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An Assessment of the Factors Influencing High-Net-Worth Individuals' Choice of Luxury Resorts in Kano State

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  • Table of Content: Available
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  • NGN 5000

Background of the Study

High-net-worth individuals (HNWIs) represent a lucrative segment in the tourism and hospitality industry. Their preferences often dictate trends in luxury hospitality, including the choice of resorts. Factors such as exclusivity, personalized services, privacy, and unique experiences play a significant role in shaping their decisions (Okeke et al., 2023). Understanding these preferences is crucial for attracting and retaining this elite clientele.

Kano State, a commercial hub in Nigeria, is emerging as a destination for luxury tourism. With its growing number of upscale resorts, the state offers potential for catering to HNWIs seeking premium experiences. However, competition among resorts necessitates a deep understanding of the factors influencing their choices to tailor services effectively.

While global studies emphasize the importance of exclusivity and personalized experiences, limited research has focused on the Nigerian context, particularly Kano State. Exploring these dynamics will provide insights into how resorts can position themselves to attract and satisfy this segment of the market (Ahmed et al., 2024).

Statement of the Problem

Despite the presence of luxury resorts in Kano State, many fail to attract HNWIs consistently due to inadequate alignment with their preferences. Issues such as lack of personalized services, insufficient privacy, and inadequate amenities have been highlighted as barriers to satisfaction (Ojo, 2024). As a result, resorts struggle to maintain their competitive edge and attract high-spending guests.

This study aims to identify the factors that influence HNWIs’ choice of luxury resorts in Kano State, providing actionable insights for improving services and marketing strategies.

Objectives of the Study

  1. To examine the key factors influencing HNWIs’ choice of luxury resorts in Kano State.

  2. To assess the importance of exclusivity, personalization, and privacy in shaping their preferences.

  3. To recommend strategies for enhancing the appeal of luxury resorts to HNWIs.

Research Questions

  1. What are the key factors influencing HNWIs’ choice of luxury resorts in Kano State?

  2. How do exclusivity, personalization, and privacy affect their preferences?

  3. What strategies can luxury resorts adopt to attract and retain HNWIs?

Research Hypotheses

  1. Key factors do not significantly influence HNWIs’ choice of luxury resorts in Kano State.

  2. Exclusivity, personalization, and privacy have no significant impact on their preferences.

  3. Strategies to enhance appeal do not significantly attract or retain HNWIs.

Scope and Limitations of the Study

The study focuses on luxury resorts in Kano State and the preferences of HNWIs. Limitations include difficulty in accessing HNWIs for interviews and variability in resort service offerings.

Definitions of Terms

High-Net-Worth Individuals (HNWIs): Individuals with significant financial assets, typically exceeding $1 million.
Luxury Resorts: High-end hospitality establishments offering premium services and amenities.
Exclusivity: Unique offerings that cater to a select group of individuals.





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