After reporting its best summer to date in 2023, On The Beach believes Summer ‘24 will be “significantly” better.
The Manchester group said it began this financial year with a record forward order book and “significant momentum” which has continued into the peak booking period.
“I am pleased to report that the momentum we experienced throughout last year has continued into this new financial year, with significant TTV growth across our core and expansion areas,” said Shaun Morton, Chief Executive of On the Beach Group plc. (TTV is the “total transaction value” of the holiday booking).
“We believe this is due to a combination of realising our investments across our proprietary platform, brand and customer proposition and consumers continuing to prioritise holidays, viewing it as non-discretionary expenditure.
“Winter ’23 TTV is currently 34% ahead of the prior year and current trends continue to give the Board confidence that Summer ’24 will be significantly ahead of Summer ’23.”
The Group stated that it had “taken the opportunity to price competitively” and was focusing on volume growth to capture market share. It added that it was confident in delivering FY24 profit in line with current market expectations and would be continuing to invest in its brand and platform “to differentiate its offer.”
In terms of figures, its total transaction value (TTV) of holidays is up 27% year on year, while long haul TTV is +86% against the equivalent period in FY23.