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Fall is the new peak season for luxury travel, as the wealthy continue to shift their holidays to September and October to avoid the summer crowds, according to a new study. Fall bookings for luxury travel and experiences are up 59% compared with last year, while sales surged 69%, according to Virtuoso, the global luxury travel network. September is now a peak month, with sales up 77%. October and November sales are up 54% and 71%, respectively. Virtuoso calls it the "fallcation," with the wealthy moving their typical summer getaways to autumn. "Especially for the high-net-worth and ultra-high-net-worth group, we're seeing huge gains for fall this year," said Misty Belles, vice president at Virtuoso. "September is really eclipsing August. That shoulder season is no longer really a shoulder season. It's becoming a peak season unto itself." While the shift to fall has been happening for years, it accelerated in 2025 and 2026, travel experts said. Summer heat waves in Europe have made travel in July or August increasingly unpleasant. Growing wealth and the shift in spending from goods to experiences have fueled more luxury travel and ever-growing crowds in popular destinations like southern Italy and France. Top hotels and restaurants are often fully booked and charging ever-higher prices, making a summer trip to Europe often an exercise in disappointment. Demographics also play a role. Most wealth is now held by baby boomers, who are often retired and enjoying global travel. Gen Xers are joining them, since their kids are often grown and are no longer tied to the school calendar. Add in the millennial and Gen Z digital nomads, who aren't tied to the office, and the population of wealthy travelers who can ditch the traditional summer months in favor of fall is growing. "Wealthy travelers have more experience. They have experienced destinations in the summer," Belles said. "They know it's hot. They know it's crowded. They know it's not often the best time to see a destination, so they're shifting over to fall because the lines are going to be shorter, less crowded and the temperatures are more moderate." The most popular destinations for wealthy Americans this fall are largely in Europe, according to Virtuoso. Paris is the top destination, followed by the Amalfi Coast, the French Riviera, Tuscany in Italy and then New York. London, Lake Como, Italy, Maui, Hawaii, and Rome are also popular. There are signs, however, that the fallcation is recreating some of same problems travelers are trying to avoid in the summer. Hotel rates in Europe for September are now close to summer rates, with some charging even more, travel experts said. Average daily hotel rates are up 131% in the Greek Isles, 78% in Puglia in Italy and 179% on the French Riviera, according to Virtuoso. Crowds in Southern Europe could start to rival July and August, especially in wealthier resorts. "I don't think they're expecting no crowds," Belles said. "But they are expecting a better experience than they would see in the summer and I think that's going to continue for a while." Belles recommended traveling in November to avoid the September and October crowds, although November bookings are also up 70%. More broadly, demand for luxury travel is pushing up high-end hotel rates around the world. Bookings at hotels charging $1,500 or more per night are up 37% compared with last year. Luxury international hotels now average $1,653 a night, up from $985 in 2019, according to Virtuoso. "Rates are growing at a faster clip [for luxury] than the lower-rate hotels, so that tells us there is a premium placed on the experience," Belles said. "The demand is certainly strong."
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