p16 comment Jan29 27/1/10 09:37 Page 16
news comment
ttglive.com
Jill Gardner Hays Travel
“It doesn’t take a genius to
work out the crippling effect
on a business the delay in
receiving cash flows has”
I
have followed with interest and ensure both our customers and our business
concern the recent developments are protected in every way. The last 18 months,
around the failures of Globespan and since the failure of the XL Leisure Group, have
the Albury Travel Group and their only highlighted in greater detail the need for
links with E-Clear. us to insure our business, and our clients,
I guess that it is not just these two against the failure of any of our suppliers.
large, high-profile failures that have been I’m relieved to report we have succeeded
affected by their association with E-Clear. in doing this, but I wonder how many agents
We as agents are now feeling the effects out there enjoy that comfort – or are even
of these significant failures with all the aware of the risk to both themselves and
additional work that comes along after their customers.
something like this happens, as are our I fear for more firms falling by the wayside,
customers. given the most recent demise of Apartments
It is becoming increasingly difficult Abroad last week, and for how many busi-
for travel agents to negotiate terms nesses and customers will be left exposed.
with merchant facility providers in On a more positive note, at Hays we are
the current marketplace. In some seeing a January that we could only
instances it is impossible to get any dream of this time last year.
terms at all. And I believe it’s not just We went into this year with
for new players who want to enter our cautious optimism for a busy
market, it is also true for existing start to the new year. Now all
established agents who may well have the snow has gone, we are
been trading successfully for a number of definitely seeing it in all areas
years, who are finding themselves victims of our business, from our
of the current tough economic climate. retail stores through to home-
It doesn’t take a genius to work out the working and across the diverse range of our
crippling effect on a business the delay in Independence Group members.
receiving cash flows would have in times like One of our mantras at Hays has long been
these. And as many in our industry know, or one of making sure we look after our suppliers
have already experienced, businesses are by supporting them in busy times and I believe
suffering from this daily. we are successfully doing this.
As a “bean counter” in my previous life, I am Long may it continue...
bordering on obsession when it comes to the
risks around our business here at Hays. Our Jill Gardner is commercial director at
priorities with regard to risk remain to be to Hays Travel
16 29.01.2010
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