📋 Tender Overview
Mr. Madhavan Menon Managing Director Thomas Cook India Limited said Our second consecutive strong quarterly results are an outcome of the Groups sustained recovery efforts cost management - resulting in a cost saving of 24 Vs pre-pandemic levels. Our focus on customer-centric technology to drive efficiency scale and productivity is helping drive the rapid pace of recovery across lines of business as well as geographies. The robust demand we are witnessing for travel across segments gives us the confidence of a profitable FY 23Key Business HighlightsForeign ExchangeNew card issuance in Q2 FY23 was up by 44 QoQ growth of 29 over pre pandemicCard Loads of US173 Mn for Q2 FY23 grew by 12 QoQ surpassed pre-pandemic levels. Transactions grew by 26 QoQ recovery of 62 Vs pre pandemicOver 63 of the Card users below the age of 40Retail recovery at over 95 of pre-pandemic levelsThe digital partner platform FX Mate saw 24 growth in transactions 17 growth in turnoverThe overseas education segment saw a growth of 60 QoQTravel ServicesCorporate TravelCorporate Travel turnover grew by 280 YoY 15 on a QoQ basis a notable 120 growth Vs pre-pandemic levels of Q2 FY20Acquisition of over 10 new accounts including 5 large institutional accounts across Banking Media Entertainment Telecommunications Automobile Tyre manufacturing etc.Over 70 adoption by clients on the corporate self-booking toolMeetings-Incentives-Conferences-Exhibitions MICEOver 200 corporate groups of 100 to 3000 delegates were successfully operated across India international destinationsStrong resurgence in demand for domestic and outbound corporate groups robust forward pipelineLeisure TravelMarked improvement in sequential recovery Vs pre-pandemic levels to 47 from 22 in Q1 FY23Over 8600 passengers travelled during Q2 FY23. Operated approx. 300 groupsWith over 6800 booked customers since restart - the highest sellers of Cordelia CruisesDestination Management Services NetworkTravel Corporation India Limited Revival witnessed this quarter with the majority of accounts having restarted the rest by 2023. A charter segment to revive this season. Impact due to non-availability of e-visas for the UK is levelling with full revival expected by next year New groups Successfully managed the Thuringian Delegation from Germany to India in SeptemberDesert Adventures Q2 FY23 being the summer season higher temperatures expectedly witnessed lower volumes vs the previous quarter. While CIS countries continued to provide good volumes pickup in the FIT individual traveller segment was witnessed from India. MICE has shown healthy volumes during the quarterPrivate Safaris East Africa Robust sales in Q2 FY23 with the return of peak season. Healthy volumes were generated from markets such as the USA the UK and Germany. Decent volumes were also seen from France Romania and IndiaAllied TPro USA Sales in Q2 FY23 surpassed pre-pandemic levels the USA witnessed a strong quarter primarily driven by the European market. Entered into a 5050 joint venture agreement with New World Travel Inc. on October 31 2022. The new JV company Allied New World has been set up to leverage the strengths of both companies to drive productivity and accelerate growth in the post-pandemic eraAsian Trails Asia Pacific Gradual increase in sales witnessed due to the re-opening of major destinations e.g. Thailand Cambodia Singapore Indonesia and Vietnam. A full-scale launch of a B2B online platform for multiple service types Hotels Transfers Excursions Flights and Tours for global customers travelling to South East Asia is planned for Q3 FY23Sterling Holidays Resorts54 increase in ARR Vs. pre-pandemic 23 increase YoYOccupancy at 53 has surpassed pre-pandemic levels stood at 46 for Q2 FY22Sterling received Tamil Nadu Tourism Award Best Leisure hotel Asias Excellence Awards 2022 at CMO Asia Awards Best of Bharat Award from e4MediaDigiphoto Entertainment Imaging DEIDEI inked 4 new agreements with Trans Snow World Surabaya in Indonesia Snow Kingdom Hyderabad in India Southern Christmas Show in the USA and Adventure Park in the UAEDEI renewed its association with 5 partners including Mandai Wildlife Reserve in Singapore Outrigger Beach Resort and JW Marriott Resort in Mauritius Mvenpick Resort Kuredhivaru in the Maldives and Wild Wadi Waterpark in the UAE5 of DEIs partnerships went operationally LIVE this quarter Adventure Park and Modesh World in the UAE Club Med Cherating in Malaysia and Alila Kothaifaru and Le Mridien in the MaldivesTechnologyThe Groups Digital First strategy saw sustained momentum with the launch ofAn innovative Live Video Connect platform via the Companies campaigns - customers can seamlessly connect with holiday experts via a video call and chat without having to download any added apps or softwareCruise holiday products are available on the website with options to select preferred travel dates and cabin types and offers to book seamlessly on a real-time availability basisIndia Network ExpansionNew franchise outlets were opened in key source markets across metros and Tier 2-3 citiesLeisure Travel Faridabad Ludhiana Bengaluru Hyderabad and AnandForeign Exchange Franchise outlet opened in Agra Cochin International Airport agreement extended for 5 yearsAwards PartnershipsThomas Cook India SOTC signed an agreement with Turkiye Tourism to boost demand and visitations for the destinationThomas Cook India SOTC extended their exclusive Partnership with Vistara to launch Vistara Getaways InternationalThomas Cook India Mastercard HDFC Bank collaborated for offers on S. E. Asia Holidays
