Classic Collection is in “double digit growth” on forward bookings and the industry has “loads to be positive about in 2024”, according to the operator’s chief executive Andy Freeth.
Speaking to 100 delegates at Classic Collection’s third annual conference in Crete, Freeth praised the performance of travel agents in 2023, saying the trade has “reacted well” to global challenges including wildfires in Greece and the earthquake in Morocco, and he is “hugely positive” for the year ahead.
He said the luxury market is “isolated” from external financial barriers, such as the ongoing cost-of-living crisis and rising inflation, and while “news outlets report doom and gloom”, it only prompts people to travel.
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“For us at Classic, we are in a much stronger position for 2024 than we were this time last year for 2023,” he said.
“We are currently in double digit growth on forward bookings for 2024 compared to the same position this time last year.
“That tells us two things: there is still a huge confidence in our brand, and the trend of booking early is strong and, even in the luxury space, people are trying to plan and budget further ahead than they used to.
“We sit in the premium space which means we are isolated from the impact of inflation and rising costs. Our average booking value is not showing any signs of going down, in fact it’s increasing.
“When there is doom and gloom everywhere in the news, everyone wants to get away.”
He added: “We have loads to be positive about in 2024.”
Shaun Morton, chief executive of Classic Collection’s parent company On The Beach, echoed Freeth’s thoughts, and said he anticipates 2024 will be a bigger sales year than 2023.
“All the data we look at says this summer was very good for the majority of agents and much bigger than last year,” he said.
“And market insight shows us that agents and operators are even further ahead for next summer than they were this year.
“We are seeing a lot of positive signs for the travel industry for 2024.”