TTC Presenting at the AITO AGM

Looking forward to attending the Association of Independent Tour Operators (AITO) Annual General Meeting  this week.

TTC’s Matt Purser will be reviewing the current state of play, hosting a Q & A as well as a panel session with travel experts from Legal, Merchant Services, Insurance and Accounting.

Lots to talk about!

In the news: Travel Trade Consultancy featured in The Times

20190523 TTC in The Times

At the 2019 Barclays Travel Forum, TTC Director Martin Alcock joined Paul Carter, CEO of Hotelplan and Petar Cetnik, Senior Risk Manager at Barclaycard to discuss how the travel industry was coping with the Brexit delay. The session later featured in The Times newspaper.

Travel companies are offering discounts to secure bookings in a soft market, but according to industry experts, this will have an impact on their profits later in the year.

Martin Alcock, said virtually all travel companies had been struggling and thinking of ways to increase sales.

“Businesses representing all of the sectors are publicly very upbeat but privately they are all saying it is really difficult.

“Even the ultra-luxury companies are saying they are flat. We may well see these bookings come back, but at what price?”

These companies are expected to feel the impact of discounting later on in the year according to Alcock, and this is because they are offering discounts and low to zero deposits.

Alcock describes this as a ‘short term ticking plaster’. Zero deposits are expensive to fund and if the customers cancels, this is a big risk for companies.

“That, to me, dips into the sub-prime credit market and that’s a very brave place to be in the current climate,” he said.

Paul Carter,  said companies had hoped for a ‘ketchup’ effect of bookings coming in quickly after the Brexit delay, but this had not materialised.

“June discounting is around 30-40% in the market,” he said. “I’m more optimistic in July but we’ve still got some way to go in July and August.

“Mainland Europe has struggled. But we’ve made it up in other areas.”

Additionally, Carter said the industry was hoping for poor weather over the summer to encourage people to travel abroad.

“If it’s a hot summer, it will be really difficult for everyone.”

Alcock said another challenge for the industry had been the cost of advertising on Google, following a fall in the number of people using the search engine to look for holidays.

The drop in searches means travel companies are having to pay up to 20% more than last year to attract a similar number of holidaymakers.

Similarly, the travel industry has experienced the law preventing companies from charging a fee to customers who book on credit cards. This used to be a money spinner for some firms. The change has led to more consumers buying holidays on credit, which in turn has increased the liability for credit card firms in the event of a failure.

Pete Cetnik, said he was unable to comment on individual companies, but pointed out that getting the balance right was challenging.

“It’s important to remember that it’s not our money, it’s the clients’ money.”

 

You can read more about The 2019 Barclays Travel Forum here.

TTC to discuss the 2019 travel trends at ABTA Travel Matters

ABTA’s tenth anniversary Travel Matters conference will take place on the morning of 26 June 2019 at One Great George Street in Westminster, central London.

Travel Matters is the travel and tourism industry’s forum for debating the political and policy issues that matter most to our sector. The theme this year is A Vision for the Next Decade.

TTC Director Martin Alcock present a session looking at economic and geopolitical trends and the impact on consumer confidence and the travel marketplace.

You can read more about the event and register here.

TTC to appear at the Barclays Travel Forum 2019

We’re looking forward to taking part in this year’s Barclays Travel Forum on 22 May 2019 at One Great George Street in Westminster.

Now in its 14th year, it is firmly established as one of the key events in the travel calendar, bringing together senior leaders and industry experts to discuss a diverse range of topical issues.

TTC Director Martin Alcock will be on stage, discussing the post-Brexit delay landscape with host, journalist and seasoned travel sector expert, Jeremy Skidmore, Paul Carter, CEO, Hotelplan UK and Pete Cetnik, Senior Risk Manager, Barclaycard.

 

Other sessions will include:

A Global Economic Update – Alistair Pritchard, Partner & Head of Travel, Deloitte LLP

Getting the best out of your team – Robert Yeowart, CEO of Formula 1 team Sport Pesa Racing Point and John Bevan, CEO, dnata Travel Europe

Treating everyone fairly – are businesses getting it right? Panel discussion with Farina Azam, Partner, Travlaw LLP, Wendy Papworth, Global Diversity & Inclusion Director, Barclays and Lindsay Garvey-Jones, National Retail Manager, Holiday Extras

The business travel market outlook –  Simone Buckley, CEO, Fello

Technology in Travel; the next big trends – Tom Valentine, Co-Founder and Marketplaces CEO, Secret Escapes and Andy Washington, SVP Travel, Culture Trip

The future for holiday hot spots; the threats and solutions for resorts – Nikki White-Wright, Director of Destinations & Sustainability, ABTA Ltd and Tracey Poggio, Chairman, A.N.T.O.R

TTC sponsor ABTA’s 2019 Merger & Acquisitions seminar

We’re delighted to be sponsoring the 2019 ABTA M&A Seminar

TTC will be presenting 2 sessions on the day:

 

– The current M&A climate and trends in the travel industry

– Considerations when transferring a business 

You can find out more information here. Hope to see you there! 

