How long would an average family have to save to afford to stay at such luxury hotels? Interested in finding out, money.co.uk sourced prices for a three-night stay in each hotel and compared them to the average household salary and saving rate of the average British family (two adults and two children).
|Brits need to save this long to stay at these luxury hotels|
|Rank||Luxury hotel||Location||Time taken to save|
|1.||Titanic Mardan Palace||Kundu Mah (Turkey)||3 mths, 3 wks, and 16 hrs|
|2.||Rancho Valencia Resort & Spa||California (the United States)||10 mths|
|3.||The Ritz-Carlton||Wolfsburg (Germany)||1 yr, 3 dys and 2 hrs|
|4.||Kamalaya||Surat Thani (Thailand)||1 yr, 2 mths, 2 wks, 1 dy and 12 hrs|
|5.||The Plaza||New York (the United States)||1 yr, 6 mths, 3 dys, and 2 hrs|
|6.||Palms Casino Resort||Las Vegas (the United States)||1 yr, 6 mths, 2 wks, 1 dy and 12 hrs|
|7.||Mandarin Oriental||Central Hong Kong (Hong Kong)||2 yrs, 3 mths, 3 wks, and 16 hrs|
|8.||Burj Al Arab||Jumeirah (Dubai)||2 yrs, 4 mths, 1 wk, 2 dys and 6 hrs|
|9.||Acqualina Resort||Miami (the United States)||2 yrs, 6 mths, 3 wks, and 16 hrs|
|10.||The Inn at Little Washington||Washington (the United States)||2 yrs, 9 mths, 2 wks, 1 dy and 12 hrs|
|11.||Four Seasons Private Island||Kudarikilu (Maldives)||4 yrs, 7 mths, 1 wk, 5 dys and 9 hrs|
|12.||La Réserve||Paris (France)||4 yrs, 8 mths, 3 dys, and 2 hrs|
|Source: money.co.uk – based on a three-night stay in a family room|
Money.co.uk found that the average British family would need to save for just three months, three weeks and 16 hours to afford three nights at the Titanic Mardan Palace in Turkey – the quickest saving times for all hotels considered.
In second position is the Rancho Valencia Resort and Spa. To stay at the resort and spa in California (United States), a British family would have to save for ten months.
The Ritz-Carlton in Wolfsburg (Germany) would require a British family to save for one year, three days and two hours to experience a stay at the luxury hotel – placing it in third.
At the other end in the 12th spot is the La Reserve. A British family would need to spend the most time-saving at four years, eight months, three days, and two hours to embark on a lavish stay at a luxury hotel in Paris (France).
Salman Haqqi, personal finance expert at money.co.uk, commented on the research:
“Luxury hotels are an essential aspect of the travel and tourism industry. They provide guests with an exceptional environment to unwind and escape the stresses of everyday life, but this level of care doesn’t come cheap. Despite this, there are some effective tips to help shorten the time needed to save:
- Stay connected to hotels you wish to visit– Sign up to the email list and newsletters of the luxury hotels you are interested in. In doing so, you can stay in the loop of any existing or upcoming discounts and packages they may be offering
- Phone up– Directly call the luxury hotel you desire and if you want to book during the off-season, ask if they can offer any flexibility on price. If booking during peak season, then it is worth asking if they can add one or more ‘freebies’ such as 24-hours Wi-Fi, breakfast, gym access and/or a few massage sessions
- Opt for a cancellation policy– A free cancellation policy could make your initial booking more expensive, but if you check back another time and find the price has dropped for your selected dates and room type then you will be able to cancel the original booking without incurring any charges and rebook. In doing so, the potential saving is hopefully significantly more than the charge paid for opting in for the cancellation policy.”