On the Beach Group is predicting its ‘biggest summer ever’, reporting total transaction value (TTV) of holidays is up 22% year-on-year.
The company’s interim trading statement reports TTV of £597.8 million, resulting in group revenue of £80.8m.
Chief Executive Shaun Morton said trading momentum and higher prices meant: “We are confident of delivering our biggest summer ever’.
He said: “I am pleased to report another strong set of results, marking our ninth consecutive quarter of record performance. TTV was up 22% as we saw strong growth across both volume of bookings and the average value of holidays sold.
“Our customers are favouring our premium and Long Haul beach holidays, whilst making the most of our enhanced customer perks.”
On the Beach said its recent distribution agreement with Ryanair was ‘a milestone achievement’, adding: “In the two weeks since the partnership went live, demand for Ryanair seats has been encouraging and supports the growth of our value proposition that is enjoyed by families across the UK.”
It said Classic Collection Holidays and Classic Package Holidays remain ‘a meaningful part of our Group, and we remain committed to continuing the growth and supporting the trade with quality service and products’.
The company announced in March it was in discussions with staff after deciding to simplify its B2B operations.
It added: “B2B operates in an increasingly competitive market, particularly post pandemic, where competition has intensified. To win share in this market, we need to operate with a simple operating model for the benefit of suppliers, agents, and customers.
“We will be supporting the B2B channel with a single brand trading as Classic Collection, and a single platform solution leveraging Group technology and operations. Following a short transitional period, B2B will be a more closely integrated channel within the Group, represent a single segment, and adopt an agency revenue recognition policy which will simplify Group reporting.
Si Morris-Green has taken up the role of Director of B2B and will lead the business through our next chapter of growth. Having recently completed a period of collective consultation, we are providing dedicated support to our teams, including those affected.
“We expect these actions will deliver a significant improvement in operating efficiency and return this channel to profitability.”
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The company’s interim trading statement reports TTV of £597.8 million, resulting in group revenue of £80.8m.
Chief Executive Shaun Morton said trading momentum and higher prices meant: “We are confident of delivering our biggest summer ever’.
He said: “I am pleased to report another strong set of results, marking our ninth consecutive quarter of record performance. TTV was up 22% as we saw strong growth across both volume of bookings and the average value of holidays sold.
“Our customers are favouring our premium and Long Haul beach holidays, whilst making the most of our enhanced customer perks.”
On the Beach said its recent distribution agreement with Ryanair was ‘a milestone achievement’, adding: “In the two weeks since the partnership went live, demand for Ryanair seats has been encouraging and supports the growth of our value proposition that is enjoyed by families across the UK.”
It said Classic Collection Holidays and Classic Package Holidays remain ‘a meaningful part of our Group, and we remain committed to continuing the growth and supporting the trade with quality service and products’.
The company announced in March it was in discussions with staff after deciding to simplify its B2B operations.
It added: “B2B operates in an increasingly competitive market, particularly post pandemic, where competition has intensified. To win share in this market, we need to operate with a simple operating model for the benefit of suppliers, agents, and customers.
“We will be supporting the B2B channel with a single brand trading as Classic Collection, and a single platform solution leveraging Group technology and operations. Following a short transitional period, B2B will be a more closely integrated channel within the Group, represent a single segment, and adopt an agency revenue recognition policy which will simplify Group reporting.
Si Morris-Green has taken up the role of Director of B2B and will lead the business through our next chapter of growth. Having recently completed a period of collective consultation, we are providing dedicated support to our teams, including those affected.
“We expect these actions will deliver a significant improvement in operating efficiency and return this channel to profitability.”
The post On the Beach says it’s committed to Classic Collection as it prepares for ‘biggest summer ever’ appeared first on Travel Gossip.
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