Hays Travel expands Sunday trading to 110 more branches, boosting profitability.
- 161 branches already operate on Sundays, generating extra income.
- Minimal overheads expected with only salary costs increasing.
- Focus on enhancing sales of forex and insurance products.
- New prepaid currency card to launch in 2025.
Hays Travel, a prominent player in the travel agency sector, is enhancing its operational strategy by offering Sunday trading at an additional 110 branches. This move, discussed during the agency’s annual retail conference, is aimed at capitalising on the advantages of extended trading hours. A total of 161 branches are already open on Sundays, enabling the company to tap into additional income streams. The decision underscores the agency’s commitment to innovative approaches for increasing profits with minimal expenditure.
The primary financial implication of this expansion is the cost associated with employee salaries, as highlighted by Paula Barrett, Head of Retail. According to Barrett, the company has embraced Sunday hours as a strategic opportunity to improve profit margins with limited financial outlay. This strategy aligns with the agency’s broader goals of sustaining growth and enhancing customer service.
A significant aspect of Hays Travel’s strategy involves bolstering sales of insurance products and ancillary services. The company aims for 1% of its sales to come from these areas. Additionally, Beccy Rayner, head of sales in the foreign exchange division, emphasized the importance of integrating foreign currency discussions into every customer booking process. This integration could significantly boost the forex segment, particularly through the ‘Buy Back Guarantee’ offer. Currently, over 400 forex consultants are available across the branches to support these efforts.
Despite these initiatives, Rayner identified a shortfall where approximately 110,000 customers obtain their foreign currency elsewhere, indicating a substantial opportunity for growth. The entire team is tasked with ensuring every booking includes a comprehensive forex discussion to capture this potential.
In 2025, Hays Travel plans to introduce ‘My Travel Card’, a prepaid currency card, through Miles Morgan Travel and Travel House. This development is part of a broader initiative to enhance customer service and streamline currency transactions.
Hays Travel’s operational expansion is a testament to its dedication to service improvement and revenue growth. With 500 branches currently in operation and plans for further openings, the company is poised for continued success in the competitive travel industry.
Hays Travel’s strategic initiatives reflect a forward-thinking approach to improving profitability through minimal financial investment.
