On the Beach to capitalise on Thomas Cook collapse
On the Beach has ramped up its marketing to seize a greater share of the market at a faster rate following the collapse of Thomas Cook.
In a trading update today, the OTA said trading for the 12 months to the end of September was in line with its revised expectations announced on August 9. At the time, On the Beach issued a profits warning, saying that it was struggling to gain marketshare while maintaining margins due to the fall in the value of sterling.
However, the company said this morning that the collapse of Thomas Cook on September 23 had ‘created an unprecedented opportunity to take additional market share at an increased rate’.
"As a result, the Group has started to strategically increase its marketing investment both online and offline to attract new customers to onthebeach.co.uk, sunshine.co.uk, Classic Collection and Classic Package Holidays, and is well positioned across all channels," it said.
The Group will update shareholders further on release of the preliminary results on November. 27.
CEO Simon Cooper added: "I would like to thank all teams across the business for their exceptional response following the compulsory liquidation of TCG [Thomas Cook Group] in ensuring that customers were either re-booked or refunded in the shortest possible time whilst maintaining our high quality customer experience standards.
"On the Beach has an exciting opportunity to significantly increase its market share over the short to medium term by leveraging its strong brand and core capabilities."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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