The purpose of this study is to adopt a segmentation approach in order to classify travellers who intend to travel to luxury destinations in the post-pandemic era. Four distinct Australian segments (with n = 481) were identified based on generational cohorts through two-step cluster analysis and analysis of variance tests. The findings exhibit how consumers differ in their perception of values and risks, and their price consciousness in their travel decision-making process. This study makes a novel contribution to the luxury tourism body of knowledge and provides important implications for tourism marketers.