Youtravel boss outlines strategy
Youtravel boss John Kent has outlined plans to grow the group outside of the tough UK market.
The company’s founder and chief executive said margins have been squeezed so much in the UK that it was focusing on developing its trade and consumer accommodation-only businesses in other countries, particularly Germany.
“We are trying very hard to expand both sides of the business outside of the UK,” said Kent, in an exclusive interview with TravelMole.
“In the UK, both our business to business and business to consumer markets have been squeezed very much margin wise.”
Kent said margins have halved in the last eight or nine years since he ran his previous company Medhotels.
“This trend is not happening in other countries. Margins for the same hotel in Germany or France are 70% higher,” he said.
At present, around 80% of the group’s turnover is generated in the UK.
“We will not lose market share in the UK, but we want to grow the international side so the UK share of our turnover is lower than 80%,” said Kent.
Non-executive director David Howell, who joined the Youtravel board earlier this year, has recently been appointed as group managing director.
He replaces Graham Nichols who left earlier this month, along with sales and marketing director Paul Riches.
Matt Cheevers, who joined Youtravel in November, has had his role expanded to include sales and marketing following Riches departure.
He will continue his responsibilities for UK and international sales but now also takes on the role of UK managing director.
Youtravel.com is funded by a company set up by Kent and a member of the Saudi royal family.
The pair also own Aquis Hotels, a group of hotels in Greece.
Kent said Aquis would be expanded beyond Greece and by next summer it would have at least two new hotels, probably in Turkey or Spain.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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