How the travel habits of millennials shape modern philanthropy.

The Economy of Goodwill

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August 8th, 2018

Early bird pricing is now available for Stay Boutique Live! We've streamlined the registration process with two clear categories for members and non-members. Come to one event or all three! The more you register for the more you save. Click here to learn more about the reimagining of BLLA's Leadership Conference, Women's Conference and the renowned Stay Boutique Awards.

This Week's BLLA Commentary

The Economy of Goodwill: How Values Can Impact Business Across The Globe

The term "citizen of the world" has never been more prevalent than it is today. Be it due to a renewed sense of worldliness as a side effect of technological developments or a restructuring of the American Dream, today’s definition of luxury has evolved, and the culture shift in the world of modern travel has been a swift one.

Now, the very nature of travel is to expose people to not only new places but to thoughts, ideas and cultures. The rise in voluntourism, sustainable tourism and ecotourism initiatives all point to a common value that people share by perusing their wanderlust: do good wherever you go. The concept of adhering to values and doing good has now evolved to appeal to all businesses. Imagine the impact your company could make in the world, one good deed at a time. There is power in numbers no matter how you slice it. When my team spoke to the attendees of our conference, we explained that we wanted them to find the inspiration and motivation to grow their brands but with the goal of affecting positive change in the world.

Millennials have arrived as the most influential generation in global economics. Many millennials' informed moral stances and equalitarianism attitudes have turned them away from the archetypical "luxury" consumables that previous generations have long regarded as indicators of wealth. Gold-plated toilet seats? Rolls Royce and caviar? Hard pass. Millennials are engaging in travel experiences that create conscious, global citizens. However, high-end goods and services aren’t going anywhere, they’re just being reclassified. In fact, after conducting a survey, we found the perfect essence of today’s interpretation: It is luxury if it exceeds your expectations. This applies to the broader spectrum of everywhere that luxury appears.

Frances Kiradjian

Founder & Chair, BLLA

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What's Developing

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This Week's Resources

	iVvy Inc.
	iVvy offers meeting planners the ability to search, compare and book function space, catering and group accommodations online 24/7 by reviewing real-time availability, rates and inventory posted by venue operators, then manage events using an easy-to use, cloud-based platform and custom websites to attract and register attendees and manage their experience. IVvy serves over 12,000 users in 13 countries including Hyatt, Wyndham Hotel Group, Accor, Choice, Best Western and other leading hospitality groups; Air New Zealand, Voyager, Flight Center and other travel companies; BMW, KFC, Siemens, Rio Tinto, and other major corporations; government offices; associations; universities; and nonprofits.

	California Hotels - Recycle your old mercury thermostats or you could be fined up to $70,000!
	According to California law, it’s illegal to dispose of mercury thermostats in the trash. HVAC contractors, lodging managers, and owners are responsible for recycling all mercury thermostats they remove from service. Staying compliant with the law is a good thing, but what’s even better is that all participants of the program get a $5 rebate for every recycled mercury thermostat. Just follow these three easy steps.

	Independent Operators Discuss Must-Have Functionality for Multi-Property Operations
	Maestro Multi-Property Management does a great job of connecting the different pieces of our business, the Spa, front desk, and food and beverage outlets. It all comes together on one system to support personalized experience that is essential for our Forbes rating,” says Mary Arcuri, Group Director of Reservations and Revenue for Ocean House Management.