Destinations

Nearly 75 travel agencies in UK are in deep financial strain

Skift Take

Not surprising, the UK high street-based travel agents are under deep financial pressures, both from the decline-of-main-street macro trends, and from flight-of-travel-users-to-digital industry trend perspective.

— Rafat Ali

More than 70 tour operators are showing the same characteristics as HMV, Comet and Blockbuster, according to a review of the industry by financial analysts Plimsoll Publishing…sales at 77 travel companies have declined in the last year and profitability has plummeted.

These have seen their sales fall by up to 20%. Two-thirds are losing money and many have seen productivity fall to such an extent that they are becoming increasingly uncompetitive in a fast moving market, it said.

“Historically, these businesses would have been seen as good acquisitions. But today you would need to question their value and how they would sit in the future market.”

Tags: travel agents, uk

Destination Mexico: The Evolution of Luxury Travel

Luxury travelers are looking for more than just posh accommodations and generic pampering. Savvy suppliers and tourism organizations are capitalizing on the desire for authentic experiences, as the sharing economy continues to present new ways to connect travelers with local culture.

Read More

Next Story

Loading...

Loading...