Airbnb has become the go-to service for travellers looking to rent a room on the cheap. And now, with the relaunch of its app, it's looking to expand its offering beyond accommodation to provide a range of travel services, putting personalisation at the heart of its product.

With private lounges, liberal legroom and five-star service all accessible realities, the top 1% of earners in the US can travel in style. And according to a recent report from Resonance Consultancy, these elite travellers are looking to be wowed once they arrive at their destination.

With Far-Eastern tourists becoming more extravagant, and Western visitors searching for authenticity, luxury hospitality is undergoing a difficult transformation. The solution, for the Waldorf Astoria Group, is to offer a new gastronomic experience that celebrates the brand’s heritage yet offers a series of new iconic dishes to attract fine-dining travellers.

While luxury brands move away from the ‘stuffy’ traditions, a new breed of hotels that spans the entire price spectrum is competing to meet the needs of the digitally dependent Millennials. But how is such a long-standing industry redefining itself to meet the needs of Gen Y?