Tourico Holidays, a global leader in wholesale travel brokerage, today announced that it will expand its effort to pre-purchase hotel room blocks from key suppliers throughout the world, making it a top strategic priority for the company. As part of its commitment to this unique hotel contracting methodology, Tourico has created a new team of “ExclusiveDeals” professionals dedicated to securing these agreements.
“Tourico pioneered the pre-purchase of hotel room blocks in 1995 and today, 20 years later, we are utilizing this strategy more than ever – providing added benefits to both our supplier partners and distribution clients,” said Uri Argov, Founder and CEO of Tourico Holidays. “Howard Johnson Penn Station, in New York City, was the first ‘ExclusiveDeal’ we ever signed, a $277,000 annual commitment. Now we have over 20 pre-buy partners in New York City, including 44,000 room nights at the Grand Hyatt New York in 2015, and over 400 total exclusive partners worldwide.”
“ExclusiveDeals,” or pre-purchased hotel room blocks, currently make up 2% of Tourico’s global inventory, but account for 42% of the company’s revenue.
In an effort to increase its ExclusiveDeals business, Tourico has named Michael Deane as the new Senior Strategic Product Director, and Bill Chambers as VP Strategic Product Development. Both Deane and Chambers will report to Dermot Quigley, the Executive VP of Product Development.
Pre-purchasing hotel room blocks is a win-win for suppliers and travel distributors. Hotel partners enjoy flexible terms and rates structure, a guaranteed monthly income stream, incremental business, and complimentary marketing from Tourico. Meanwhile, clients gain access to heavily discounted rates, no blackout dates, last-minute availability and more inventory. Collectively, the strategy delivers consistent business, greater visibility, and a healthier bottom line.
“Hotels have the unique opportunity to guarantee monthly income and to utilize Tourico as an easy, no-cost way to increase distribution and visibility of their brand,” said Argov. “Additionally, our travel agent clients are guaranteed the availability of high-demand rooms in key markets with the potential to increase their margins by 10% or more.”
For more information about Tourico Holidays’ ExclusiveDeals business, visit: exclusive.touricoholidays.com.