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Major Europe Tour Operator FTI Goes Bust, Threatening Malta Subsidiaries
Europe's third-largest tour operator has announced it is filing for insolvency, casting doubt over the future of two associated companies based in Malta.
On Monday, European tour giant FTI Touristik announced it was filing for insolvency citing low booking numbers and payment obligations, with other companies linked to the operator due to take the same action "in the coming days".
FTI Touristik is the parent company of FTI Group, which employs 11,000 people worldwide.
It is affiliated with two companies in Malta; its subsidiaries FTIAS Limited and Meeting Point Malta, which employ more than 110 people in their SmartCity offices.
It also operates the Labranda Riviera Hotel & Spa in Mellieħa.
While neither FTIAS Limited nor Labranda has yet provided an official statement on the development, as of Tuesday afternoon the website for the Labranda hotel was no longer reachable.
However, Times of Malta understands FTIAS is currently in negotiations with its parent company in a bid to secure jobs, according to industry sources.
On Monday, Munich-based FTI Touristik, the parent company of FTI Group, announced it was filing for insolvency, warning other companies in the group would also be affected.
In a statement posted to its website, the company said that while the insolvency would only initially affect the parent company, "corresponding applications will also be filed for other Group companies."
It said that despite bringing new investors on board in April, "booking figures have fallen well short of expectations... In addition, numerous suppliers have insisted on advance payment."
The company said that because of the drop in sales and its financial obligations, "there was an increased need for liquidity, which could no longer be bridged until the closing of the investor process. The filing for insolvency has therefore become necessary for legal reasons."
It said it was "working hard" to make sure planned trips went ahead, while those that had not begun would "probably no longer be possible or only partially possible from Tuesday".
The company stressed that looking after affected travellers was a "top priority" for the group.
Maltese companiesIn Malta, FTI Touristik is represented by FTIA Limited, which carries out supporting, or 'back-office' services for FTI Touristik including financial services.
Based at SmartCity in Kalkara, the company employs around 110 staff members and has been in business since 2012.
The office is also home to Meeting Point Malta, a brand that operates as FTI Group's destination management company.
The Labranda Riviera Hotel & Spa, meanwhile, forms part of the Labranda Hotels & Resorts chain of 30 hotels across Europe and Africa.
While Vassallo Group is part of API which owns the site of the hotel, it is not involved in its operation, a spokesperson for the company said when contacted.
When Times of Malta called the hotel on Tuesday morning, staff said it was still open.
When FTIAS and Meeting Point Malta moved to SmartCity in 2014, the tour operator was described as being responsible for bringing the largest number of holidaymakers to the Maltese islands from Germany, Austria and Switzerland.
But Tony Zahra from the Malta Hotels and Restaurants Association, said their market share has since decreased as other operators have come into the market.
"The impact on the local market will be minimal given that this is still the start of the peak season," he said.
Echoing Zahra's words, Chamber of SMEs deputy president Philip Fenech said while FTI had been the "biggest tour operator" active in Malta during the 1990s and early 2000s, the tour operator's operations had become "minimal" since then.
That contrasts with the Cyprus' hoteliers association, which warned that the insolvency could affect up to 30,000 hotel bookings on the island, while Greek tourism authorities said around 300 hotels in Greece were owed €1.8 million by FTI Group from last year, according to local media reports.
Responding to the news, Germany's Economy Ministry called the development "tragic" but that it would not be able to provide financial aid to the beleaguered company, while the country's Foreign Ministry said it would provide consular support if needed, according to Reuters.
And while news of the insolvency has caused shockwaves across Europe, according to one informed local source the company's collapse had been "a long time coming", adding Malta's hospitality sector was "big enough to absorb any losses" should the Labranda hotel shut down.
Questions were sent to FTIAS Limited on Tuesday morning. Times of Malta attempted to reach Labranda hotel for comment.
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Support UsThe Advantages Of Solo Travel With Group Tour Operators
Solo travel is on the rise.
gettyTraveling solo is a profoundly liberating experience. It offers the freedom to explore at one's own pace, delve into personal interests, and embrace new cultures without compromise. However, navigating international destinations alone can sometimes be daunting. This is where group tour operators come in, providing a structured yet flexible travel experience that ensures safety, companionship, and deep cultural immersion. Trafalgar Tours is one operator that attracts a large number of solo travelers.
The Benefits of Group Tours for Solo TravelersTraveling solo, but with a tour operator, provides comfort and security.
getty 1. Safety and Security:Traveling solo can occasionally raise concerns about personal safety, especially in unfamiliar territories. Group tours offer the reassurance of a structured itinerary, professional guides, and a group of fellow travelers. This structure minimizes the risks associated with solo travel, such as getting lost or encountering unsafe situations.
Travelers make meaningful connections with other travelers when on a group tour.
getty 2. Social Interaction and Companionship:One of the challenges of solo travel is the potential for loneliness. Group tours provide an instant social network of like-minded travelers. This social aspect can enrich the travel experience, fostering new friendships and shared memories. For solo travelers, this means not only having companions to share the journey with but also the chance to connect deeply with people from diverse backgrounds.
3. Expert Guidance and Local Insights:Group tours are typically led by knowledgeable guides who are experts in the local culture, history, and geography. This expertise provides solo travelers with valuable insights that might be missed when traveling independently. Guides can offer recommendations, translate languages, and navigate cultural nuances, enhancing the overall travel experience.
