Rise in “DIY leisure†to have negative impact on agents and operators
Thursday, 05 Feb, 2010
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Traditional travel and leisure companies have been urged to adapt to a consumer desire for “individual leisure” or lose out over the next three years.
The warning came from market research consultancy Finaccord with the release of findings on the future of the hospitality sector.
The research shows that market recovery for travel agents and tour operators will take time and the segment is set to decline by one per cent by 2013.
But the research distinguishes between businesses with a turnover below £100,000 that saw 4% growth over the past five years, and companies with a turnover between £100,000 and £5 million where numbers fell.
The internet has affected travel agents and tour operators very differently depending on their size.
The impact has been negative for larger travel agents and tour operators as consumers are much more likely to book travel online, cutting out the traditional travel agent.
The story is different for small, specialist travel agencies that have benefited from new opportunities, the research shows.
Many small hotels, guest houses and B&Bs (with a turnover below £1 million)
will be “assigned to history” while the number of bigger hotels and guest houses (with a turnover between £1 million and £5 million) will grow by 19% in the next five years.
After a strong growth of 10% over the past five years, the segment covering private individuals letting out holiday homes and camp sites/holiday parks is predicted to increase by six per cent by 2013 and to reach nearly 50,000 enterprises,
Event organisers and venues will be one of the fastest growing SME segments over the next five years in the UK and is forecast to grow by 13% by 2013, according to the resreach.
Company consultant David Parry said: “With the rise of the ‘do it yourself’ leisure, more and more people prefer to organise a wedding the way they want it instead of using a Registry Offices, to holiday in self-catering homes rather than stay in B&Bs, and to make their own travel bookings rather than use a tour operator.
“The future lies with individual leisure, unless traditional hospitality companies can adapt to these trends.”
by Phil Davies
Phil Davies
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