Luxury tourism: Myhotelmatch benefits from a dynamic market

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Last week, travel agency Myhotelmatch published figures showing that business is set to pick up again in 2022 and early 2023, testifying to the health of the luxury tourism sector.

 

Myhotelmatch, the travel agency specializing in luxury tourism, last week published encouraging 2022 results after the “blank year” of 2021, with no sales.

 

“Buoyed by the momentum of its operating subsidiaries” of bespoke luxury services (concierge, travel, events, etc.) integrated in July 2022, the group achieved sales of 7.8 million euros in 2022, benefiting from a “particularly buoyant” luxury market.

 

Myhotelmatch had cash and cash equivalents of 1.4 million euros at December 31, 2022, while net debt stood at 3.5 million euros. Operating income before non-recurring items, however, has fallen from a positive 11,000 euros in 2021 to a deficit of 801,000 euros in 2022.

 

Following the publication of a net loss of 571,000 euros for the 2022 financial year, compared with losses of 11,000 euros in 2021, Myhotelmatch shares fell by 11.68% to 0.024 euros.

 

For 2023, the group expects “a further increase in revenues thanks to its bespoke luxury services activities”. A first version of the app will be available for download from the App Store and Google Play in the third quarter of 2023. It will offer customers luxury stays “in perfect harmony with their expectations and needs, so that their trips are always a success”.

 

A growing sector

 

Luxury travel is an enriching experience that combines prized destinations, serene luxury accommodations, convenient travel and a regal travel experience. Luxury travel can be divided into several categories: adventures and safaris, cruises, rail travel, culinary and shopping trips, personalized and private vacations, and celebrations. Among age groups, the baby boomer segment held a dominant position in the market in 2022, followed by the millennials and Generation X segments, due to the increase in disposable income in the age group.

 

The global luxury travel market, estimated at US$1.1 trillion in 2022, is expected to reach a revised scope of US$2.3 trillion by 2030, with a compound annual growth rate (CAGR) of 9% over the analysis period 2022-2030. The U.S. luxury travel market is estimated at $308.5 billion in 2022. China, the world’s second-largest economy, is expected to reach a market size of $499.4 billion by 2030, with a CAGR of 12.8% over the 2022-2030 period.

 

What’s more, the growing adoption of digital media has simplified the processes involved in the luxury travel industry. Reservations can be confirmed via apps or online websites, and payments made via any online payment method. Social media platforms are useful for customers and sellers alike. Travelers and sellers constantly keep abreast of the latest trends in luxury travel on their smartphones, laptops and tablets.

 

 

Read also >Tourism: Saudi Arabia to record figures in 2023

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Last week, travel agency Myhotelmatch published figures showing that business is set to pick up again in 2022 and early 2023, testifying to the health of the luxury tourism sector.

 

Myhotelmatch, the travel agency specializing in luxury tourism, last week published encouraging 2022 results after the “blank year” of 2021, with no sales.

 

“Buoyed by the momentum of its operating subsidiaries” of bespoke luxury services (concierge, travel, events, etc.) integrated in July 2022, the group achieved sales of 7.8 million euros in 2022, benefiting from a “particularly buoyant” luxury market.

 

Myhotelmatch had cash and cash equivalents of 1.4 million euros at December 31, 2022, while net debt stood at 3.5 million euros. Operating income before non-recurring items, however, has fallen from a positive 11,000 euros in 2021 to a deficit of 801,000 euros in 2022.

 

Following the publication of a net loss of 571,000 euros for the 2022 financial year, compared with losses of 11,000 euros in 2021, Myhotelmatch shares fell by 11.68% to 0.024 euros.

 

For 2023, the group expects “a further increase in revenues thanks to its bespoke luxury services activities”. A first version of the app will be available for download from the App Store and Google Play in the third quarter of 2023. It will offer customers luxury stays “in perfect harmony with their expectations and needs, so that their trips are always a success”.

 

A growing sector

 

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Last week, travel agency Myhotelmatch published figures showing that business is set to pick up again in 2022 and early 2023, testifying to the health of the luxury tourism sector.

 

Myhotelmatch, the travel agency specializing in luxury tourism, last week published encouraging 2022 results after the “blank year” of 2021, with no sales.

 

“Buoyed by the momentum of its operating subsidiaries” of bespoke luxury services (concierge, travel, events, etc.) integrated in July 2022, the group achieved sales of 7.8 million euros in 2022, benefiting from a “particularly buoyant” luxury market.

 

Myhotelmatch had cash and cash equivalents of 1.4 million euros at December 31, 2022, while net debt stood at 3.5 million euros. Operating income before non-recurring items, however, has fallen from a positive 11,000 euros in 2021 to a deficit of 801,000 euros in 2022.

 

Following the publication of a net loss of 571,000 euros for the 2022 financial year, compared with losses of 11,000 euros in 2021, Myhotelmatch shares fell by 11.68% to 0.024 euros.

 

For 2023, the group expects “a further increase in revenues thanks to its bespoke luxury services activities”. A first version of the app will be available for download from the App Store and Google Play in the third quarter of 2023. It will offer customers luxury stays “in perfect harmony with their expectations and needs, so that their trips are always a success”.

 

A growing sector

 

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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