They may have a hefty bank balance, but that doesn’t mean today’s luxury travellers are frivolous with their funds.

High-net-worth individuals (people whose assets exceed £1 million) are becoming more cautious about spending on luxury travel, the cost of which has soared in recent years due to inflation and increased demand. 

Rates for five-star hotels reached “peak levels” in 2024, and while some industry experts have warned of a possible downturn, there’s no sign that these astronomical prices will drop any time soon. 

Rather than quit travelling, however, high-net-worth individuals are simply getting savvier on how to cut costs on their luxury trips. 

A 2025 report by Preferred Hotels and Resorts even found that 85% of its 503 surveyed affluent clients use hacks when travelling, ensuring they can maintain their high standards without overspending. 

Loyalty programmes 

It’s no secret that luxury travellers value loyalty programmes, with research showing that 91% of high-net-worth individuals belong to an exclusive travel membership club. 

Preferred Hotels & Resorts found that 32% of these affluent travellers use loyalty programmes to snap up last-minute deals, while a hefty 50% said that complimentary room upgrades were a “very important” perk. 

Travel Advisors 

When using a travel advisor, high-net-worth individuals don’t just want planning and expertise – they want exclusive rates. 

The report found that 26% of respondents saved money on trips by using an agent, many of whom offer their clients privileges that cannot be purchased directly.  

“Luxury travellers are still willing to spend – but they’re asking more of their advisors,” said Peter Bates, president of US luxury marketing consultancy firm Strategic Vision. 

Upgrading with points 

Everybody likes to receive nice things for free – even high-net-worth individuals. The report highlighted the popularity of rewards schemes as a means of payment, with 46% of respondents upgrading with points to avoid splashing on premium cash rates. 

Travelling closer to home

It may seem like a no-brainer, but remaining in the UK or Europe is another way of softening the cost of luxury travel. Nearly one in five high-net-worth clients said that by staying closer to home, which typically means lower air travel fares (or none at all), they have more flexibility to splurge on premium services instead. 

Referral networks 

With private rental properties becoming a popular alternative to hotels with luxury travellers, it’s hardly surprising that 17% have taken to referral networks to access these exclusive accommodations. 

Lesser-known hotels 

For some high-net-worth individuals, the brand recognition of a luxury hotel isn’t enough to justify the astronomical room rates. The report revealed that 29% are saving money by finding smaller, independent properties that aren’t listed on major booking platforms but still offer a five-star experience.  

Ditching ‘non-essentials’ 

Not all luxury travellers want, or need, to splurge on every aspect of their holiday. The report found that 19% have reduced spending on “non-essentials” like tours and excursions, which can drastically increase the overall cost of the trip.