Yoshiu Hoon
It must have been a daunting task for Benoit Racquel and Jean-Yves Minet to meet and get to know the 21 brands that make up 90% of Accor’s portfolio of hotels, but the two global brand presidents were vibrant and radiant even when they attended an early-morning meeting in the riverside café of the Movenpick BDMS Wellness Resort Bangkok.
There was good reason for that.
“Decafé, please,” said Rakul. “Sparkling water, please,” added Minette.
Both fit the profile of a healthy-living traveler. A hospitality veteran who has served as vice president of global brand management for W Hotels for the past eight years, Rakl has ditched caffeinated coffee and has been sober for nearly a decade. “We all travel a lot,” he says. “I want to feel as good as I can. And that’s a trend for all travelers, which is that wellness shouldn’t come at the expense of travel.”
Minette, whose skin is glowing and healthy, said it might not come as a surprise, given that she has worked at Estée Lauder for more than a decade. “Statistics show that we are going to live longer, and it’s not about adding years to your life, it’s about adding years to your life. People of all ages, including Gen Z, are really thinking about how they sleep and exercise.”
“There are statistics that say only 11 percent of teenagers in the United States smoke,” Rakley added. “They’re drinking less, and there are non-alcoholic bars in New York. So we have to rebuild the atmosphere and the vibe for people who don’t drink. We have to reinvent ourselves because our guests are demanding it.”
Consulting firm McKinsey & Company estimates the global consumer wellness market at $1.8 trillion. The latest Future Wellness study estimates the U.S. wellness market is worth $480 billion and growing at 5-10% annually.
The report found that “82% of US consumers now consider wellness to be a top or important priority in their daily lives, a figure similar to that of UK and Chinese consumers (73% and 87%, respectively).”
sense of place
Another big trend both executives mentioned is environmental awareness, but it’s not just a trend in developed countries, said Minnett, who was in charge of emerging markets at Estée Lauder.
“I’ve had the opportunity to work in emerging markets in Asia and Africa, and I’ve been really struck by how much the emerging middle class has become more aware of sustainability and environmental protection. Take India, for example,” he said.
“Consumers are choosing the right brands for their wallets,” Racle added. “They have more influence now and they know what they want to do.”
So while brands strive to build a global presence, they also need to understand the nuances of different local markets, especially those that are growing and influential.
“In the next five to 10 years, outbound tourism from India will be larger than ever before,” said Rakul.
