Panellists at Leaders of Luxury agreed that there had been an increase in both client spend and expectation post-pandemic. 

Lisa Fitzell, managing director of Elegant Resorts and If Only, said both brands had exceeded expectations this year and were consistently “way above” budget every month. 

Elegant Resorts’ average booking value has increased from £15,000 to £22,000 while If Only’s has jumped from £8,000 to £14,000.

Fitzell said £100,000 bookings were coming through Elegant Resorts “every week” rather than six-weekly as they did pre-pandemic. Its biggest booking this year was worth £500,000. 

“People have got more money to spend - it’s big multigenerational bookings, [clients] taking the top suites - and there's no sign of a let up right now,” she said.

“We know that the recession is looming and things are happening with the cost of living, but we're definitely not seeing that. 

“Clients are spending more money, but their expectations are higher. We've all had a bit of a reset post pandemic and if people have got money, they feel like they've got less time than they've ever had before, so they're going to spend it.”

Fitzell said current demand for concierge services is “huge”, prompting Elegant Resorts to “completely restructure” its concierge team and add more staff. The brand has also increased services like its exclusive airport offering which includes meeting clients straight from the plane. 

“Everywhere is busier, especially in Europe,” she said. “If you don't book the restaurants before you go, you won’t be getting in so it’s all hands on deck doing more concierge.

“People also want the experiences. When you book with a luxury travel company, you want the bells and whistle and they want all the little extras.”

The trend is also reflected in the private jet sector, which saw rapid growth over the pandemic as commercial airlines ground to a halt. 

Matteo Atti, executive vice-president of marketing and innovation for VistaJet, said taking bookings was now a much “slower” process due to an increase in requirements and adjustments from clients. 

He said: “What has changed the most is people are happy to spend, they're ready to spend, but they want incredible quality for it. And I think that the notion of luxury has changed dramatically. It's not just a little bit of pampering, we're now talking experience, we're talking excellence. So all the brands that have positioned themselves as the ultimate level of service are benefiting from it.

 “There's a lot more demand for personal services, there's a lot of demand for ‘you need to listen to me, you need to change your product around me.’ And I think that is why private aviation helps because it's an industry that is built around the fact that it is a one-to-one service.”

He added: “It's not about the extravagant anymore. I think we’ve passed the extravagant and we’re moving to the adding small value to every minute.”

Atti said the private aviation sector is currently “through the roof”, with VistaJet expecting to be sold out for summer season very soon. 

He said the charter market is currently “very competitive”, with some routes on some days up 50-70% compared to a few years ago. 

He added that while the cost of living crisis won’t directly affect the private jet company’s affluent clientele, rising fuel prices had left a couple of clients a little “grumpy”.

“But it doesn’t stop them,” he added. “Commercial is not an option these days if you want a stressless experience.”

Kyp Charalambous, vice-president of sales at Atlantis Dubai, also reported a rise in demands from high-end travellers and said the hotel brand had capped occupancy at around 80% to ensure it is meeting the growing demands of its customers. 

He said: “Every resort has the choice. Do you really push the envelope and go to full 100% occupancy, or do you have a level that is sensible for the customer experience to be the best?

“At Atlantis Dubai, we're really content at 80-81% occupancy to ensure that we deliver that service that is now expected over and above previous years.”