A growing desire for meaning over materialism is transforming how travelers choose to spend their money, which is good news for hospitality professionals.
In her recent “State of the Industry” presentation, Wan Yang, James A. Collins Distinguished Professor at the Collins College of Hospitality Management, outlined how changing mindsets are shaping the future of travel and well-being.
The presentation explored the growing disconnect between luxury goods and personal happiness. Yang highlighted that while global luxury retail saw a decline in 2024, demand for wellness-focused travel and immersive experiences continues to rise even in an economic downturn.
“You will never be able to find a used experience to buy it,” Yang said. “Every experience you purchase is unique to you. That’s actually really good news for us.”
Through examples ranging from immersive dining at Tiffany’s Blue Box Café to the creative hospitality strategies in Japan, Yang emphasized how the industry can design transformative moments that shape customer identity and long-term satisfaction.
Her research connects psychological theory with industry trends. She offered practical ways hospitality professionals can prime guests for growth, meaning and connection during their stay.
Yang is a CPP Expert on consumer behavior, luxury marketing and travel happiness. Her full presentation is below. Yang will also be hosting a webinar on August 12, called "Rethinking What Makes Us Happy: The Hidden Power of Experience, Meaning, and Mindset", for the Council on Hotel, Restaurant, and Institutional Education.
