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Luxury Bull Market

The wall of worry continues to propel stocks higher as this long plodding economic expansion is assumed to be in the later innings. With low interest rates and slow growth, many are still waiting for the the full throated recovery to manifest. However, for the luxury and leisure world the good times just keep rolling. Cruise ships, air travel, luxury car sales, hotels …you name it and it's delivering consistent sales expansion over the past 6 years. With aging boomers and an economic cycle with room to run there could be more to come from the big spenders and silver haired crowd. The global baby boom is transforming into the senior surge who seek more frequent and experiential vacations. As strong as the benchmark S&P 500 Index has been, the luxury sector has outperformed most stocks.

Travel isn’t just for the senior circuit. In a study looking at the priorities of Millennials, travel came out as a higher priority than buying a home or car, or even paying off debt. In China, travel was the highest priority by a wide margin. Floating hotels...


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