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ET Insider – March 28, 2013

 

More than ever private jet travelers, or elite travelers as we like to call them, are the most lucrative market for luxury brands and service providers.  With readers spending $10,000 per hour to fly privately, the over 600,000 readers Elite Traveler reaches each issue provide you a great way to make sure your message is in front of consumers who have the money to be good customers.  With our Asia Edition, Elite Traveler Superyachts, our over 60 Elite Traveler Destination Guides at Elitetraveler.com, our global database of private jet owners and our award-winning custom marketing team, we would welcome the opportunity to be of help to you in making sure you get a bigger share of our reader spending.

With a Net Worth of more than $25 trillion, I hope you will agree elite travelers should be a key target for your marketing!

 

Follow Doug Gollan on Twitter:

https://twitter.com/EliteTravelerDG

In this edition:

1. The Russians Are Coming – to New York, Miami, etc.

2. China Boosts Korean Air Private Jet Business

3. Private Jets Boom in Scotland

4. Private Jet Pets Surge 40 Percent

5. Elite Travelers Are Global Trotters

 

1. The Russians Are Coming – To New York, Miami, etc…

A recent article in The Guardian underscored if you are luxury marketer and you want to reach rich Russians, the best place is probably outside of Russia – as that is where the richest Russians increasingly spend most of their time

And for luxury brands, Russians traveling the world are certainly an attractive target:  ‘”They have boats, they have cars; you go buy a plane for $40m, it’s not a big deal any more,” said David Newman, a partner with Day Pitney. Dmitry Rybolovlev’s 2012 acquisition of an $88m Central Park apartment once owned by Citigroup chief Sandy Weill still stands as one of the biggest real estate deals in New York history, and a soaring example of Russian influence and ostentation in high-end New York real estate.’

Leaving Cyprus, Traveling the World:  ‘The wealthiest Russians knew months ago that the Cypriot economy was failing and hurried their money out into other investments,’ the Guardian piece continues. ‘The European crisis has forced more and more money out of the bank accounts of wealthy Russians in Cyprus and elsewhere and into the US. “This past year, we’ve been seeing a shift in investments in the United States as a result of the financial state of the European Union,” said Ed Mermelstein, a New York real estate lawyer who advises wealthy Russians.’

Buying and Building:  The Guardian notes, “Wealthy Russians haven’t just been buying apartments as individual investments; according to investment bankers, lawyers and wealth advisers, over the past six months to a year – as the eurozone crisis intensified with elections in Greece and Italy as well as the debacle in Cyprus – those Russians have been looking to build real estate. Lawyers and advisers have been making construction loans and sinking money into the concrete foundations of the big real estate developments in Manhattan as well as other centers of east coast glamour, including Miami.”

Hard to Track:  Which Russians are investing?  Perhaps a trip to Teterboro would provide clues as they come and go on their private jets.  The Guardian points out, “The estimates of the investments are always anecdotal. Russians, especially in real estate, tend to work through investment funds and private companies, creating a warren of paperwork and almost no access to their names on public documents.”

With deals that can range easily to $40 million and more what better way to celebrate with a new watch or some jewelry.  And Elite Traveler provides advertisers BPA audited distribution to this rich segment in private jets across the Motherland, as well as in the US and over 100 countries worldwide.

“Elite Traveler is a key media source for us with well over $200,000 in sales we can track directly back to our ads in your magazine over the past year.”  – Charles Krypell, Owner, Charles Krypell

 

2. China Boosts Korean Air Private Jet Business 

According to The South China Morning Post, “Korean Air hopes to persuade billionaires in southern China to charter its luxurious private jets…to capture a larger share of the growing private jet charter business in southern China by marketing its service more widely among the region’s growing number of super- wealthy businessmen.”

Some 40 per cent of the bookings on Korean Air’s BBJ (a long range 737 converted to a private jet in this case with four bedrooms) were made from Hong Kong, which serves as the regional headquarters of many international private jet brokers. However, few bookings are made by Hong Kong’s super-rich as most tycoons in the city have their own private jets.

Existing clients are mainly international entertainment stars who travel with a large entourage, K-pop stars, corporate executives from companies in the Asia-Pacific region, and political heavyweights, Chun said. Trips are made to Japan, Singapore, mainland China, Europe, and as far as to South America, according to the article.

Of course Elite Traveler’s Asia edition is there from Hong Kong to India to Japan, throughout China and to New Zealand and Australia, aboard private jets reaching the Super Rich.

“From the Summer Edition of Elite Traveler Superyachts, as well as the Asia Edition including the May/June issue we are happy to report sales ($437,000) of the timekeepers we advertised”  – Patrik Hoffmann, CEO Ulysse Nardin

 

3. Private Jets Boom in Scotland

Private jet travel to Inverness is growing fast enough to support a second FBO (private jet terminal), which has now opened. The Highland Jet Centre is open along with Signature Flight Support.

Private jet travel in Scotland is driven mainly by sports and high end tourism: “The business [aviation] side in the Highlands is buoyant,” said MacCullum. “I do not think it has really been affected because of the wealth that is already here and the type of clients that we attract.”

ONLY ELITE TRAVELER – Elite Traveler is the ONLY global publication targeting and reaching private jet travelers to have its circulation successfully audited

 

4.  Private Jet Pets Surge 40 Percent

It’s a dog’s life, or possibly, what am I doing wrong with my life?

Private Jet Central, a service catering to UHNWs who need their pets flown but are busy using their own private jets elsewhere, has seen a 40% increase in global pet travel this year alone.

According to a report, Private Jet Central handles logistics from liaison with an elite traveler’s vet and the national government department at the destination to ensuring the pet’s arrival is stress free and all the paperwork is correct. The company will even assist in finding a supplier of favored pet food at the destination.

“Again this year Elite Traveler continues to be our #1 source for reservations generating close to $1 million in bookings from your readership of private jet travelers”  – Sean Emmerton, Villas del Mar

 

5.  Elite Travelers Are Global Trotters

A look at UAE-based Royal Jet demonstrates why Elite Traveler’s global private jet circulation makes so much sense.  Last year the operator conducted 3,135 flights to 370 cities in 136 countries.  With UHNWs traveling the globe, a key media strategy is to reach them while they are relaxed with friends and family on their private jets.  The flight patterns of Royal Jet underscore that the next big customer on Madison Avenue could be leaving Muscat as we speak.  Elite Traveler is there, of course!

 

“Recently we had an American customer who walked in with a copy of Elite Traveler and booked two suites that been directly featured in the magazine.  The value of the booking was in the region of $200,000.”  – Tony Potter, Corinthia Hotels  

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