Luxury hotel rates reached "peak levels" this year, with average daily rates up 70% compared to 2019, according to the luxury travel company Virtuoso.
The price for luxury train travel is also soaring, with rates for Accor's yet-to-be-opened La Dolce Vita Orient-Express climbing 75% in 16 months.
When money is 'no object'As inflation and rising costs abate, luxury travel prices are holding firm.
Wealthy travelers also value new and different experiences, such as luxury train travel, he said.
Booking early can save money on airfares, but hotel pricing works differently, he said.
Persons:
aren't, Belmond, Accor, Henry Harteveldt, Harteveldt
Organizations:
CNBC Travel, Dolce Vita Orient, Orient, Express, Atmosphere Research Group
Locations:
Italy, Venice