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    Home » Saga Declares Exceptional Progress in Cruise and Travel Sectors
    Tourism

    Saga Declares Exceptional Progress in Cruise and Travel Sectors

    News TeamBy News Team30/01/2024No Comments2 Mins Read
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    The travel company Saga highlights an exceptional year, showcasing significant growth and profitability in its cruise and travel sectors.

    • Saga’s ocean cruise division anticipates a 30% revenue increase, surpassing £40 million in profits per ship for the year.
    • The river cruise segment rebounds with revenue expected at £44 million and passenger numbers rising significantly.
    • Tour operations see substantial recovery with revenue growth projected up to 45% and passenger increases of 20%.
    • Saga’s strategic adjustments aim to optimise cruise operations, enhance market standing, and secure robust bookings for future seasons.

    Saga, renowned for serving the over-50s demographic, has reported an “outstanding year” for its cruise and travel businesses, suggesting robust progress towards profitability. In a recent update, the company highlighted its efforts to optimise its ocean cruise operations, potentially through partnership deals, as part of a capital-light business model.

    The ocean cruise segment of Saga is forecasting an impressive 30% increase in revenue year-on-year, with profits expected to exceed £40 million per ship annually. This growth is bolstered by a higher booked load factor for 2024-25, which stands at 66%, a marked improvement from the 62% of the previous year.

    Saga’s river cruise sector is set to return to an underlying profit, with projected revenues of approximately £44 million and passenger numbers reaching 17,000, improving significantly from the prior year’s 12,000 passengers and £29 million revenue.

    On the tour operating front, Saga is on track to achieve pre-pandemic profit levels, with anticipated annual revenue growth of up to 45%. The passenger count is expected to rise by 20% to 58,000. These figures reflect the successful integration of the tour operating arm with the river cruise business.

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    According to Mike Hazell, Saga’s CEO, the travel division is also making notable strides, aligning well with recent market dynamics. By January 28, 2024, Saga had secured bookings amounting to £115 million for the upcoming year, which represents a 12% increase from the previous year, with passenger numbers also climbing to 35,000, a 2% increase.

    Saga’s strategic focus and successful execution have resulted in a strong return to profitability, underscoring its resilience and market appeal.

    cruise Mike Hazell ocean cruise profitability revenue growth River cruise Saga tour operating
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    Velas Resorts Unveils Velas Ambassador Club in Partnership with My Booking Rewards

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