search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
The Interview


John & Irene Hays, Hays Travel


Hays Travel stunned the industry with its takeover of the 555 former Thomas Cook shops last week. Managing director John Hays and chair Irene Hays talk Ben Ireland through their plans


Q. How has it been since the deal was announced last Wednesday? A. We’ve had a lot to do already, but now the work starts. We’ve had huge media interest, absolutely massive, which has got to be good for us. Most of the comments have been positive, which gives us a kick-start in the areas where Hays does not already have a presence.


Q. You opened 186 shops by Tuesday. Have there been any logistical hurdles? A.Te number of staff we’ve recruited has been huge and we are recruiting very fast. We have only been able to change a few shopfronts [Sunderland was changed on Monday] and there’s the logistics of geting all the systems up and running. We need to assess the compatibility of the Tomas Cook systems. We have lots of work streams going on. It’s progressing about as well as we could have hoped for.


Q.What agreement have you come to on the leases? A. Te landlords had leases with Tomas Cook. Tomas Cook is in


18 17 OCTOBER 2019


liquidation. Te leases were until the last quarter date (September 29). As part of the deal, we have paid the arrears of the rent to the liquidators to pay the landlords. We have also paid the rent up to the next quarter date (December 24). In practice, we have extensions beyond that. Te next phase (which began Tursday) is writing to all the landlords asking ‘do you want to assign the Tomas Cook lease to Hays Travel on the same terms?’ Te next phase is changing the name on the lease. We are not negotiating the leases down.


Q. Will you review the leases when they come up for renewal? A.Tat’s always the case with leases. We have certainty of being the tenant for at least six months, and with an option for a three-month extension. We have also got all the fixtures and fitings and customer databases.


Q.How important was it to acquire the databases? A. It’s really important that we are able to communicate with these customers.


Q.How are you financing the deal? A.We own the retail estate outright, and [the deal] will be funded with no debt.


Q.Have you got the support of other operators, maybe Jet2holidays, to provide enough product? A. I’ve spoken to [chief executive] Steve Heapy and he was very supportive. I wouldn’t like to speak for Jet2holidays or talk about their plans, but we are very big partners and have an excellent working relationship. I’m optimistic [about the wider market]. Tere’s plenty of product [to sell]. Everybody wants to work with us. We are a successful business and, because we are independent and offer all the


tour operators, we are optimistic we will trade well in all the shops. Both the existing Hays Travel staff and the former Tomas Cook staff have been incredibly enthusiastic.


Q. You recruited 1,982 staff by Tuesday. How has the recruitment process been? A.When they are joining us they have been really emotional – and we are as well. Tese people didn’t do anything wrong, then one day their company went into liquidation and their jobs were gone. When we have been offering positions, a reasonable percentage have cried. We’ve ordered thousands of laptops for training purposes, and IT worked through the night to configure them and ship them to various parts of the UK.


We have a very different strategy to Thomas Cook and I’m optimistic and confident for the future


travelweekly.co.uk


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  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88