On the Beach Group has blamed Low Cost Travel Group’s “aggressive bidding and discounting” before it failed as having impacted trading in the first half of last year.
The group released a trading update for the four months to January 31 in advance of its Annual General Meeting to be held today (Thursday), and reported a 20% increase in revenue year-on-year.
Along with “hotel partners in the Western Mediterranean holding back capacity”, On the Beach highlighted the impact on its trading of the Low Cost Travel Group before it failed in July.
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