Brits take 5* holidays as On The Beach bounces back from Covid in second-half of 2022
Travel retailer On The Beach reported its sales were up from pre-pandemic levels despite external shocks such as the war in Ukraine and economic turmoil.
The medium and short haul specialists said its second-half sales were 25 per cent up on 2019 and 16 per cent up on the year as a whole.
It also had an 83 per cent increase in 5* holiday sales compared to 2019 as thousands booked holidays post-pandemic.
On The Beach said its comparative sales were however impacted by Omicron late last year, and ongoing disruption to supply chains due to the war in Ukraine.
The company also wanted that due to the cost of living crisis, the market value for its holidays remained “subdued” in the second half of the year, with sales of 3* holidays 18 per cent below 2019.
Commenting on their results after another “disrupted and unpredictable year”, Simon Cooper, chief executive of On the Beach Group said “whilst Omicron significantly impacted Q1 and into Q2, the second half delivered a 25 per cent sales improvement on H2FY19.”
“Despite the tougher trading conditions at the end of the year, the strength of the Group’s balance sheet ensures we are well placed to deliver further strategic progress in FY23, and the Board will continue to appraise opportunities for growth.”