October 2024: Reflections from the latest ATOL authorisation data, Travel Fundamentals and more.
Travel Trade Consultancy | B Corp?
Supporting travel businesses through complex regulatory, financial and strategic challenges.
We had the pleasure of attending ABTA’s Travel Convention in early October in the fantastic Costa Navarino. The sessions covered a mix of the challenges, opportunities, and uncertainties our industry faces. But seasoned with the news that travel continues to defy a decline in consumer confidence.??
One session highlighted that while travel remains a top priority for households, factors like anticipated tax hikes, the US elections, and escalating global conflicts are delaying booking decisions - disrupting traditional cash flows. We explore this and other trends in the latest edition of Travel Fundamentals below.
We also delve into the latest ATOL authorisation data, providing insights into where major ATOL holders expect demand to fall amid such uncertainty. Spoiler alert: While customers may delay their booking decisions, indications are that demand for package holidays will be stronger than ever!
Around two-thirds of ATOL holders and 16 of the top 20 companies submitted their projections in September. We’ve been diving into the newly released ATOL authorisation data from the recent renewal round, and in this post, we share five of our key findings:
1?? Record-breaking total authorised passengers at 33.3 million
2?? easyJet Holidays adds 0.8m passengers and Jet2holidays' licence now surpasses 7m
3?? A widening expectation gap between large and small operators
4?? The ATOL market consolidated even further, with the top 10 ATOL holders now capturing 80% of the market
5?? An increase in franchises as small businesses adapt to industry challenges
Travel Fundamentals is our monthly summary of consumer data, travel trends and not to be missed deadlines. This edition features key highlights from On the Beach, TUI, and Carnival's company announcements. Plus, analysis of spending data from GFK and the latest consumer fundamentals. We also look at the current trading environment, with insights from travel businesses we polled on a recent event and highlights from across the industry.
领英推荐
At the recent Travel Weekly Future of Travel event, TTC Director Martin Alcock remarked, "Everything seems to have been really last minute… I don’t remember last week being this busy." He addressed a group of senior travel business owners about the latest developments in the ATOL renewal round, highlighting the fast-paced changes in the industry.
Our recent Travelcast survey of travel businesses revealed that while summer trading prices were significantly ahead of last year, volumes were mixed. 55% reported volumes ahead of 2023. However, a significant number (29%) experienced a softening in volumes as prices continue to rise. Find out more and view the results in this post
If you loved this content, you can find a whole lot more over on our news & insights page.
About Travel Trade Consultancy
We’ve spent years helping travel companies do their best work. Some of the biggest travel businesses in the world trust us to solve their regulatory, strategic or financial problems.
We’ve helped travel start-ups launch, tour operators improve operations, and airlines get off the ground.
Plus, our 44 years spent working for the UK travel regulator, the Civil Aviation Authority, means we bring a unique perspective to the table along with our know-how.
If you think we might be able to help your travel business, reach out to us at [email protected] - we'd love to chat.