Travel
Certares-led consortium enters into an investment agreement with the FTI Group
FTI GROUP partners with Certares-led Consortium to secure €125 million for growth and digital transformation, positioning itself for enhanced profitability in the European tourism sector.
The FTI GROUP, the third largest tour operator in Europe, announces that an agreement has been reached which concludes the process to strengthen the capital and restructure the shareholder base of the Company originally launched in September 2023.
A consortium led by Certares, an investment firm specialized in the travel and tourism sector, with capital provided by co-investors (the “Consortium”), has signed an agreement on the proposed acquisition and funding and will assume control.
Under the terms of the Agreement, FTI will receive new capital of € 125 million to support its next phase of growth and fund digital transformation. The current shareholder has accepted to provide financial support and further investment. The transaction is subject to customary regulatory approvals and other condition precedents as are typical for transactions of this type.
Karl Markgraf, CEO of the FTI GROUP, stated: “We are delighted to announce our partnership with the Certares-led Consortium. Certares is a leading investor in the global travel and tourism sector. With support from Certares and its extensive experience in the sector and capital provided by the Consortium, FTI is uniquely positioned for future growth and profitability which benefits all the stakeholders, including our customers, commercial partners and employees. We are committed to start our next chapter of success and to further consolidate our position as a leading player in the German and European tourism sector.”
Who is who
Established in 2012, Certares is a global investment firm focused exclusively on the travel and hospitality industries, leveraging deep sector experience, proprietary transactions and hands-on partnership with management teams to drive growth. With approximately $ 10.1 billion of assets under management, including co-investments, as of 31 December 2023, Certares brings together a team with decades of both operational and investment experience in private equity, travel, tourism, hospitality and travel-related business and consumer services.
With its numerous brands and subsidiaries, the FTI GROUP is the third largest tour operator in Europe. It includes FTI Touristik as well as the short-term tour operator 5vorFlug, the car rental broker Drive FTI, the destination management company Meeting Point International, which is active in over 40 locations worldwide, and the tour operator for promotional goods BigXtra.
Under the umbrella of the hospitality company MP Hotels, the company bundles its hotel brands Labranda Hotels & Resorts and Design Plus Hotels, Kairaba Hotels & Resorts, Lemon & Soul Hotels, Club Sei and Managed by MP Hotels. TVG Touristik Vertriebsgesellschaft mbH combines the franchise systems with the brands sonnenklar.TV Reisebüro, 5vorFlug and Flugbörse. Around 10,000 partner agencies sell FTI products throughout Germany.
The TV travel shopping channel sonnenklar.TV, an FTI GROUP partner, and the online B2B provider for accommodation Youtravel are also important sales channels. The consolidator FTI Ticketshop is responsible for the sale of scheduled flight tickets. In Austria, FTI Touristik is represented by a branch in Linz.
The subsidiary FTI Touristik AG, based in Basel, represents the tour operator in Switzerland. The French tour operator FTI Voyages has been part of the FTI GROUP since 2012. With FTI Reizen, the group has also been active in the Netherlands since 2016. The seven service centres handle numerous bookings for the FTI GROUP and external customers. Headquartered in Munich, the Group employs over 11,000 people worldwide and generated consolidated sales of around € 4.1 billion in the 2022/23 financial year.
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Travel
AMG survey reveals consensus on importance of training but not on how to develop new advisor talent
Results highlight need for comprehensive advisor curriculum such as KORE.
OYSTER BAY, NY – While a near-unanimous majority of travel advisors affiliated with American Marketing Group networks agree training new consultants is important, the current mix of approaches to do so may not empower recruits with the most critical skills.
To alleviate the current advisor shortage, agencies are prioritizing the recruitment and onboarding of new consultants. A recent survey of Travelsavers and Nest advisors sheds light on the qualities agencies are looking for in recruits and how they train them.
Varied Training
An overwhelming number of advisors – 95 percent – say that training is essential or important for new entrants to the profession. However, agencies rely on diverse methods of developing their new consultants. Fifty-four percent offer a job shadow with colleagues and 53 percent use supplier training programs. Almost one-third employ industry webinars.
Programs that provide training in a range of crucial advisor skills are less common. Twenty-six percent say their agency offers a specialized program for new advisors. Twenty-three percent use an industry program such as The Travel Institute. Fifteen percent depend on KORE, American Marketing Group’s comprehensive advisor education curriculum.
