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Upscale Travel Trends Defy Economic Headwinds

Luxury travel is projected to grow at a CAGR of 7.4% from 2024 to 2035.

By Erik Sherman | March 24, 2025 at 05:00 AM

If you were going to invest in hospitality CRE, you might want to head to upscale. Although there have been some negative signs in typical bellwethers of the travel industry, other indicators suggest that those who can afford the best expect to keep enjoying themselves.

Recent airline earnings projections seemed to be the logical warning because of Delta’s updated March Q1 2025 outlook. The initial guidance from called for year-over-year revenue of between 7% and 9%; operating margin was supposed to range 6% to 8%; with earnings per share sitting between $0.70 to $1.00.

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