Across the top 1%, 37% are willing to spend more money on luxury goods and services this year than last year, according to a recent study by American Express. That's good news for those catering to the fickle tastes of high end consumers, like leisure company Orient Express (OEH).
In the middle of last decade, spending by wealthy travelers propelled luxury hoteliers to new highs, prompting a wave of spending on new resorts. A glut of capacity and recessionary spending cuts curbed luxury travel for all but the wealthiest, knocking Orient shares down some 80% from their peak.
But, with spending growing again and Orient's score moving up in the system used by my firm E.B. Capital Markets,...
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