 |
Review of Operations
by Richard Atkinson
Chief Executive
|
|
Whilst there have
been and still are some concerns following the events of September
11th, particularly in our Adventure Division, we are confident
in our ability to make further progress in 2002 despite the
changed trading environment.
AN OUTSTANDING YEAR FOR HOTEL
BREAKS
The success of our Hotel Breaks
division whose operating profits grew by 25% to £5.5m
in 2001 is all the more noteworthy in the light of the difficulties
that so much of the UK domestic sector has experienced over
the past year. A key growth driver has been our internet booking
facility which has proved an outstanding success. The acquisition
of Rainbow Holidays in September 2000 also made a useful contribution
to our growth and enhanced market share in the core high street
travel agency channel.
The Hotel Breaks Division continues
to enjoy excellent prospects. Immediately after September
11th there were some cancellations and sales did fall away
a little, mainly for London and airport hotels. This effect
straddled the two financial years and reduced 2001 profits
by an estimated £30,000. Demand has now bounced back
strongly and initial signs for the newly launched European
programme are also encouraging.
|
