Dame Irene Hays has suggested that the lates market could help agency owners cover rising costs as wage hikes draw near.
During the Hays Travel Independence Group (IG) conference in Leeds, the chair of Hays Travel highlighted that the national living wage is set to rise by nearly 10% next month when it goes up from £10.42 an hour to £11.44.
Hays said wages for more senior staff in travel businesses could also be expected to rise, leading to a “huge” overall impact, but she added that the lates market could play a crucial role in funding the cost hikes.
“There are huge numbers of people who want to book a holiday and have not booked yet,” she said.
The Hays IG conference aimed to support delegates as they form a strategy for the lates market.
“This is about helping you to improve your bottom line,” said Hays, adding: “We really do believe it’s going to be a fantastic year ahead.”