But it was some four years ago, in May 2020, that Monk first met John and Irene Hays, shortly after travel came to a shuddering halt during the early stages of the Covid pandemic.
"We took a liking to each other straight away,” Monk recalls. “I just got some advice from them back then.”
At that stage, Monk had dreamt up but not yet launched My Kind of Cruise; he was keen to speak to Hays and chief operating officer Jonathon Woodall-Johnston about his plans for a cruise booking app – in essence, an app-led cruise agency.
Fast forward to today and My Kind of Cruise currently has 303,000 users across its mobile app, tablet and web platforms, with repeat bookings averaging 46%. Nearly 60% of bookings are from customers new to cruising.
The company offers 20 ocean cruise lines, including Ambassador Cruise Line, Holland America Line, Fred Olsen Cruise Lines and Royal Caribbean International.
“We’re obviously really strong in the new-to-cruise market,” says Monk. “A lot of cruise lines want that new-to-cruise market. So, you can look at it in two ways – we’re servicing more than half of the new cruise market, while still fulfilling the existing cruise market’s needs.”
In February 2024, Monk told TTG he was seeking further investment from outside the company. Discussions with Hays began shortly after, and the conversations were soon happening on an almost daily basis.
In between Monk’s first meeting with the Hays in May 2020 and the investment discussions of this year, he was shortlisted for the John Hays Entrepreneur of the Year Award at the 2022 Travel Industry Awards by TTG.
‘Attitude, aptitude, credibility’
Confirming Hays Travel’s investment on Wednesday (10 July), chair Dame Irene revealed she and her late husband John had been “so impressed” by Monk and his “innovative approach” following their first – virtual – meeting four years earlier.
Speaking to TTG on Thursday (11 July), she said: "Over the years, as a result of starting the Hays Travel Independence Group, it’s always incredibly interesting to listen to people talk about their business ideas even if the business turns out somewhat different to what they had in mind.
"When we decide to invest in companies, it is much about their attitude and aptitude and the credibility of the individual leading them. I really like Sefton’s approach.
"After we met Sefton for the first time, John focused on the numbers and I focused on the individual, but we both thought that he was impressive."
Asked why he had decided to seek external investment, Monk says: “We wanted to scale up and expand the business. We thought there was no better partner to do that with than Hays Travel – the biggest independent agency in the UK.”
Dame Irene adds: "At the end of day, when you invest in a company, you’re never 100% sure. It’s about the complete package of what makes a good entrepreneur. It’s that tenacity."
‘Great mentors’
Monk name checks two Hays directors, Woodall-Johnston and Hays’ finance director Ken Campling, for their “ridiculous” experience – both of whom will join the My Kind of Cruise board. Woodall-Johnston has just celebrated 20 years at Hays Travel after starting as an apprentice.
“They will be great mentors for the company,” Monk insists. “This investment puts us in a good place to scale up. We want to do that effectively.”
Monk maintains the business’s plans have not changed despite securing its first external investor with the help of White Hart Associates’ Salman Rasool and Elliot Photi, who led the investment discussions.
“By the end of the year, we want to launch in the US and start selling river cruise destinations,” says Monk. “There are different ways to expand our company, but Hays’ investment was the best way – you only have to look at their experience investing in other travel companies
“They’ve done it in so many ways. We’re such a young company – we only launched in 2022.”
