The Financial Crises and the Independent Travel Industry
We have been operating our company for 5 seasons; we have no debt; we achieve over 90% occupancy every season and we have been profitable from the outset.Ò We have low administration costs because we transact all of our business online, we have relatively low overheads as we outsource all of our transfers, so I would argue that we are extremely well positioned to weather the financial crisis.I am not speaking on behalf of all independent travel companies because I am sure that there are many that are not run well.Ò My argument is that large badly run companies are as likely to fail as small ones.Ò We have seen this most recently with the collapse of Lehmans and therefore his advice is unjust.
It is difficult to work out just from talking to an independent company whether their finances are in order.Ò You could therefore argue that a public listed company is more transparent and at least you can make an informed decision... and I would agree.Ò Therefore I suggest that when your review independent companies that you check they accept credit cards; you ask how long they have been trading and if they are profitable. And if they should fail at least you will be protected by your credit card company.
If you are looking for an independent ski and snowboard company that meets the above criteria check out rudechaletsò„¢ and their morzine accommodation