Former Classic Collection owner voices sadness over winding down of operator

The former owner and managing director of Classic Collection has expressed his “disappointment” at the closure of the trade-facing brand by OTA On the Beach.

 

Nick Munday has stayed out of the travel industry since he retired, but said he was compelled to speak out after the wind down of the operator was disclosed on Wednesday.

 

His intervention came within hours of On the Beach declaring that it had taken the “strategic decision to commence an orderly wind down of the B2B segment trading as Classic Collection. which made a small loss in the year, to focus on the higher growth potential of the B2C business”.

 

Munday responded to the “sad news” amid the fallout from the closure decision, which will see the loss of 26 jobs at the company. 

  

He led the sale of the former Classic Collection Holidays to On the Beach for £20 million in 2018. The operator had reported profits [ebitda] of £2.6 million and assets of £18 million for the year to October 2017.

 

At the time of the deal, On the Beach pledged to invest to grow Classic Collection’s portfolio of luxury holidays.

 

Speaking in response to the closure, Munday said: “I was disappointed to read that Classic Collection Holidays has ceased trading after 37 years. 

 

“It’s very sad for the hundreds of people who worked tirelessly and skilfully to make it the multi-award-winning luxury brand it became. 

 

“Many travel agents and hotel partners who supported Classic Collection Holidays will also be sorry to hear today’s news.”

 

He added: “Having retired from the industry several years ago, I no longer have any connection with On the Beach, so cannot comment on their decision. 

 

"But I would like to take the opportunity to thank all my former colleagues, as well as the travel partners who supported us, for their passion and the commitment they brought to the business.”