Tourism Industry News
Youtravel.com more than doubles UK turnover in second year
Independent accommodation specialist youtravel.com more than doubled its UK sales turnover in its second year, and is on track to make a significant profit in its third year.
In its second year, to October 2008, the company saw UK turnover soar from £32 million to £70 million and a substantial improvement in EBITDA following losses in its first year of operation when incurring start-up costs. Passenger numbers also doubled to 500,000 in year two.
Group managing director Graham Nichols said: “Youtravel.com reached break-even in only its second year of operation excluding some small one-off costs. This is an impressive feat for a start-up in this industry and particularly in the economic environment of the last 12 months.
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