Globalized world is changing definition of luxury, says Starwood CEO

04/25/2013 | Luxury Daily

Global connectivity and a trend toward personalized service are altering the way people perceive luxury, said Starwood Hotels and Resorts CEO Frits van Paasschen. The world's wealthy are more diverse and more connected to the rest of the globe than ever before, he says, and they are not only growing demand for luxury hotels but also changing what is expected of them. Retailers such as Apple and Amazon have trained customers to expect personalized experiences that cater to their particular tastes, and scarcity is no longer the sole determinant of what makes luxury.

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