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Tourico Holidays expanding room block pre-purchasing strategy
Tuesday, 23 Sep, 2015
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Travel wholesaler Tourico Holidays plans to escalate its unique strategy of pre-purchasing hotel rooms in large blocks.
To this end, the company has formed a new specialist ‘ExclusiveDeals’ contracting team to secure room blocks.
"Howard Johnson Penn Station, in New York City, was the first ‘ExclusiveDeal’ we ever signed, a $277,000 annual commitment. Now we have over 20 pre-buy partners in New York City, including 44,000 room nights at the Grand Hyatt New York in 2015, and over 400 total exclusive partners worldwide," said Tourico founder and CEO Uri Argov.
Argov says this higher risk strategy has reaped rewards.
‘ExclusiveDeals’ room blocks make up only 2% of total inventory but generate 42% of revenue.
To support the expansion of the ‘ExclusiveDeals’ business, Tourico has appointed Michael Deane as new senior strategic product director, and Bill Chambers as VP strategic product development.
Deane and Chambers will report to Executive VP of product development, Dermot Quigley.
"Hotels have the unique opportunity to guarantee monthly income and to utilize Tourico as an easy, no-cost way to increase distribution and visibility of their brand," Argov added.
"Additionally, our travel agent clients are guaranteed the availability of high-demand rooms in key markets with the potential to increase their margins by 10% or more."
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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