About the event

What are the key issues that are expected to drive M&A activity this year? Hear finance experts discuss trends in the travel industry – understand the current deal environment and outlook for the M&A market.

 

If you are looking to acquire a business, are considering consolidation, or thinking about selling, hear tips on how and where to start the process. Understand the options for investment; trade sales, partial sale to private equity, acquisitions and the key factors for consideration.

 

Certain sectors of the travel market have been particularly active with deals recently, this seminar will explore these sectors and the reasons why investors are focusing their attention here. There will be a focus on what makes your business attractive and expert speakers will discuss why mergers and acquisitions fail including the steps you can take to prevent this.

 

 

2019 ABTA Finance Conference Slides

TTC’s Martin Alcock, was on stage at the 2019 ABTA Finance Conference, discussing some of the current issues facing the outbound travel sector, and highlighting 3 current trends:

– Bookings and consumer appetite in light of Brexit and economic uncertainty;

– The rising cost of customer acquisition; and

– The ongoing consolidation of the European airline sector.

You can view and download a copy of the slides to the presentation here.

201902 ABTA Finance Conference – TTC Slides

 

TTC to host M&A Workshop at the 2018 ABTA Travel Convention

Travel businesses are selling like hotcakes at the moment.

Whilst other parts of the consumer and leisure sector are looking decidedly sickly, travel has remained resilient and has been attracting frenzied investment interest as a result.  We’ve already seen many high profile transactions complete in 2018, including Travel Counsellors, Love Holidays, Barrhead, Great Rail Journeys, Neilson Active Venture, Wyndhams and Classic Collection.

Conditions remain very favourable, with more in the pipeline and seemingly no let-up in appetite from investors.

With this backdrop, we’re delighted to announce we will be hosting a Mergers & Acquisitions Workshop at The ABTA Travel Convention in Seville on 9 October 2018.

The Workshop will focus on M&A trends in travel, and the key drivers behind the travel M&A market.

We’ll be sharing insights gained from advising on more than 20 transactions in the travel sector, including:

-why travel is attractive right now, and what investors are looking for;

-tips and advice on the process of executing a transaction;

-what can go wrong, and how to avoid the pitfalls;

-what it feels like to go through a transaction,

and much more. 

The M&A Workshop will be jointly hosted by Travel Trade Consultancy and Grant Thornton and will be moderated by Ian Taylor, of Travel Weekly.

We’ll also be hearing from Craig Burton, MD of Ski Solutions and Richard Singer, CEO of Icelolly.com

TTC present at ABTA conference in The Azores

10 October 2017

TTC presented their latest news and travel industry insights at the ABTA Travel Convention in Ponta Delgada, The Azores. Director, Martin Alcock led a session on Consumer Trends speaking alongside PwC’s head of Hospitality and Leisure, David Trunkfield and ABTA’s Head of Brand Development, Victoria Bacon.

TTC present at the inaugural ABTA Mergers and Acquisitions in the Travel Industry event

TTC Director Martin Alcock will be presenting at the inaugural ABTA M&A in the Travel Industry event.

This new seminar for 2018 will explore mergers and acquisition activity within the travel industry. Attend this event to get a better understanding of the current M&A climate and the key issues that we expect to drive M&A activity this year. Hear practical advice on how to go through a sale and question the legal, financial and industry experts.

Get an understanding of the steps you need to take to prepare for a sale. Event partner RSM will guide you through when to start and what key considerations you need to think about in preparation for consolidation. You will also leave with a clear understanding of what to expect from the transaction process.

This seminar will provide you with a wealth of knowledge around your legal obligations and will inform you about the practical challenges associated with M&A. A travel industry representative who has been through a merger or acquisition with share their learnings.

Martin will present two sessions, the first focussing on the current M&A climate and travel industry trends, and the second looking at M&A regulation specifically within the travel industry

Other sessions will include:

  • What is private equity and what do investors look for?
  • Preparing for a sale and vendor due diligence
  • The legal considerations around M&A
  • Maximising the balance sheet and considerations for leverage
  • The transaction process and what to expect
  • Post deal considerations

You can find out more about the event and register here