Hays Travel has boosted profitability following a multimillion-pound investment this year in its retail network, technology and bonuses for staff.
Chief operating officer Jonathon Woodall-Johnston told the Hays Travel retail conference in Portugal that the company has refurbished 35 shops, costing £2.6 million, and relocated 17 shops, investing a total of £1 million over the past 12 months.
The independent agency chain has also seen “organic growth” with six new shops opened since January 2023: Downpatrick, Banbridge, Armagh, King’s Lynn, Bromley and Sutton.
Three more will open by the end of 2023: Leeds Briggate, Gainsborough and Newbury.
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The new openings had cost just over £1 million.
He said the investments had paid dividends, pointing to examples such as Leeds White Rose, where profits doubled after the branch relocated.
Commenting on the increased profitability, he told retail managers at conference in Vilamoura: “It’s more than the paint, it’s you and your teams.”
Furthermore, Hays acquired Just Go Travel in September, adding an additional 45 retail shops to the network.
Overall, the chain has 460 shops and Woodall-Johnston said he aims to revamp or relocate 375 stores over the next three years.
He also said more millions would be invested in technology over the next two years, following the success of recent investments in technical innovations.
These include a customer text service and the launch of messaging via WhatsApp in October.
There are already 9,000 customers signed up to the WhatsApp service and 171,000 messages have been sent.
“It has given us an opportunity to engage with new and existing audiences. We have seen tremendous sales from WhatsApp,” he told delegates.
“It gives us speed to market and we can send offers really quickly.”
Furthermore, Woodall-Johnston outlined highlighted how investment in a revamped bonus scheme was also increasing profitability and proving to be a “competitive advantage, as more talent comes to our business”.
More: Hays Travel remains upbeat for 2024 after tripling its profit
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