Monday, September 16, 2024

Luxury holiday giant plots stock market listing in bid to become ‘LVMH of travel’

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Holidays typically run into the thousands of pounds and can reach into the tens of thousands. Island hopping in the Caribbean costs more than £8,000 for 12 nights, while a seven night trip to the South Pole to see emperor penguins can cost upwards of £85,000 per person.

Abercrombie & Kent Travel Group comprises its namesake tour agency, the cruise operator Crystal, the agency Cox & Kings, and Sanctuary Retreats, which runs lodges and boat tours in Africa.

The decision to list the company comes on the back of strong demand for luxury travel since the pandemic, despite turbulent economic conditions and geopolitical unrest.

“At the moment, demand is very strong with obviously some exceptions with the situation in the Middle East,” Ms Levis said.

She added: “Our niche has always been very, very resilient – in the toughest moment in history, we have seen a continuous increase in demand.”

The group’s latest available accounts, for 2022, show revenues of $528m (£402m) as sales rebounded in the wake of the pandemic. The group made a pre-tax profit of $22m for the year.

Trips to Japan, Scandinavian countries and South America are proving particularly popular, Ms Levis said. 

She said: “I would not have expected the Nordics to become so popular. I love Scandinavia, but this year the demand for the Nordics have increased really dramatically. 

“It’s impossible to find space in Japan – now we are moving clients to see cherry blossoms in South Korea, because we don’t have space anymore in Japan.”

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