Saga set to reveal plans to corner high-end holiday market

 
Oliver Gill
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Saga is to offer Apple exclusives to some of its most-prized customers

Travel and insurance firm Saga is set to reveal details of its plan to corner the high-end holiday market when announcing half-year results on Friday.

VIP service Saga Possibilities, which was first announced earlier this year, is an initiative to entice wealthier customers. Exclusive tours and a concierge service will be available to those willing to spend almost £2,000 on a holiday.

Due for roll-out in the second half of the year, the move is the latest push by Saga to shake-up its image of only servicing more elderly customers.

The loyalty scheme also includes a tie-up with tech giant Apple. Saga wants to encourage current members to hold their products for longer and buy new services.

Read more: Life in the old dog yet? Saga rejigs maturity of £550m debt pile

The FTSE 250 firm has guided that the City should expect profit before tax growth of around five per cent. This compares with the firm's bottom line swelling by almost 10 per cent when it announced its full-year results in March.

Hargreaves Lansdown equity analyst George Salmon said:

An optimist would say that Saga is one of a select few companies so dominant in its field that its name has slipped into everyday vernacular. While Google has to settle for being a verb, Saga is aiming to become a way of life for their customers. Unfortunately, this is where the pessimist’s view of the company differs. Maybe due to its over 50s profile, Saga has never commanded the aspirational image it might like.

"Nevertheless, with the baby-boomers hitting retirement, the number of potential customers fitting the affluent pensioner profile is increasing."

Read more: What a Saga! Dividends are up but shares are down