The Vertical Travel Group is set to expand significantly by launching a cruise division by January, aiming to capitalise on the booming ocean cruise sector.
- This strategic move is a response to the consortium’s ambition to enhance its prosperity through collaboration with top cruise sellers.
- Currently, the cruise segment accounts for 17%-18% of the group’s turnover, but there’s potential to double this figure.
- Ocean cruising has shown promising growth prospects, although river cruising lags in recovery post-pandemic.
- A dedicated head office team will support the integration and development of this new cruise operation.
The Vertical Travel Group is poised to establish a new cruise division by January, marking a strategic expansion in its operations. The initiative is primarily driven by the significant growth observed in the ocean cruise sector. Peter Healey, a spokesperson for the group, highlighted the opportunities that lie ahead, particularly as the organisation plans to work closely with its top cruise sellers to ‘increase the prosperity of the group as a whole’.
Currently, cruises contribute approximately 17%-18% to the group’s total turnover. Despite this contribution being driven by a small number of individuals handling substantial bookings, the company sees an opportunity to double these figures through enhanced focus and resources. The aim is to delve deeper into the ocean cruise market, positioning it as a priority for the group’s growth strategy.
Healey notes that while ocean cruising is exhibiting strong growth potential, river cruising has not rebounded with the same intensity since the Covid-19 pandemic. The group acknowledges these differing trajectories and is prepared to concentrate efforts where the potential for expansion is more robust.
The establishment of the cruise division will be supported by a dedicated head office team, tasked with integrating and streamlining the process. Healey elaborated on the group’s considerable business dealings with MSC Cruises, attributed to a high number of UK departures, and recognised the broader industry trend of other cruise lines increasing their UK presence.
Investment and growth at the supplier end of the market present ample opportunities for the Vertical Travel Group to expand its cruise business. By leveraging these opportunities, the group is positioned to enhance its market share and business volume, underscoring its forward-thinking approach in a dynamic travel sector.
The Vertical Travel Group’s move into the cruise sector illustrates its forward-thinking strategy in capitalising on industry growth areas.
