On the Beach Group is concentrating on competitive pricing and volume growth to capture market share as it forecast summer business being “significantly ahead” of a record 2023.
In a trading update, the OTA revealed growth in peak period total transaction value (TTV) of 27% year-on-year.
The company said prior to its annual general meeting to be held later today: “Following its best ever summer, the group began FY24 [full year 2024] with a record forward order book and significant momentum.
“This has continued into the peak booking period with FY24 TTV 27% ahead of the equivalent period in FY23.”
The group added that it has “taken the opportunity to price competitively and focus on volume growth to capture share in a growing market, and remains confident in delivering FY24 profit in line with current market expectations” – estimated at £30 million.
On the Beach is continuing to invest in its proposition, brand and platform to differentiate its offer, powering year-on-year growth across core and expansion areas, the company added.
Growth in long-haul is helping to deliver growth in the B2C arena.
Group chief executive Shaun Morton said: “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.
“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.”
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