p22 pink nov7 4/11/08 17:52 Page 22
news city & finance
ttglive.com
Experts forecast casualties
Tricia Holly-Davis.
companies do not have the disposable capital
WORSENING economic conditions will spark a available to fund new mergers and acquisitions,”
spate of closures and consolidation among travel he said. This means that struggling high street
firms, leading industry experts have predicted. retailers, which last year would have been
Peter Long, chief executive of Tui Travel, told snapped up by a rival, are now more likely to
TTG: “Over the next 12 months we can expect claim insolvency.
further market consolidation and continuing Long: “Expect Wall predicted that “huge” price tags, such
attention to capacity across the industry. consolidation” as the £22 million Thomas Cook paid to
“For companies to be successful they need to buy
Hotels4U.com in February, are
ensure they are operating with strong likely to be rare in 2009, with even
financials, have flexible and diverse business large, well-capitalised firms taking a
models, listen to customer needs and deliver ex- wait-and-see approach.
cellent customer service.”
Jonathan Wall, of Elman Wall, an
Elman Wall’s tough times tips
accountancy firm specialising in travel, said com-
panies must act to counter declining consumer Elman Wall has drawn up a checklist to help
spending and a lack of credit. businesses identify ways to survive the
“Smaller and medium-sized high street busi- economic downturn. The list, called Tough
nesses need to run tighter ships,” he said, adding Times For Travel, offers practical tips, such as
that reduced liquidity in the market meant that making sure you have explicit payment terms
there were far fewer buyers available to take and that all customers pay within this
over businesses that are ready to sell up. timescale. View the list at
elmanwall.co.uk.
“Banks are restricting lines of credit and most
Taiwan…
Far East star full of surprises
A new dragon is awakening in the Far East and the British long haul traveller is already discovering it.
With UK visitors to Taiwan soaring by nearly 40% in the first quarter this year make sure you don’t
miss out on sales to this exciting destination.
As one of the most inspiring destinations for 2008, several high profile tour
operators have already added Taiwan to their brochures and online portfolios.
It should come as no surprise since Taiwan has much to offer to the long haul
tourist. It is blessed with stunning scenery, wonderful wildlife, delicious cuisine,
fantastic shopping and some of the friendliest people on earth.
It is an island full of unique and different surprises which will delight and enthral your
clients. Don’t miss out on the hottest new destination for 2008.
To find out more about this new Far Eastern star,
call 08453309921 or visit
www.taiwan.net.tw
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