Three industry veterans launch website offering advice to companies ‘in distress’
Three travel industry veterans have joined forces to launch a website offering free advice to travel businesses during the coronavirus crisis.
Reboundconsulting.co.uk will include advice from its founders, Teletext non-executive chairman Steve Endacott, former TUI finance director Will Waggott and SkiPeople.co. chairman Seamus Conlon, plus information from other professional advisors.
Endacott said the site had been set up to advise companies ‘in distress’ on how to navigate out of the current crisis.
It will look at long term strategic advice, cash and cost control, restructuring and options for financing and refinancing.
"Having sold Holiday Taxis last January, I have the time and experience to be able to help travel companies during these turbulent times," said Endacott. "Unfortunately, during my career ,as well as success, I have had to manage businesses like MyTravel and On Holiday Group through extremely challenging times and, in the case of On Holiday Group, administration.
"This has given me an extensive knowledge of what management teams can and can’t do to manage cash/resources, without putting themselves at legal threat during times of crisis and potential collapse."
Waggott has been involved with restructures at Airtours, TUI and Thomas Cook and also has experience of running smaller travel businesses, most recently at Travelopia. "These are clearly unprecedented times in the modern travel industry, many travel businesses are going through an incredibly difficult time and I would like to use my experience to help these businesses rebound back on their feet when the upturn comes."
The three believe travel businesses need to use any quiet time now to prepare for that rebound. "We are likely to see an ultra late market for summer 2020 and an ultra early market for 2021 fuelled by customers shifting deferred holidays from the current lock down period. How companies communicate and retain customers during the lockdown period will be crucial to their rebound and strategies need to be discussed and implemented now," said Endacott.
Conlon said: "During my time at Cruise.co.uk we had to re-invent our customers’ acquisition strategies several times to move away from high cost channels to lower cost and evolving changes like Facebook, Instagram etc. This is just one of the strategic re-evaluation many travel companies need to do over the coming months and I look forward to helping with this process via Rebound Consulting."
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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