On the Beach saw sales soar in the first half of the year, up 322 per cent from 2021, and six per cent compared to pre-pandemic figures.
The holiday booking site posted group revenue of £52.9m, up from £4.4m in half year results last year, which was bolstered by the widespread relaxation of restrictions for travel from the UK to most European holiday destinations in January 2022.
While revenue as agent of £39.7m was £5.3m lower than 2019 levels because of subdued consumer demand until restrictions were fully lifted, the group managed to reduce loss before tax by £14.6m to £7m.
Sales have remained resilient looking forward and are 33 per cent ahead of 2019 in the 8 weeks to 22 May 2022.
However, chief exec Simon Cooper warned: “Whilst we have entered the second half with resilient sales, visibility of the near term outlook for the UK outbound travel industry remains limited. Customers are typically booking holidays with shorter lead times and we believe we are yet to see the full impact of the escalating costs of living on bookings.”
Cooper is confident that the brand investment throughout the pandemic will limit any serious impact.
Revenue is stated net of £5.2m of brand investment relating to COVID tests, airport lounges and airport security fast track.
“Throughout the pandemic, we continued with our strategy of investing in our brand, technology and customer proposition. Our deliberate focus on capturing share in the Premium, Long Haul and B2B segments, including accessing previously unavailable premium hotel stock, has resulted in us taking market share in this area”, Cooper explained.