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Holidaybreak snaps up ex-BA chief
Holidaybreak, the specialist operator has appointed former British Airways chief executive, Bob Ayling, as chairman.
Current chairman, Angus Crichton-Miller, will step down as planned, in June 2003 to be replaced by Mr Ayling, who has not worked in the travel industry since he quit BA two years ago. He will act as a non-executive director until June.
Holidaybreak, which specialises in adventure and camping holidays, also announced today a sixth successive year of record profits. It reported Group turnover of £218.7 million, up 13.6 percent year-on-year, and profit before tax of £27.1 million, up 13.7 percent year-on-year. The operator was reported to be the most profitable company among British travel agents and tour operators during 2001, according to a report published by The Prospect Shop earlier this year.
Holidaybreak bought Eurosites from MyTravel in September for £29.9 million. It is expected to boost revenues for the camping division in 2003. Its camping division performed strongly in 2002, especially in the UK, and sales increased by five percent to £109.2 million.
The biggest growth was in Hotel Breaks, which reported a 33 percent increase in sales to £76.9 million. The operator reported rapid growth in online demand and increased economies of scale providing improved margins.
The Adventure Division was badly hit by holiday cancellations following 11 September, and its popular destinations being taken “off limits”. However, sales recovered in the latter part of the year to achieve growth of five percent to £32.6 million.
Sales for Summer 2003 are three percent behind last year in the Camping Division, but the company said this was not surprising, in light of the increasing trend to book holidays at the last minute. Sales in Hotel Breaks are 33 percent ahead, and in Adventure are 40 percent ahead of last year.
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