If a change is as good as a holiday, then the luxury travel industry is set for an evolution. Ahead of a blockbuster showing in BINGE’s new real estate reality show, Billion Dollar Playground, Luxico founders, Alexandra and Tom Ormerod, share their predictions for the state of travel.
Luxury travel is nothing like it used to be. Once reserved for the upper echelon of society, the segment has skyrocketed in recent years, transforming from a proverbial pipe-dream to a multi-billion-dollar global industry, and it’s only getting stronger. The latest data from international research firm McKinsey suggests that demand for luxury tourism and hospitality is expected to grow faster than any other segment over the next decade, swelling from a USD$239 billion business in 2023 to a predicted USD$391 billion segment by 2028.
But despite what you might think, the rapid rise in luxury travel spending can’t all be chalked up to champagne and caviar. According to Alexandra and Tom Ormerod, founders of Australian hotel and travel experience company Luxico, change is already hitting the industry. As they explain, travellers, both domestic and international, are increasingly prioritising meaningful connections over high-end amenities.
“Australians are redefining luxury travel by shifting their focus from material excess to meaningful, curated experiences,” the husband and wife team explain. “It’s no longer just about lavish amenities; it’s about connection, authenticity, and the story a destination tells.”
New Luxury
Since launching their business in 2013, the Ormerods have witnessed firsthand how priorities change and consumer interests evolve. Across the couple’s burgeoning 200-property strong portfolio of luxurious destinations, immersive experiences have largely overtaken creature comforts. Now, guests look to create lasting memories that embody the physical space rather than extravagant opulence that you can get anywhere.
As Alexandra explains, the goal is not necessarily to compete head-on with luxury hotel chains, but rather to offer something truly unique; whether that be a moment of stillness, a breathtaking view, or a sensory immersion into the local culture.
“It starts with location – prime areas with high demand, where guests can immerse themselves in the best of their surroundings,” Alexandra says. “Features like a pool, stunning views, or seamless indoor-outdoor living are also key, but it’s the intangible elements—a home’s soul, its ability to make guests feel both inspired and at ease – that truly set it apart.”
“Luxury is as much about perception as it is about execution. While the theatre of luxury might involve beautifully styled homes and effortless experiences, the reality is a meticulous operation behind the scenes.”
Billion Dollar Playground
That veil of anonymity is set to be lifted, however, with Alexandra and Tom set to star in BINGE’s new reality real estate series Billion Dollar Playground. Filmed across a series of Luxico properties, the series follows the real-life challenges of living up to the lofty expectations of the ultra-luxury clientele and the dedicated Luxico concierges, chefs, and housekeepers tasked with bringing them to life.
“Our team works tirelessly to ensure every detail is perfect, from coordinating last-minute requests to managing complex logistics,” the Luxico founders explain. “The key is preparation – anticipating needs before they arise and a commitment to excellence. Billion Dollar Playground showcases this balance, offering viewers a glimpse into the artistry and effort that go into creating unforgettable moments for our guests.”
As CEO, Alexandra is on hand to guide the highly trained staff on ‘delivering the impossible’, offering everything from chartered aircraft and Ferraris to bespoke meals and exclusive restaurant access.
“A decade ago, these requests might have seemed extravagant, but today, they’re a reflection of how luxury has evolved,” she explains. “It’s no longer about what’s available; it’s about what’s possible. Our role is to make these dreams a reality, seamlessly and with unparalleled attention to detail.”
Luxury Travel Trends
With the luxury travel market set to soar over the next decade, the timing is right for Luxico. Now, a decade into their journey, Alexandra and Tom Ormerod find themselves at the vanguard of luxury’s new era, one defined by approachable, experience-led offerings rather than traditional opulence.
Ahead of the Billion Dollar Playground premiere, Alexandra and Tom shared their thoughts on the future of luxury travel and how experience-led tourism is fuelling an industry boom.
Quiet Luxury
Over the last five years, the sweeping rise of ‘quiet luxury’ or ‘stealth wealth’ has been well-documented. Television series such as Succession and The Perfect Couple have refocused the sentiment around the true nature of luxury, and the flow-on effects have finally hit the travel market. As Alexandra explains, quiet luxury, while not necessarily a new travel trend, is one that will largely dominate the space for years to come.