“The industry has had a patchwork approach to training new advisors,” said AMG Chief Sales Officer Kathryn Mazza-Burney. “Many agencies are still using one-off webinars or very focused supplier programs. This is exactly why we invested in creating KORE. We wanted to attract new talent to the profession and provide them with the strong foundation that travel advisors need to succeed in today’s marketplace.”
Critical Skills
When asked about the most important elements advisor training should cover, 43 percent named booking travel. Forty-two percent said advisors should have a grounding in different supplier types such as air, hotels and cruise lines. Forty-one percent opted for customer service and one-third selected sales training.
Knowledge in demand for today’s advisors finished further down in the survey, including technology (27 percent), compliance and fraud protection (12 percent) and marketing (5 percent).
Advisor Traits
Training that covers a range of skills is essential, especially given that many agencies are looking for potential among prospects rather than advisor experience. Forty-four percent are seeking candidates with a travel industry background and 33 percent are looking for people with client service experience.
Other desirable qualities include a passion for travel (30 percent), detail orientation (29 percent) and communication skills (26 percent).
Career Benefits
Once recruits are on board, they will enjoy multiple benefits in their new profession. The survey found 52 percent of respondents treasure the flexibility to work as much as they like from wherever they like. Forty-one percent delight in making people’s travel dreams come true. One-third appreciate the choice of niches to fit their passions and interests. Thirty-one percent love travel discounts and perks.
“Travel advising is a wonderful career with so many advantages,” said Mazza-Burney. “We need fresh ways to get out the word, recruit promising new talent, and provide wide-ranging training that empowers them to be successful in their new field. We need to innovate now on all these fronts to ensure a healthy future for the travel advisor profession.”
Survey results are as follows:
Importance of training for new advisors
- 83% essential
- 12% important but not mandatory
- 1% may or may not help
- 1% not important
How agencies train new advisors
- 54% job shadow with colleagues
- 53% supplier programs
- 31% industry webinars
- 26% agency program
- 23% industry program
- 15% KORE
Most important training elements
- 43% booking travel
- 42% supplier types
- 41% customer service
- 34% sales
- 27% technology
Top traits for new advisors
- 44% travel industry experience
- 33% client service experience
- 30% personal passion for travel
- 29% detail orientation
- 26% communication skills
Top career benefits
- 52% flexibility to work as much as you like from wherever you like
- 41% help make people’s dreams come true
- 33% specializations to fit your passions and interests
- 31% travel discounts and perks
- 27% own your own business/be your own boss
Advisors from Travelsavers, Nest and Affluent Traveler Collection affiliate agencies in the US and Canada took the survey from March 21 to April 14, 2024.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor’s degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
Travel
FCM: ‘Steady’ Q1 Booking Volume Amid Strong Pricing
Business travel demand has had “gradual, consistent growth” in the first quarter as pricing remains elevated across several categories, according to FCM Consulting’s Global Quarterly Trend Report, released Thursday.
The report, based on FCM’s corporate booking data in the first quarter, showed global economy airfares in January were up $45, or 11 percent, compared with pre-pandemic levels in January 2019, and business class tickets were up $224, or 12 percent, over the same period. In North America, that increase was 15 percent for economy fares and 9 percent from business class fares.
Even as fares remain comparatively high, there are signs of moderation. Compared with January 2021, for example, global economy ticket prices were down 16 percent, according to FCM.
Year-over-year comparisons for airfares were not provided in the report.
In lodging, rate performance was mixed across global regions in the first quarter, FCM reported. The $244 average room rate in North America for the quarter was the highest of global regions reported, and the rate was up $5 year over year. Rates in Latin America increased $12 year over year to $140 during the quarter, and rates in Asia were up $2 to $174.
Rates in the rest of the regions were down year over year in the quarter, including a $17 drop to $197 in the Middle East and Africa, a $10 drop to $169 in Europe and a $9 drop to $154 in Australia and New Zealand.
Car rental rates on a global level, meanwhile, were down $22 year over year to an average daily rate of $51. Suppliers are cutting rates to stimulate demand, according to FCM.
The report noted booking volume in the first volume was “steady,” and “we’re looking forward to seeing the business travel momentum carry through into the rest of the year,” Ashley Gutermuth, Head of FCM Consulting for the Americas, said in a statement. “Given the increased demand and positive economic outlook, it’s been an encouraging sign to see companies start to increase their corporate travel budgets and further embrace the return to the air.”
FCM highlighted slight changes in traveler behavior over the past year in the report. Advanced booking has increased by 1.5 days year over year to 23.3 days in the first quarter. Average rip length also has increased by 0.3 days to 4.4 days, according to the report.
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