Latest figures released by the Lowcosttravel Group show a significant rise in turnover to €643 million for 2013/14, with Majorca-based Lowcostholidays and Swiss-based trade bedbank Lowcostbeds reporting an EBITDA of €2.9 million after several years of consistent and significant investment across their brands.
The group’s large multimillion euro investment in the Lowcostholidays brand over the past 12 months has resulted in 60% prompted recall in the UK and the market leadership position in Ireland as an OTA. It also reported that sales are currently on track for €800+ million of accommodation sales for 2014/15.
“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,” said Alex Gisbert, Chief Operating Officer (above). “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+ XML customers, with in-house hotel inventory predicted to increase to 25,000 hotels including the major chains by the end of the year.”
Additional savings from a new customer service office established in Krakow, Poland, over the winter to manage multi back office functions will further assist the group to reduce its operating costs, as well as improve service delivery.
Paul Evans, group founder and Chief Executive, added: “The Lowcosttravelgroup is now firmly established as a global business, one of the top six global bedbanks 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.”
