Summary

COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. The travel & tourism sector is suffering significant disruption and intermediaries are very much affected.


Key Highlights

  • The on-going crisis continues to wreak havoc on company financials as all operators have experienced a dramatic slump in Q1 results.
  • Expedia Group was the latest to announce - revenue declined 15% and gross bookings were down by 39% in comparison to Q1 2019. Net loss attributed to the group also climbed considerably from US$103m in Q1 2019 to US$1.3bn in Q2 2020.
  • Booking Holdings reported total revenue decreased by -19.3% reaching US$2.3bn in comparison to 2019 and a net loss of US$699m. TUI Group saw a net loss of US$802mill[3] and lm holdings’ (previously lastminute.com) net financial position decreased substantially by 63%.
  • TripAdvisor recorded one of the most severe declines in Q1 2020 – revenue dropped by 26% to US$278m from $376m.
  • The majority of travel players have now secured financial investment as a means to stay afloat during this unprecedented crisis.




Scope

  • This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that intermediaries can take to mitigate the impact of COVID-19.




Reasons To Buy

  • Gain an overview of the current global COVID-19 situation
  • Understand the impact that COVID-19 is having on the industry
  • Explore future industry scenarios
  • Assess possible mitigating actions
  • Compare key industry players’ actions