Cape Kidnappers, New Zealand, courtesy of Gary Lisbon
As 2009 draws to a welcome close, and travel operators and our clients turn to face 2010, we do so as an industry and as individual travelers who may never be the same.
The travel industry was as affected as any during the last 14 months. Hotels, airlines, cruise lines and tour operators have all seen traffic collapse, margins tumble and yields diminish. We will see our business drop by 50 percent in FY 2009; fortunately, as a well-capitalized and conservative business, we have always operated with the knowledge that the good times are not forever and planned accordingly.
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