Optimism is prevailing among major tourism groups – companies that, through determination and resilience, have proven their ability to adapt and survive. Although the pandemic disrupted all forecast and radically transformed distribution strategies. However, the industry has learned to live with uncertainty and to plan in new ways.
How the sector id adapting and preparing for recovery
At Dome Consulting, we have seen firsthand that during the most challenging moments, leading companies chose to invest in improving their management, distribution, and operational tools. As a result, we know that these financial and training efforts are already beginning to pay off.
Every crisis brings an opportunity, and we have clearly observed that, faced with the drop in demand throughout 2020 and part of 2021, companies were able to take the necessary time to optimize their internal processes. This allowed them to better prepare for the surge in demand that followed once travel restrictions were lifted. At Dome, we supported our clients throughout this entire process, while also beginning to work with new ones who have decided to invest in technology for the future of their businesses.
Looking ahead to the upcoming summer season, booking trends are very positive, reaching 2019 levels and with projections pointing to a 12.2% increase this year.
One of our clients, World2Meet, expects to reach €1.121 billion in revenue – 40% more than in 2019 – surpassing six million passengers over the course of the year. Their outlook includes operating across nearly 175 source markets, offering access to more than half a million hotels (both directly contracted and via third parties), and reaching 5,000 B2B clients through web and XML connectivity.
Meanwhile, Ávoris anticipates that 2022 will be a transitional year, with full recovery to pre-pandemic levels expected in 2023, in line with the broader industry’s economic rebound.
Grupo Julià is also entering a recovery phase following its recent agreement with management board of the Fund to Support the Solvency of Strategic Companies. Through this agreement, the group will recieve a long-term capital injection of €38 million from the Spanish State-owned Industrial Holding Company (SEPI). Similarly, another of our clients, Wamos, recieved approval from SEPI in February this year for an €85 million support package.
At Dome Consulting, we are confident that 2022 will mark the year of economic recovery and consolidation for the sector, driven by the financial and strategic strength of major tourism groups.
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