Youtravel boss shares industry predictions
Youtravel CEO John Kent is confident that 2010 will be a better year for his own company, and for the entire travel industry.
Speaking at a Youtravel VIP trip to Crete at the weekend, Kent said: “Whilst the trend toward later and later booking patterns will continue, we firmly believe that 2010 will see a rise in bookings back to 2008 levels.
“But, as with this year, we will witness a margin reduction on bookings, although not as bad as 2009.â€
He believes that this winter season will not bring any major failures like the demise of XL airways and its associated companies.
“With a decrease in aviation fuel and companies like Easy Jet taking up the slack on many routes, I am confident of a successful winter and summer,†he said.
Kent also criticised the attempts by many companies to create bed banks by ‘XML feeds only’.
“The only way one can create a successful bed bank is by carrying out your own contracting,†he said.
“Many have tried to avoid this route buts it’s not possible. There is not enough margin to share.â€
He said Youtravel is still a target for acquisition.
“We have been approached a number of times over the past two years, but we currently have no intention of selling and will never go to the market to sell. We have a long way to go,†he said.
“I do see some consolidation in the market, however, with the potential for maybe an online travel agent and bed bank getting together.â€
Youtravel group managing director Graham Nicholls said the company’s performance has been boosted by its overseas businesses.
“The hard work we put in last year had helped many of our continental investments to prosper.
“In France, Germany, Italy and Russia, all sales levels are up on previous years and it is a trend we see continuing.â€
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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