International corporate travel group reveals promising figures for 2010.
In another sign of the evolving turnaround in business travel in 2010, the international corporate travel services organisation Hogg Robinson Group has reported promising half-year results for the period ending 30 September. Clients are spending 22% more on business travel at the UK-based company, as revenues rose by 9% to £169.2 million (€ 202 million) “with growth across all travel regions”.
In the 12 months to 30 September 2010, the group’s net debt fell by the equivalent of €12.2 million to €102 million. The company managed to retain 90% of its clients during the period. Hogg Robinson Group says that its customers are increasingly asking for online booking capabilities, pushing it to improve its range of user-friendly technology.
As for events this year that were disruptive to the travel industry, the group reports that the volcanic ash cloud in the spring actually drummed up business as the company managed repatriations and other contingency plans. This offset the travel disruption that the cloud initially caused. “Uncertainty about the global economy will continue, but we are encouraged by the current signs of recovery in corporate travel,” Hogg Robinson Group CEO David Radcliffe commented.
Travel Trade Recruitment [photo: Lufthansa Business Lounge, Munich]