‘Significant rise’ in transaction value for Lowcost Travel Group

‘Significant rise’ in transaction value for Lowcost Travel Group

Lowcost Travel Group achieved earnings [EBITDA] of €2.9 million in the 2013/14 financial year.

The company claimed a “significant rise” in total transaction value to €643 million for the group’s Majorca-based lowcostholidays and Swiss-based trade bed bank lowcostbeds.

No comparative figures were released for the previous 12 months but the company is reporting that accommodation sales are on track to reach more than €800 million in 2014/15.

A multi-million pound investment in the lowcostholidays brand over the last 12 months has resulted in 60% prompted recall in the UK and market leadership position in Ireland as an OTA, the company reported.

Savings from a new customer service office established in Krakow in Poland over the winter to manage multiple back office functions will further assist the group to reduce its operating costs, as well as improve service delivery.

Founder and chief executive, Paul Evans, said: “The lowcosttravelgroup is now firmly established as a global business, one of the top six global bed banks as well as a leading European OTA.

“After five years of growth and investments, I believe we have a strong team and two well established brands with increasing supply and connectivity for our customers.

“I am particularly pleased with the management team we have now built, which allows me to focus more on the next steps for the group.”

Chief operating officer, Alex Gisbert, said: “Our investment in a strong senior management team, increased connectivity, an enhanced brand, our new app and further technology and hotel supply investments are really delivering returns for the group.

“In addition, the offices we have developed in Switzerland, Palma, Atlanta and Bangkok are now established supporting our focus on new global distribution opportunities.

“Our trade business lowcostbeds remains the key area for the group with demand for global accommodation growing from the 44,000 travel agents and operators currently connected to the website, and 800 plus XML customers, with in house hotel inventory predicted to increase to 25,000 hotels including the major chains by the end of the year.”

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