p6 news June5 3/6/09 20:24 Page 6
news
ttglive.com
Forex card launch
in 100 might buy a holiday, but the other 99 will
buy forex somewhere,” said Endacott.
He estimated that the UK’s five million annual
dynamic package customers each take £500
spending money abroad, equating to £2.5 billion.
for online agents
MyTravelCash Cards are available in euros
and US dollars and are backed by Mastercard and
Newcastle Building Society.
Agents selling them will be offered commis-
sion based either on the amount uploaded or
number of cards issued.
Lee Hayhurst.
and are charged uncompetitive exchange rates. Endacott, who claimed he liked the idea so
A NEW pre-paid cash card is tipped to give online The worst offenders were airport outlets much he tried to buy the company, said the main
agents easy entry into a £2.5 billion market and where 40% of travellers buy foreign exchange. issue was raising awareness.
provide an alternative to the foreign exchange “Online players have zero forex income but The firm behind the cards, CorporatePay,
“rip-off culture”. have an enormous amount of traffic. One visitor has an agreement with VisitBritain to market
MyTravelCash Card launched this week, with pre-paid cards for inbound visitors from Europe
On Holiday Group chief executive Steve Endacott and the US.
named as a non-executive director. Myles Stephenson, chief executive of
Endacott will be at next week’s ITT conference CorporatePay, said because it bought and sold
in Dubai to promote the card. foreign exchange it could manage its rates better
He claimed it offered customers the most and this gave it greater “cost efficiency”.
affordable way to buy foreign exchange, and Tui Travel last month unveiled a similar pre-
opened a new market for online agents. paid cash card (TTG April 29), but Endacott said
Endacott slammed the current forex sector, DIY agents would be competitive against the
echoing a recent Which? Holiday report that multiples, which use them as a way of keeping
concluded that customers pay exorbitant fees Myles Stephenson (left) and Steve Endacott launch MyTravelCash forex overheads down while retaining margins.
‘Leisure won’t recover till 2011’
LEISURE travel agency sales may not fully recover decades ago and has seen off previous down-
until 2011, according to a leading industry figure. turns and recessions.
Willie Stewart, owner and founder of Ayrshire- But the former Scottish Passenger Agents’
based independent agency Stewart Travel, said Association president predicted prolonged
he believed the sector would struggle for longer uncertainty. “Everyone has suffered to a certain
than had been predicted. extent because of the economy,” he said. “But London mayor Boris Johnson and Paul Robin at City Hall
The industry veteran was speaking to TTG at I don’t think we’ll see a proper recovery until
the Advantage Champions Conference in Belfast the back end of next year or early 2011.
this week. “A general election will take place either
Boris says BTM is
Stewart’s company was founded almost four this year or next and with it will come more
uncertainty. Only afterwards can we look honour for capital
forward to better times.”
Mixing business with pleasure: Advantage’s Stewart said the struggling leisure business BUSINESS Travel Market founder and event director
travel management company members are to had been offset by a corporate travel sector Paul Robin met London Mayor Boris Johnson at
make extra cash by selling holidays to business which was “holding up”. City Hall this week to discuss the event.
travellers. “Business is also having a tough time, but we The new exhibition for the European business
Global hotel network Win, of which Advantage can still go out and win new accounts. That’s travel industry will take place on June 17-18 at
is one of five shareholders, has launched a what makes it different from leisure,” he said. London’s ExCeL.
Travel Without Boundaries programme to target “Corporates want to take costs out of their BTM will see business travel buyers from
the leisure market. business. We can help them do that. 12 European countries as well planners and
The initiative will see business travel agencies “Some corporates have bemoaned poor suppliers from multinational corporations and
supplement their income by organising leisure service levels received from bigger TMCs. We smaller businesses come to the capital.
trips for clients. have therefore been able to win accounts from Johnson said: “It will be an honour for the city to
The organisation has struck exclusive our bigger competitors.” host this major forum. I am encouraged Business
room-rate deals with a selection of luxury Travel Market is presenting a strong positive
hotels around the world. ■ Full coverage from the Advantage Champions message to the industry at this crucial time.”
Conference in next week’s TTG TTG is the official media partner for BTM.
06 05.06.2009
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64