A new study from Fairmont Hotels & Resorts explores the latest in luxury travel trends. The report points to three key elements influencing successful luxury hotels to discover why affluent travelers are drawn to one property over another. Not surprisingly, travelers are looking for more than just good service and a top-notch guestroom.

The study states luxury travelers are becoming more highly influenced by a property’s place identity, cultural immersion and emotional fulfillment. History, preservation and architecture all play large roles within each of these aspects. The report defines place identity as the psychological connection a property has with its history; in other words, a property must make guests feel they are participating in something bigger and more meaningful than just another vacation. The emotional fulfillment aspect and cultural immersion of a property both link to what the report says is a need for luxury travelers to be offered exclusive experiences over amenities. While opulent guestrooms are desired, they mean little if there’s nothing for guests to do and experience during their stay.

“Our Luxury Insights Report reveals a decisive link between travelers and their emotional connection to historic and iconic hotels and the destinations in which they reside,” said Jane Mackie, vice president, Fairmont Brand. “As a globally recognized leader in the stewardship of these landmarks, as well as the luxury operator of many new hotels that have already established themselves as the icons of tomorrow, it is our mandate to not only understand the experiences our guests desire, but to preserve and develop the properties that act as a catalyst for so many unforgettable moments.”

Fairmont currently has more than 40 property developments in its pipeline in China, the Middle East, Europe and North America. The brand’s luxury travel study was conducted using responses from more than 19,000 guests during a two-year period.