The business arranged the facility with Barclays Bank as a contingency plan for Covid, but announced at its Independence Group (Hays IG) conference today (October 3), that it was handed back at the end of April.
Hays Travel chief operating officer Jonathon Woodall-Johnston said this means Hays Travel has had no debt in its 42 years of operation, and has none today.
Woodall-Johnston reiterated also that Hays Travel is not using any customer funds to operate the business.
In the company update, Woodall-Johnston said Hays IG has continued to outperform Hays’ retail arm this year, with both divisions exceeding 100% of monthly commission versus target between May and August this year.
Although Woodall-Johnston did add that September had been a more challenging month.
Cruise has been a standout performer for the company, with the cruise contact centre outperforming the overall business’s monthly commission versus target/budget between May and August this year. Again – both exceeded 100%.
Elsewhere, Woodall-Johnston shared that for 2022 55% of Hays Travel retail customers were repeat, versus 51% of Hays IGs’.
Recruitment continues to be a “significant challenge” for Hays Travel’s turn-of-year productivity, although homeworker recruitment growth is at 25%.
And Hays has launched its fair share of incentives for existing staff including a new bonus scheme in 2022.
Meanwhile Hays Travel chairman Dame Irene Hays remains optimistic of a strong turn-of-year, despite the cost of living crisis and reports of a lack of trust in the sector.
Addressing the conference, Dame Irene said reports of a lack of trust in the travel sector were skewed by the likes of train companies being included in that group, and that actually faith in the travel trade has never been higher.
She said there remained a huge appetite for travel, despite the cost of living crisis.
“If ever there was a time we should just keep it simple and crystallise our core messages for turn-of-year, it’s now. We’ll keep an eye on it, but all the research is suggesting there is a huge appetite for travel.”
