Tma 01 Essay

1067 words - 5 pages

2.2 The TMA Part I of TMA 01 is based on the following case study.
Original Travel Original Travel is all about travel ideas – and as you can guess from its name, the company likes to create inspiring, hand-crafted trips for discerning clients. A young and energetic company, Original Travel was created in 2003 in response to changing expectations in travel early in the millennium. Its founders - Alastair Poulain, Nick Newbury and Tom Barber, all of whom are still with Original Travel - wanted to help adventurous travellers to find new travel experiences with greater levels of service and cooler places to stay. Their starting point was the ‘Big Short Break’ – interesting places to visit and ...view middle of the document...

"We offer breaks that cost just £220 a person for a weekend learning to surf in Portugal but we have also had people spending £70,000 on a trip,'' said Newbury. The firm has a loyal customer base with repeat business and referrals accounting for 70% of its £4.4m income and 75% annual compound growth. But its success in servicing this select sector has left Newbury with a dilemma. Original Travel is looking to expand its small corporate travel section. It has also just acquired the 15-year-old South Kensington-based Tim Best Travel to offer much longer holidays to complement Original Travel's long weekend breaks. That firm also has a loyal customer base and marketing the two side by side is a potential challenge for Newbury. The acquisition will bring turnover to £8m. In 2011 it also acquired cultural tour operator Simoon Travel, which specialises in tours to destinations such as Iran, Uzbekistan and Algeria. Each acquisition requires a careful integration of different sales teams and marketing strategies. Creating the right culture becomes crucial in a fast-growing company and failing to manage any merger carries lots of risks. It was while working in corporate finance that Newbury realised there was a gap in the travel market. "I worked with people who were all very keen travellers but the nature of the job - the long hours and last-minute changes of plan - forced them into only taking short breaks,'' he said. "Even then it was a typical city break to Rome or Paris or maybe a ski weekend and they had to piece everything together themselves.'' What these bonus-fuelled, time-limited travellers wanted, thought Newbury, was a company that did the leg work for them offering bespoke off-beat holidays. "There were a lot of holiday companies offering tailor-made travel for one or two weeks but none offering short breaks.'' The potential profit - the firm is still breaking even - will come from the gap it pays the hotels, airlines and activity providers - and the price individual travellers would have to pay. "The client pays the same price as if they arranged it themselves, we are adding the knowledge and experience.'' These are short...

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