator noted that rather than purchasing a $22 bottle of wine, customers are dipping down into the $16 to $17 range. It’s still not clear whether customers are trying to save dollars or simply spending them elsewhere (the same liquor store owner noted that sales for spirits, such as vodka and scotch, were up 5 percent over the past two months). Meanwhile, Reuters reported that British nannies are becoming a luxury, particularly as their former big-money bank employers face potential unemployment. And, the most senior of baby boomers, all set to retire in the coming years, may have to continue to work considering that their 401(k) plans, as well as the value of their homes, likely took a dip in value over the past few months. Note that these are merely shifts in consumer behavior. I find it unlikely that your clients will stop traveling altogether. Your task will be to help W them find value in their experiences when they do take a vacation. On a lighter note, we all know that the need to pump new blood into the industry is of dire importance. Aside from the fact that most travel agencies need a succession plan when their owners retire, suppliers need to be assured that the travel agency distribution channel will remain robust and viable in the years to come. One success story along these lines is Coastline Travel Advisors (profiled in this issue’s cover story, beginning on page 46) in Orange County, CA, where Jay Johnson has assembled a team of young, vibrant and highly professional travel advisors. To get to where he is now, Jay had to take a gamble or two. He hired individuals who had no experience selling travel. When he did hire, he had to hire smart, by being able to spot out intelligence and passion. His efforts paid off. As he built his new staff, Jay was able to show to other prospective young agents that Coastline Travel Advisors was a fun place to work. By the way, I’m pictured here with Michela Nicosia, the assistant manager of Hotel Splendido in Portfofino, Italy, where I stopped over while sailing on Crystal Serenity this summer. Visiting this amazing Orient-Express property, which is perched above the Mediterranean in one of the prettiest spots in the entire world, is a must for anyone traveling to this charming Italian village. During my stay, I was able to enjoy the lunch of a lifetime with exquisite service and meet up with a few new friends (see page 77). You’ll be reading more on this amazing adventure in a future issue of Luxury Travel Advisor. RUTHANNE TERRERO, CTC Vice President-Content/Editorial Director rterrero@questex.com 6 LUXURY TRAVEL ADVISOR | October 2008

Table of Contents Feed for the Digital Edition of Luxury Travel Advisor - October 2008

Luxury Travel Advisor - October 2008 Contents Publisher's Letter Editor's Letter Glasgow Greece & Cyprus Private Islands Park Hotel Weggis Mexico Private Yachts MS Europa Coastline Travel Awards of Excellence The Pulse Just Back Luxury Travel Expo Sightings Source List

Luxury Travel Advisor - October 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.