London, February 9, 2021: Strategic industry partnerships – connecting companies from different segments of the luxury travel, hospitality and leisure industry – are widely seen as a key element in fostering recovery from the impact caused by the COVID-19 pandemic. A new study from VistaJet, the world’s first and only business aviation company, in association with Barton, the high net worth insight consultant, demonstrates the considerable value placed on partnerships by leading companies in the industry. While private aviation continued to see an influx of new customers, according to VistaJet’s report, The Future of Private Travel, the impact of the COVID-19 pandemic in 2020 has in general been severe for many international companies. of travel and luxury hotels, with more than three-quarters (77.8%) of companies having seen their turnover fall by at least 60% year-on-year and around 43% have saw a drop of over 90%. Despite a promising vaccination program, many companies are still reluctant to predict a rapid recovery in the coming months. However, 25.9% are optimistic and are starting to refocus their offering on a target HNW group, predicting a rapid recovery to pre-pandemic levels. VistaJet itself has seen a 29% increase in the number of new members joining in 2020, while its sister brand XO has seen its membership sales increase threefold. Many companies are already innovating to rethink their operational and business strategies – 94.4% have taken or are considering innovating their service and customer experience protocols, and 62.3% of companies have already introduced new offerings, products or services, with increased digital services and more concierge offerings personalized being particularly sought after. As businesses look to the future, it is clear that a majority of industry leaders are looking for collaborative partnerships outside of their core business, to help mitigate the negative impact of travel restrictions and ensure that their customers continue to benefit from unmatched end-to-end service throughout their journey. 86.5% of companies are taking steps to collaborate with other leading players in the industry, including hotels, travel designers, private aviation, yachts, drivers and concierge services. Additionally, 46.8% said partnerships are already helping generate additional revenue during the pandemic, which is notable given the limitations of global travel in 2020, while 70% are looking to establish new partnerships in the next 12 months. Partnerships can provide customers with integrated service every step of the way, with safer and more reliable experiences in the uncertain world of COVID-19. For example, VistaJet’s partner program, Private World, leverages its relationships to provide customers with a tailored travel experience, from pre-flight to flight and accommodation, with preferred services already lined up at destination. – from yachts to hotels, private islands and retreats. . This is just one solution among many in the industry. Ian Moore, Commercial Director of VistaJet, said: “While the impact of COVID-19 has been significant on a number of luxury travel, hospitality and leisure companies, it is clear that aviation business leads this whole sector with a V-shaped recovery. Therefore, we are increasing the number of partnerships to help accelerate the road to recovery of the sector as a whole. As consumers continue to be burdened with complex travel restrictions, they are looking for simple solutions that they know are safe and reliable. The collaboration between the best mobility and hospitality players in the field offers not only peace of mind, but also the high quality service and impeccable standards our customers have come to expect. I remain optimistic about the long-term growth and opportunities of the sector. Barton Founder Winston Chesterfield said: “While almost every industry has been affected by the pandemic, the global travel and hospitality industry has been hit the hardest. There is no alternative or flexible working format for most of these companies; legally binding closure is often fatal. And yet, as this report shows, there are still great hopes for a recovery. The eagerness of many high net worth clients to “ get back on track ” after initial fear of the virus has been a shot in the arm for the industry. It also forced these wealthy clients to place even greater trust in these organizations to make this happen. It is the realization of this confidence in the foreseeable future that will help revive this gigantic global ecosystem. For the full findings of The Future of Private Travel report, please visit vistajet.com/privatetravel. – End – Information Jennifer Farquhar | VistaJet | [email protected] Notes to Editors The Future of Private Travel Reporting Methodology The research invited over 650 luxury hospitality industry leaders to share their opinions and ideas. The people we heard from came from different types and sizes of organizations, from small luxury travel agencies to large multinational hotel groups. It was a global study, with about half of these organizations based in Europe, a fifth in Asia as well as North America, the Middle East, and South America. A more detailed breakdown of the data is available on request. About VistaJet VistaJet is the world’s first and only business aviation company. On its fleet of more than 70 silver and red business jets, VistaJet has flown businesses, governments and private customers to 187 countries, covering 96% of the world. Founded in 2004, the company pioneered an innovative business model where customers have access to an entire fleet while paying only for flight hours, without the responsibilities and risks of owning an aircraft. Membership in VistaJet’s Signature Program offers customers a bespoke flight hour subscription on its fleet of medium and long range jets, to fly them anytime, anywhere.VistaJet is part of Vista Global Holding – the world’s leading private aviation ecosystem, integrating a unique portfolio of companies offering asset-specific solutions to cover all key aspects of business aviation. More information and VistaJet news at vistajet.com About BartonBarton consults with companies in industries focused on targeting high net worth consumers, combining evidence and advice to help these organizations and brands grow and prosper. Whether it’s business strategy, brand assessment, communications, trend analysis or thought leadership, Barton knows that companies need to be confident in their decisions. Barton delivers cross-sector knowledge in a responsive and agile manner, combining creativity and pragmatism, providing the perspective needed to make informed choices. More information on barton-consulting.co.uk VistaJet Limited is a European air carrier which operates 9H registered airplanes under its Maltese Air Operator Certificate No MT-17 and is incorporated in Malta under company number C 55231. VistaJet and its subsidiaries are not. US direct carriers. VistaJet-owned and US registered aircraft are operated by duly licensed US air carriers, including XOJET Aviation LLC. VistaJet Global 7500 VistaJet Cabin Attendant.