8 Ways Rich Couples Save Money on Holiday Travel
Travel during the holiday season is notoriously expensive and inaccessible to most people. And yet, rich couples seem to find a way around sky-high prices.
What’s their trick? According to experts, it all comes down to being savvy.
Below are some of the strategies they use to save on holiday travel.
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Leveraging Loyalty Programs and Credit Card Rewards
According to Dennis Shirshikov, head of growth at GoSummer and professor of finance at City University of New York, affluent couples often maximize their travel rewards by strategically using credit cards that offer substantial points or miles.
“They accumulate these throughout the year and redeem them during the holidays for flights and hotel stays.”
Christian Petzold, travel and tourism expert and marketing director at BCN Travel, equally noted that often, a high-net-worth person has a solid set of frequent flyer miles, hotel points and rewards due to premium credit cards.
“This class of people usually optimizes their programs by consolidating all their spending into a few accounts in order to gain many points in the shortest period possible.”
He explained they also make use of status-matching programs, whereby the benefits they have with one airline or hotel chain can be leveraged to match a similar status with another, thus providing them with upgrades, priority boarding or access to lounges.
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Booking Private Accommodations Through Exclusive Networks
Instead of opting for high-end hotels, Shirshikov noted that many wealthy travelers use exclusive home-sharing platforms or luxury villa rentals.
“These options often provide more space and privacy at a lower cost than comparable hotel suites.”
Traveling During Off-Peak Times
“Rich couples understand that shifting their travel dates slightly can lead to substantial savings,” said Shirshikov.
By flying on less popular days like Tuesdays or Wednesdays, they avoid peak pricing and crowded airports. This flexibility, Shirshikov explained, not only reduces costs but also enhances the overall travel experience.
Petzold agreed that timing is the next key to savings. “While holidays are usually the peak travel time, rich couples can afford to change their schedules,” he said.
They can travel in shoulder seasons, which is right before or after the peak of the season, and still catch some holiday vibes without all the holiday hustle and bustle. Moreover, he noted that they may book their travel well in advance, especially for high-demand destinations, to lock in better rates and ensure availability.
Utilizing Elite Status Benefits
Years of frequent travel often grant affluent individuals elite status with airlines and hotels.
“These statuses come with perks like free upgrades, lounge access and late check-outs — all of which add value without extra expense,” said Shirshikov.
Negotiating Directly With Providers
“Wealthy travelers aren’t afraid to negotiate rates directly with hotels or travel agents, especially for extended stays or large bookings,” Shirshikov explained.
They might secure unpublished discounts or added amenities.
Combining Business and Leisure Travel
Many affluent couples blend business trips with holiday vacations, a practice known as “bleisure” travel.
“By aligning their schedules, they can offset some travel expenses through business deductions or employer reimbursements, effectively reducing the cost of their personal travel,” said Shirshikov.
Investing In Travel Memberships and Passes
According to Shirshikov, memberships to exclusive travel clubs or investing in annual passes (like global airline lounge access) can provide long-term savings.
“While there’s an upfront cost, the benefits over multiple trips — such as discounted fares and amenities — often outweigh the initial investment.”
Choosing Emerging Destinations
Instead of heading to traditional holiday hotspots where prices soar during peak season, Shirshikov noted that wealthy couples explore emerging destinations.
“These locales offer unique experiences without the inflated costs.”
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This article originally appeared on GOBankingRates.com: 8 Ways Rich Couples Save Money on Holiday Travel
