New Delhi, October 13, 2016: InterContinental® Hotels & Resorts and Mastercard have formed a partnership that seeks to cater to the needs of affluent cardholders in Asia Pacific by encouraging them to re-connect with their family.
As part of the Kids Dining Perks promotion, every child below the age of 12 can now enjoy complimentary dining with every paying adult when paying with a Platinum, World and World Elite Mastercard at 25 participating InterContinental Hotels & Resorts across Asia Pacific.
The new offer is part of Mastercard’s wider suite of exclusive premium products and services aimed at delivering superior value to cardholders, building on research that shows affluent consumers across Asia Pacific are not only increasing in numbers, but are also traveling more.
The region is home to the largest population of high-net-worth individuals (HNWI) at an estimated 5.1 million. At a market level, Japan has the second largest population of HNWI globally, while Singapore has the highest proportion of millionaires anywhere in the world, and China’s HNWI growth expected to reach 16 percent. India has the fifth largest population of HNWI in Asia Pacific, which is estimated to grow by 135 percent by 2025, according to the India 2016 Wealth Report.
Furthermore, China’s luxury travel market is on track to experience double-digit grow at 12.2 percent, with the global luxury hotels market continuing to expand at a compound annual growth rate of 4 percent from 2015 to 2021. India’s luxury travel market is estimated to grow 12.8 percent over the coming decade and will be driven by outbound trips, according to Amadeus.
As a result, the definition of luxury travel has evolved from materialism to experiential. According to industry research, 76 percent of respondents in Asia Pacific are interested in exploring new destinations and activities, of which experiencing local food and cuisine (77 percent) tops the list of activities.
Bruce Ryde, Head of Luxury & Lifestyle Brand Marketing, InterContinental Hotels Group, Asia Pacific, Middle East and Africa, said: “This partnership with Mastercard is a great opportunity for InterContinental hotels and resorts to bring the art of fine dining as well as bespoke experiences for the affluent travelers and their young ones. We know that for our guests, luxury is a mindset and a way of experiencing life and we are glad guests will enjoy exclusive privileges and bespoke experiences.”
According to Julienne Loh, Executive Vice President, Global Products and Marketing, Asia Pacific, Mastercard, today’s landscape is seeing a shift in attitudes among affluent consumers who increasingly desire to spend more time with their loved ones.
“Growing time pressures are heightening affluent travelers’ desire for authentic and connected experiences. As a result, the definition of luxury has evolved; luxury now means spending meaningful time with their friends and families, building memories and experiences together. The partnership with InterContinental Hotels & Resorts is a first that we are looking to roll out as part of an overall refresh of the Mastercard affluent value proposition, which is focused on appealing to their desires through exclusive privileges that are designed to cater to three passion pillars: travel, rewards and experiences, and peace of mind.”
“Mastercard is tapping into these unique insights by building a compelling offer for cardholders that provides premium travel services, rewards and experiences to our cardholders. In essence, it enables sophisticated travel, made simple and stylish, allowing them to travel more and travel well,” Loh said.
InterContinental Hotels & Resorts is the largest luxury hotel brand globally. In India, the InterContinental properties open are InterContinental Chennai Mahabalipuram Resort and InterContinental Marine Drive-Mumbai*.
*Figures as at 30th June 2016
Corporate Comm India(CCI Newswire)
