The luxury holiday company, Kuoni, has revealed it made a £29million loss in the first half of 2009, giving a clear indication that the market for luxury holidays has reduced in the current financial climate.
Last minute holiday deals to high-end destinations like Dubai and Thailand were reduced to only about £700 per person by Kuoni as a response. The company are also looking at reducing salaries in order to manage costs.
Kuoni’s head of late trading says that last minute five star holiday deals are proving hugely popular with booking numbers increasing. Holidays to luxury destinations such as the Maldives, Thailand and Mauritius have all been selling well. However, holidays to the USA and India have shown a downturn in booking numbers.
The company are still confident of making a profit in 2009, with bookings in the second half of the year typically being greater in number.