08 October 2008

Industry bigwigs tell how to survive

Leading industry figures have been giving their views on how to survive the credit crunch.

In a video taped for the ABTA Travel Convention, CunardÃ¢â¬â¢s Peter Shanks said that next year the cruise companies would talk about the value they offered rather than focusing on quality.

Ã¢â¬ÅâœIt will be tough but we have to stress value and the important thing is to make sure that quality does not suffer one iota,Ã¢â¬~ he said.

First ChoiceÃ¢â¬â¢s Peter Long and Thomas CookÃ¢â¬â¢s Manny Fontenla-Novoa said it was important to be offer customers what they wanted Ã¢â¬' greater choice and flexibility.

Meanwhile, new Triton chairman Stephen Freudmann said training and added value were important.

Ã¢â¬ÅâœI can see rationalisation, consolidation and polarisation and I want to make sure that for Triton there is not isolation.Ã¢â¬~

Later, in a question and answer session, Royal Caribbean Cruise LineÃ¢â¬â¢s Jo Rzymowska said bookings had been erratic recently but she was confident about the future.

Ã¢â¬ÅâœBookings have been somewhat erratic. We did check to see if the phones were still working after the Lehman crash, but that was a blip," she said.

Ã¢â¬ÅâœAll the indications are that the cruise market will continue to grow as it offers great value for money and has high satisfaction levels.

Ã¢â¬ÅâœWe feel fairly bullish. Yes, it is tough but we must upgrade those who book early rather than dropping prices Ã¢â¬' we need to keep the current model to encourage people to book early.Ã¢â¬~

Among the panel, which included Chris Photi from White Hart Associates and Chris Brown from TUI, there was general dismay at the stance of Martin Broughton, the president of the CBI and chairman of British Airways, who is not in favour of a levy to provide financial protection for all airlines. He does not feel that large companies should subsidise small firms.

by Jeremy Skidmore