“To me, ‘quiet luxury’ is about subtle sophistication – luxury that whispers rather than shouts,” she says. “It’s the understated elegance of a well-curated space, the warmth of thoughtful details, and the joy of an experience that feels both intimate and extraordinary. Creating a sense of place is at the heart of what we do.”
Statistically speaking, the luxury travel expert’s sentiments ring remarkably true. Even in the wake of the COVID travel ban and smack bang in the middle of a cost-of-living crisis, luxury travel is bucking the trend, and it is being fuelled by an emerging powerhouse.
The McKinsey report revealed that 35 per cent of all spending in the burgeoning USD$239 billion segment was powered by travellers with a net worth of between USD$100,000 and USD$1 million.
Unsurprisingly, the affluent class still accounted for around two-thirds of the market, with ‘ultra-high net-worth’ spenders (net worth in excess of USD$30 million) doing the heavy lifting, but the underlying theme is undeniable: travellers are increasingly prioritising depth over breadth.
Slow Travel
With a greater emphasis on place, Alexandra predicts that you will also see a rise in ‘slow travel’ over the next few years. Guests are likely to take a more mindful approach to travel, prioritising deeper engagement with a destination and its community.
While there will always be a place for the tourist hotspots and photo opportunities, the travel expert suggests that intentional exploration will be a major consideration, particularly when it comes to places off the beaten track.
“Over the next five years, we anticipate a rise in slow travel, where itineraries are designed around meaningful moments rather than packed schedules,” Alexandra says. “At Luxico, we’re adapting by curating experiences that cater to these desires, from extended stays to personalised itineraries that celebrate the local community.”
Sustainability
Sustainability will also play a bigger role, with travellers choosing eco-conscious options that align with their values. Ormerod suggests that nature-positive conversation experiences, climate-conscious activities and local community support will be major considerations leading into the next decade. In fact, it’s already playing a role.
“Over the past five years, we’ve seen a growing emphasis on sustainability and biophilic design – spaces that connect people with nature through organic materials, natural light, and greenery,” she says.
“There’s also been a shift toward multifunctional spaces that adapt to the way people live and work today. Looking ahead, I expect to see even more focus on wellness-centric design, with homes incorporating elements like meditation rooms, spa-inspired bathrooms, and outdoor spaces designed for relaxation. Luxury will continue to evolve as a reflection of personal well-being and environmental consciousness.”
Personalisation
For luxury travellers, the difference between a good holiday and a great holiday can often just be preference. Needless to say, personalisation has become the new standard, as guests look to build unique, one-of-a-kind experiences. Even Airbnb has got in on the action, recently unveiling the next iteration of its ‘Experiences’ feature, rolled out in conjunction with a new ‘Services’ tab. As Ormerod explains, personalisation options give guests the opportunity to build lasting memories and receive rewards for their patronage.
“Clients are now asking for experiences that go beyond the ordinary – things like private chef dinners in remote locations, exclusive access to sold-out events, or even custom itineraries that include private yacht charters and helicopter transfers,” she says.
Tackling the trend head-on, Luxico has introduced two new members-only tiers, which enable travellers to build their dream escape by hand. The Stay Beautiful Membership offers members priority booking access, complimentary upgrades, and personalised concierge support – all tailored to ensure every detail is considered before arrival.
On the other end of the spectrum, the Stay Exclusive Membership delivers a fully tailored experience. Members are granted access to exclusive villas, in-home staffing, food and beverage provisioning and bespoke experience curation. It’s all part of a wider play to capitalise on the market, and it could well be a billion-dollar idea.
With the luxury travel industry undergoing a seismic transformation, exclusivity and personalisation are becoming all the more important. Travellers are seeking out richer connections with place, people, and culture. It’s an evolution that reflects not just changes in consumer behaviour, but a broader cultural reimagining of what it means to live, and travel, well.
“As pioneers in the luxury villa rental space, we’ve helped shape what modern luxury travel looks like in Australia,” Alexandra says. “We’re not just responding to trends; we’re creating them, redefining luxury as something deeply personal, intentional, and transformative.”
