Virtuoso advisors report strong growth despite ‘cautious’ clients

A panel of Virtuoso advisors has reported “very strong” growth for 2026, despite clients being “more cautious”.

Speaking at the luxury agency network’s 38th annual Virtuoso Travel Week conference in Las Vegas last week, agents from the UK, US, Canada and Taiwan agreed that travel isn’t slowing down, with significant growth reported in the luxury cruise sector.

Founder of US agency Empress Travel Club Stephanie Malakie said: “Since we founded Empress [in 2020], every single year we’ve had a large increase in revenue, so we see a really strong market and that’s no exception for 2025 to 2026.”

Susan Lawson of Ontario-based Trevello Travel Group agreed, saying: “2026 is very strong for us. 2025 was an excellent year, and we’re still pacing ahead for 2026.

“Canadians are definitely interested in travelling, so it hasn’t slowed down.”

Josie Turner of UK agency 360 Private Travel agreed with the positive sentiment shared, but noted that clients are taking “a little longer” to book.

She said: “People are a bit more cautious, but at the end of the day, they’re still booking. It just might take them a little bit longer to convert that booking. But bookings are up and the value of each booking is up.

“Maybe value is slightly outpacing the number of bookings for this year, but still we’re seeing really strong growth.”

Nicole Li of Alma Burton Luxury Travel in Taiwan reported “20%-30%” growth so far in 2026, noting a particular increase in last-minute bookings.

Another trend recognised across the panel was the growing popularity of luxury cruising, particularly smaller, yacht-style sailings.

Malakie said her clients are “really excited” about this market, naming The Ritz-Carlton Yacht Collection and Explora Journeys as “pioneers” in the space. She said brands such as these are offering alternatives for ultra-high-net-worth clients who “regularly charter million-dollar yachts”.

Li agreed, sharing that this growing market is appealing to some of her clients who have never cruised before, while also generating interest in the “traditional luxury cruise” sector.

Turner hailed the convenience of luxury cruising, explaining that clients see “a floating hotel” as “the most convenient way to see a lot of cities in one trip”.

She also noted that, while more and more luxury names are entering the cruising space, clients ultimately value the itinerary over the brand.

“I do think that the itinerary is more important than the brand of ship,” she said. “I see that people are less brand dependent and more focused on where they’re actually going to go and what they’re actually seeing.”

Pictured from left: Misty Belles, Virtuoso; Stephanie Malakie, Empress Travel Club; Josie Turner, 360 Private Travel; Susan Lawson, Trevello Travel Group; Nicole Li, Alma Burton Luxury Travel