Restructuring and recovery specialists from Smith & Williamson LLP and CMB Partners UK have been appointed as joint administrators to Lowcosttravelgroup and other companies in its group. The group ceased trading earlier following attempts by the group’s directors to rescue the group, which has been hampered by the recent and ongoing turbulent financial environment.
Lowcostbeds has added more hotels in long-haul destinations to its existing portfolio of rooms as it launches a new XML gateway. The accommodation provider has focused on gaining more product in the Caribbean, Far East, Australia, USA and Middle East.
lowcostholidays.com, one of the top UK travel holiday websites, is taking on the entertaining new world of the student travel market this summer with new budget ventures to beach party destinations and the ever-popular city break.
easyJet, the UK’s largest airline, has today signalled the end of traditional week-long and fortnight holidays with the launch of easyJet Holidays. The collaboration between easyJet and the Lowcosttravelgroup, one of the leading on line travel companies in the UK, and offers consumers competitively priced, flexible and convenient holidays across the airline’s extensive network.
Now that the January round-ups are over and we settle down in to the year ahead, what does 2011 really hold in store for holidaymakers and the travel industry this year?
easyJet could launch its new low-cost tour operation outside the UK in a bid to save millions in VAT. easyJet Holidays – a joint venture between easyJet and Lowcost Travel – is expected to be registered in Switzerland in a bid to sidestep VAT under the Tour Operator’s Margin Scheme.
With snow becoming a permanent fixture in the British winter, Britons are flocking to sunnier climes to escape the seasonal chill. It seems that the threat of snow is enough to make people dig a little deeper and escape to typically long-haul summer locations.
Despite a turbulent year of economic uncertainty, the liquidation of some high profile travel industry companies, increases in airline taxes, further job losses and government cuts, Britons are increasingly booking winter sun holidays year-on-year to escape the harsh British weather.
Intuitive, one of the UK’s leading tour operating software and systems specialists, has announced it is working with Rackspace Hosting (NYSE:RAX) to help it support and manage soaring peaks in consumer demand on the popular UK holiday booking website, Lowcostholidays.com.
Foviance, the experts in multi-channel customer experience, were appointed in October 2009 by lowcostholidays.com to evaluate the user experience of their website, ensuring their position as key differentiators in the Travel industry.
Large investments in new technology have helped the Lowcosttravel Group post a rise 48 percent rise in annual pre-tax profits, along with an upbeat outlook for the year ahead.The value of total transactions in the financial year ending October 2008 rose by 44% to £50 million with gross profit margins maintained at 13%.
The Lowcost Travel Group‘s acquisition spree has come to a temporary halt after its take-over talks with online cruise travel agent Ideal Cruising broke down over valuation differences. However the group hinted that it will continue eying up other businesses across the travel setor.Lowcostbeds.com chief executive Paul Evans said he still believed Ideal Cruising was a sound business with an excellent management team but feared that the current climate dictated a lower valuation.