Money is not a concern for Jaclyn Sienna India’s clients.
She is the founder of a Sienna Charlesa members-only travel company that caters to wealthy clients million dollar trip worldwide
But even with endless resources, India says she often advises her clients that not all splurges are actually productive.
If you’ve been saving up for a luxury trip or are thinking about splurging on a few luxuries on your next vacation, here are two expenses India says aren’t worth the money — and one that is.
Not worth the splurge: The most expensive suite at the hotel
If you’re looking to spend a lot of money on accommodation, paying a higher price for a private penthouse may not get you a better stay.
Think of it this way, India tells CNBC Make It: The vast majority of hotels have standard rooms, while a very small percentage are considered “luxury rooms,” which are more expensive and therefore less likely to be booked.
Hotel staff may not be familiar with maintaining these suites since they do not clean them regularly.
“Maybe they forget to service, or maybe they don’t have the right staff to deliver the service,” India says. “So we don’t recommend always booking the top suite, just because you feel like it might be the most luxurious, because they may not have the full-time staff to give the suite that special attention.”
If you still want a good hotel experience, consider booking a suite that matches your desired amenities, not just the most expensive room, India says. In general, when it comes to spending, she adds, “premium rooms aren’t always better unless you understand what they offer and how they fit into what you’re asking for.”
Not worth the splurge: Established Hotel
To get the most value, consider “trying new hotels in the neighborhood,” says India.
In the big cities that India helps her clients travel to — Paris, New York, London — “I’m always in favor of trying a new hotel, because a new hotel is where someone has to prove themselves and wants to win your business.”
Think: attentive service, extra perks and maybe a discount package here or there.
By contrast, established and reputable hotels “already have a clientele,” India said, “and they already know their place in the market, so they may not need to try to win customers.”
Worth the Splurge: Concert and Event Hospitality Packages
Americans are willing to pay for the concertevents and other shows: Consumers face a Concert ticket resale prices up 95% in 2023 from 2019.
While the tickets are quite expensive, India says you can upgrade to VIP and other all-inclusive packages for the best experience.
“I always advise that [people] Choose hospitality packages that include some type of food and beverage, some type of private entrance and some type of parking,” she says.
This makes the biggest difference for concerts and one-off events (rather than, say, an artist’s annual Vegas residency) because “these events are happening…for the first time,” India says. Each event can be set up differently in terms of entrances, exits, seating arrangements, and seating areas. “So they’re building these venues one time, and no one can tell you where the entrance is or where the car service will take you.”
She recalls instances where clients spent thousands of dollars but were unable to get into the venue without waiting in line for hours.
“Nobody wants to spend $10,000 on a Taylor Swift ticket and then have to wait in line for two hours like everyone else,” she said.
This extravagance is intended to save time: “If you have to spend a little extra to get confirmation [access]I think that’s really important.”
Want to stop worrying about money? Sign up for CNBC’s new online course Achieving Financial Wellness: Being Happier, Wealthier, and More Financially Secure. We’ll teach you about the psychology of money, how to manage stress and create healthy habits, and simple ways to increase your savings, get out of debt, and invest for your future.
Plus, sign up CNBC Make It News Get tips and tricks for success in work, money and life.
