For those who may not know, The Travel Corporation (TTC) has a portfolio of 40 travel brands. They just recently announced a US$300 Million “Peace of Mind Promise” to their travel advisor community and their clients.
This century-old family-owned and run business is putting their money back into the community to help support and spur growth in the sluggish travel industry.
The Travel Corporation will also be implementing a refundable $99 deposit, which allows guests to secure the trip they want, risk-free. Combine this with their amended flexible booking terms, travellers are allowed to make free changes up and until 30 days prior to travel, allowing them to book with complete confidence and ensure a seamless payment experience.
If for any reason clients change their minds, they can choose new dates and/or a new destination without penalty on the land portion of their trips.
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We had a chance to speak to Nicholas Lim, Managing Director for The Travel Corporation, Asia, about their plans and his view on the travel industry.
Could you share a bit more about the Peace of Mind Promise initiative you are rolling out?
Our “Peace of Mind Promise” gives the reassurance to our travel agent partners and customers regarding our company’s current financial strength and integrity. As a privately-owned company, The Travel Corporation has unencumbered fixed assets in excess of US$300,000,000 as of December 31st, 2019.
We are sharing this tangible financial information to give our clients the comfort in knowing that the organization is financially secure and highly solvent.
What impact do you believe this will have on the overall travel community in Asia and the rest of the world?
Clearly, things have changed and we are in a very different world. The uncertainty of a global pandemic will push people to seek confidence and operational expertise in their choice of companies that they eventually buy from. Travellers will expect more from travel companies regarding health and safety measures, and there will also be a rise of engaged citizens who want to further protect our environment and travel responsibly.
There will be a deeper appreciation for travel and there will be more people seeking meaningful travel. For travel businesses, it is a chance to transform how we operate, to ensure we are sustainable across all levels and not one that competes on price alone, but on quality, service and unique experiences.
Do you foresee the industry bouncing back by 2021 or do you believe we have a long wait in front of us?
Travel will rebound but we are yet unsure how fast the industry can recover with so much uncertainty. One thing for certain, we are in a better place as compared to four months ago, but there’s still no silver bullet out there. Until a vaccine is found and distributed to the wider community, recovery will be slow as governments gradually relax travel restrictions.
For now, travel bubbles between countries will start to form and businesses will need to be nimble enough to pivot and capitalise on such on-going developments to survive.
What message would you share with the industry as we continue to go through this recession?
At this stage, you’ll need to look after your personal well-being, both physically and mentally. Only then will you be able to look after your business. While the travel industry is greatly impacted as leisure holidays are on a long pause, looking at the long term and reimagining your business could prepare you for the future.
So being acutely aware of the changing trends of the consumer and being fast to adapt is essential. Trying to find innovative ways to address customers needs will also be useful when things turn for the better.
What is next for The Travel Corporation?
Acknowledging this new world with its realities is what we have done – to start. What’s important from now on is to prepare for the future by keeping a pulse on a very fluid situation. For example, we have changed our booking policies to ensure our guests have greater flexibility, allowing those who are still uncertain on when they can travel to change their travel dates up to 30 days before the trip commences.
We have also introduced a Private Group Option for smaller and more intimate group travel, and are also offering tailor-make trips that offer enhanced personalization and specific experiences where we take care of all the details. Our travel brands, Trafalgar, Insight Vacations and Luxury Gold are the first travel brands to introduce a Wellbeing Director on our trips. A Wellbeing Director is an additional crew member onboard our trips who focuses on social distancing and hygiene measures that are in place to keep our guests safe. They support our Travel Directors and Drivers in ensuring our guests have a safe and memorable holiday.
Note: More details about the US$300 million “Peace of Mind Promise” can be found here www.ttc.com/comfort.
We are on the lookout for insight from the leading travel experts from around the world to give our readers a better understanding of what the world will look like post COVID-19.
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