Private jet companies say New York City, Aspen and Los Angeles are popular for Independence Day
Get set to jet.
Rich Americans spend more than $13,000 a year on vacations, according to data from BMO Private Bank, which polled people with more than $1 million in investible assets. And for the uber-wealthy among them, that number is often far more, as they shun crowded commercial planes for luxe private jets. The cost to rent one: $20,000 or more in many cases.
The July 4th weekend is one of the busiest holiday weekends for private jet companies, says Sergey Petrossov, the CEO of private jet sharing company JetSmarter. “Wealthy people tend to like to travel somewhere [for Independence Day weekend],” he says. “What you tend to see is that they like to go to the same places every year.”
So where exactly are they going? Moneyish asked private jet share company Flexjet to tell us the most popular places their clients are booking private jets to this holiday weekend. Here’s what we found.
New York City
This is the most popular destination for wealthy vacationers over the holiday weekend, according to Flexjet; and it’s the second most popular according to JetSmarter, which says that roughly ⅓ of its booking go to the Big Apple over the holiday weekend (Los Angeles is No. 1 for JetSmarter).
Some of the people flying to NYC, of course, may be stopping off for a few days in the city before taking a helicopter to the Hamptons. Cody Vichinsky, one of the co-founders of Bespoke Real Estate, an ultra-luxury brokerage with properties in the $10 million and up range, says that the 4th of July weekend is often the busiest in the Hamptons, but adds that most of the uber-rich keep to themselves rather than partaking in the Hamptons scene.
Dallas is home to one of the fastest growing millionaire populations in America, so we’re guessing there are plenty of rich people who live elsewhere coming to see their rich friends in Texas.
The charming, tiny island of Nantucket has long been a playground of the rich, particularly those coming from the nearby Boston area. The median home here will set you back more than $1.4 million.
The Telegraph notes that Vail may be “America’s most opulent ski resort” and the rich enjoy it as a summer playground as well.
San Francisco, California
The tech-rich Bay Area — home to everyone from Mark Zuckerberg to Sergey Brin — lands the No. 6 spot on FlexJet’s list.
Los Angeles, California
Fully 36% of the flights booked on JetSmarter were going to LA, though it only lands the No. 7 spot on FlexJet’s list. Petrossov says that it’s popular at this time thanks to good weather. It’s proximity to celeb-laden Malibu probably doesn’t hurt either.
Sun Valley, Idaho
This low-key vacation spot has been visited by some of our nation’s most brilliant minds and most bold-faced names including Bill Gates, Michael Eisner, Steve Case and Bruce Willis.
This historic capital city lands the No. 9 spot on this list. Some members of the jet set may be hitting the city for a few days before decamping to Nantucket or Martha’s Vineyard.
San Antonio, Texas
That it’s a short flight from both Houston and Dallas — which have large populations of millionaires — is like a big draw of this charming Texas town.
© 2018 Dow Jones & Company, Inc. All Rights Reserved