p4 news Oct30 28/10/09 19:11 Page 4
news
30.10.2009
Big Idea winner
becomes supplier
Cash reserves ‘not
TTG Big Idea 2008 winners Perfect Weddings
Abroad has launched to the trade as a wedding-
enough to survive’
only supplier.
The move follows a six-month trial period
selling packages through a handful of Hays
Lee Hayhurst.
grow by volume, therefore they are
Independence Group members. TRAVEL FIRMS have been warned not going to have to grow by market
Founder Danny Waine said: “For too long to expect their cash reserves to help
C
O
share, therefore there is going
agents have been forced to book with operators them survive a recession that is set to
STO
VER
to have to be consolidation and
who demand that the wedding and travel last longer than previously thought.
R
Y there are companies with very low
arrangements are booked together, which Last week’s surprise announcement reserves,” he said.
doesn’t always result in the best deal, or service, that the UK was still in recession and that The latest bad news about the UK
for the customer.” the economy shrank 0.4% between July and economy saw the pound fall against the two main
The firm is aiming for 50% of its business September dented hopes the worst was over. holiday currencies, the euro and the dollar.
to come through the Commenting on the latest economic outlook, This prompted speculation in the City that
trade within six Hays Travel managing director John Hays said he traders will push the pound towards parity with
months and has expected a “bathtub-shaped recession”, suggest- the euro during the winter, traditionally a weak
already reported a ing a downturn that could last for a decade. period for the UK currency.
flurry of enquiries That was not a view shared by travel industry The government could look to spark a recovery
including for late ski accountant Andrew Burnham, principal in travel in sterling by the middle of next year by raising
weddings. and leisure at McIntyre Hudson. rates, but has said it would do so only after two
But he did predict a long struggle for the next successive quarters of growth.
■ For an agent login and more details, email two years. And with the Bank of England indicating it will
danny@perfectweddingsabroad.co.uk “Any business operating in travel has to be extend its programme of quantitative easing,
conscious about handling its cash reserves or buying the UK’s debt, interest rates are
and not expect a sharp hockey stick-shaped expected to remain low.
recovery,” he said. Earlier this year PricewaterhouseCoopers
Burnham said although there were fewer estimated travel firms had lost up to 50% of their
potential buyers of travel firms, there were an income due to historically low interest rates.
increasing number of owners who had “lost the
fight” and wanted to sell up. ■ John Hays sees opportunities in recession:
“It’s going to be much harder for businesses to Homeworkers’ Conference report, p10
Teletext vets advertisers’ offers
TELETEXT’S compliance team has written to find their loads excluded for a minimum of three
advertisers following “high levels of complaints hours,” it said.
alleging use of unrealistic pricing”. A Teletext spokesman said the complaints had
The email sent, which was sent out earlier this been followed up but no companies had been
month, stated that checks would be increased found guilty of bad practice.
WIN! Attraction World has 500 pairs of and that offers appearing on Teletext would now She continued: “A couple of advertisers have
tickets for Disney’s new movie A Christmas be cross-referenced with offers on advertisers’ recently raised the issue that some companies
Carol to give to agents as part of its sites with a view to excluding non-genuine are promoting low lead-in prices to generate
Disney Ultimate Ticket sales incentive. offers. calls, but the compliance department is comfort-
To enter, make a booking and email the “Any advertiser seen to be breaking the rules able all advertisers are sticking to guidelines
reference to disney@attractionworld.com and offering prices that clearly don’t exist will and is not taking action.”
04 30.10.2009
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