Advantage said it was aligning its operations to “maximise opportunities to collaborate on communications, events and buying power”. "We will retain our specialists within the business and leisure area," said the consortium.

"But this new strategy will see us taking a big step towards leveraging our total scale when it comes to buying products on behalf of our members. Members will have access to all content and will be able to select the partners that suit their business."

The move will not result in any redundancies.

The reshaping concentrates on four areas, including more support for members through consultancy, marketing and technology. Buying power will also be leveraged and there will be more digitalisation, plus a technology review and makeover of public and internal digital platforms.

Julia Lo Bue-Said, Advantage chief executive, said: “We’ve learned some hard lessons during the pandemic, and we’ve had to be honest with ourselves to identify areas in the business where we can fundamentally add more value to our members and support them through what will be a tough period of recovery. 

“This has resulted in streamlining our services, consolidating our expertise, and ultimately working smarter in a market that will be tough for years for come.”

In addition, Advantage has moved to a hybrid working environment for all head office staff using Regus shared offices. Advantage owns its former offices, which will be retained for rental income.