Tourico Holidays, a global leader in wholesale travel brokerage, today reported it has increased its hotel inventory in Asia by 20 percent in 2016, as the company continues to focus on increasing its influence in the region. In the last five years, Tourico has more than doubled its hotel partnerships in the market, amassing a total of over 5,000 hotels in the region.
“Asia is a region demonstrating incredible travel growth, punctuated recently by a very strong first half to 2016, so our primary goal now is to double our hotel inventory again in the next five years,” said Steve Skidgel, Executive Vice President of Global Product Development for Tourico Holidays. “In addition to bolstering our hotel partnerships, we’ve also shifted focus to building out our pre-purchased hotel inventory in the market, growing our ancillary inventory, and continuing to add offices and personnel on the ground.”
Year-over-year bookings of pre-purchased hotel rooms, or “ExclusiveDeals”, have increased by more than 100 percent in Asia in 2016. Over 20 years ago, Tourico pioneered the practice of purchasing room blocks on a massive scale, and today this unique inventory is a driving force behind the company’s growth in Asia. Tourico aims to pre-purchase another $15 million dollars in hotel inventory in Asia before the year’s end – targeting primary cities in China, Japan, Korea, Singapore, Thailand and Australia.
Tourico has also made a commitment to contracting ancillary products in the region to help its distribution clients and travel agents increase their margins. In the past month, the wholesaler has partnered with Thai Rent A Car, in Thailand, and Hawk Rent A Car, its first car rental partnership in Malaysia.
To facilitate its growth and to support its legacy partners in the region, Tourico recently opened a new office in Shenzhen, China, and plans to open offices in Seoul, Korea and Sydney, Australia within the next six months. The new locations and additional personnel will work closely with existing Tourico offices in the Asia-Pacific region – including those in Beijing and Shanghai, China, Hong Kong, Tokyo, Japan, Bangkok, Thailand, New Delhi, India and Brisbane, Australia.
“Our rapid growth and continued expansion into the Asia-Pacific region should indicate to our supplier partners and distribution clients that we intend to play a major role in this travel ecosystem today and in the years to come,” Skidgel said.
Tourico Holidays will be exhibiting its comprehensive lineup of travel offerings – including hotels, cruises, activities and transfers, car rentals, and vacation homes – at ITB Asia from October 19th to the 21st.