The travel market is abuzz as On the Beach forecasts a significant leap in summer business, surpassing the record set in 2023.
- A strong focus on competitive pricing and volume growth is central to On the Beach’s strategy to capture market share.
- The company reports a 27% year-on-year growth in peak period total transaction value, fuelling its ambitious projections.
- Investment in brand, proposition, and platform is expected to drive core and expansion area growth.
- On the Beach is confident of delivering profits aligned with market expectations, estimated at £30 million.
The travel landscape is witnessing a compelling development as On the Beach sets its sights on surpassing its 2023 summer business records. The company’s robust strategy focuses on maintaining competitive pricing and driving volume growth to increase market share. This approach is underpinned by a reported 27% year-on-year rise in peak period total transaction value.
On the Beach’s commitment to its brand, proposition, and platform investments is propelling growth in both core and expansion areas. This commitment is reflected in its promising forward order book and strong momentum, positioning it significantly ahead of the previous financial year. The company is leveraging its proprietary platform to enhance customer experiences and engage consumers who view holidays as essential expenditures.
Shaun Morton, the group chief executive, confidently stated, “I am pleased to report that the momentum we experienced throughout last year has continued into this new financial year, with significant TTV growth across our core and expansion areas.” Such growth is attributed to the successful realisation of investments across their platform and brand.
The organisation is resolute in delivering its projected profits, aligning with current market expectations of £30 million. This target is bolstered by a notable 34% increase in Winter ’23 TTV compared to the previous year. Consequently, the board remains optimistic about the outlook for Summer ’24, anticipating it to significantly surpass the achievements of Summer ’23.
On the Beach is poised for a record-breaking summer with strategic focus on growth and competitive pricing.