4. Convenience and Peace of Mind:Planning an international trip can be overwhelming, with logistics, accommodations, and activities to organize. Group tour operators handle these details, allowing solo travelers to focus on enjoying their trip. This convenience is particularly beneficial for those new to solo travel or visiting a country with complex logistics.
The Appeal of Shoulder Season TravelThe appeal of shoulder season is cheaper tours, less crowds but still plenty of fun.
gettyBooking a tour during the shoulder season—the period between peak and off-peak seasons—has distinct advantages, especially for solo travelers. Tour operators have more availability and the group size is smaller—in some cases half the size—during shoulder season.
1. Fewer Crowds:Shoulder season typically sees fewer tourists compared to the peak season. This means less crowded attractions, more personal space, and a more relaxed travel experience. Solo travelers can enjoy popular sites without the overwhelming crowds, making it easier to connect with the destination and fellow travelers.
2. Better Value:Traveling during the shoulder season often means lower prices for flights, accommodations, and tours. Group tour operators, including Trafalgar, may offer discounts or special deals during these times, making it a cost-effective option for solo travelers.
3. Pleasant Weather:Shoulder seasons often offer milder weather, avoiding the extremes of summer heat or winter cold. For instance, traveling to Vietnam in the shoulder season means pleasant temperatures, making outdoor activities more enjoyable.
Picking a DestinationHalong Bay is a UNESCO World Heritage Site, located in northern Vietnam.
gettyThere are so many places to go, but for many travelers it's hard to narrow down the list. For solo travelers, picking a far-flung local like Asia, is appealing because it's something many people want to do but it seems daunting to go so far alone. One of Trafalgar's most popular itineraries in Asia is Vietnam.
1. Immersive Cultural Experiences:Trafalgar's Vietnam tour is designed to provide deep cultural immersion. Travelers have the opportunity to explore bustling cities like Hanoi and Ho Chi Minh City, visit historical sites such as the Cu Chi Tunnels, and experience the serene beauty of Halong Bay. These experiences are enriched by knowledgeable guides who share the stories behind each destination.
Hoi An in Vietnam is a favorite city for many travelers because it's so picturesque.
getty 2. Unique Insider Experiences:One of Trafalgar's standout features is its "Be My Guest" experiences, where travelers are invited into the homes of local families to share a meal and learn about their way of life.
3. Hassle-Free Travel:Trafalgar takes care of all the logistics, from accommodations to transportation and activities. For solo travelers, this means less time worrying about details and more time enjoying the journey. Accommodations are selected for their quality and location, ensuring comfort and convenience throughout the trip.
Vietnamese women selling and buying fruits on floating market, Mekong River Delta, Vietnam.
getty 4. Social Atmosphere:The group dynamic on Trafalgar tours fosters a sense of community. Solo travelers are welcomed into a friendly, inclusive environment where connections are easily made. Whether sharing a meal, exploring a market, or enjoying a guided tour, the shared experiences create lasting bonds.
5. Flexible Options for Solo Travelers:Trafalgar understands the needs of solo travelers and offers options like single room supplements to ensure privacy and comfort. Additionally, their small group tours are ideal for those who prefer a more intimate travel experience.
Tour Operators To Market Negros Oriental's Diverse Destinations
DUMAGUETE CITY, Philippines — Philippine Tour Operators Association Inc., the country's leading and largest travel and tours group, and the provincial government of Negros Oriental joined hands in efforts to spur the tourism industry in the province.
2024 targetsFor 2024, executive director and provincial tourism board chair of Negros Oriental Tourism Council Woodrow "RR" Maquiling Jr. Said that the province targets 500,000 tourist arrivals, an increase from last year's 272,000 inbound tourists.
The 2024 tourist arrival target is still far from the more than 1 million tourist arrival record in 2019, the last full year before the Philippines implemented travel restrictions due to COVID-19.
Maquiling, however, said that despite this, the Negros Oriental tourism numbers are picking up, reporting that in the first quarter of 2024 the province beached its 125,000 quarterly target and registered 142,000 tourist arrivals. This is a 155% increase from the 55,000 registered in Q1 of 2023.
He added that the Department of Tourism estimates that the 142,000 is equivalent to P2.8 billion revenue circulating among the people of the province.
The provincial tourism official said that tour operators can help Negros Oriental recover from the impact of COVID-19 and promoting the province to international and local clients.
"We had four governors in one term at the capitol. All the help you can extend to the province and the people of Negros Oriental ensuring that our tourism stays afloat is very much appreciated," Maquiling said during the business-to-business session with PHILTOA and local stakeholders.
"PHILTOA will help us reach our goals, our targets. If we continue to push harder, maybe we can reach 600,000 arrivals by the end of the year," he said in another speech last May 19, adding that 550,000 to 600,000 is equivalent to P10 to P12 billion revenue for the province.
Negros Oriental has faced several challenges amid the changes in leadership following the controversial killing of Negros Oriental Gov. Roel Degamo.
Currently, the province is led by Gov. Manuel "Chaco" Sagarbarría who assumed office in May 2023. Maquiling said tourism is among the top priorities of the incumbent provincial government who wishes to push tourism, culture and arts as an economic driver for the people of Negros Oriental.
As a reciprocal gesture to the warm welcome of the provincial government, the tour operator members of PHILTOA and members of the press visited Negros Oriental from May 16 to 19 to immerse in the tour offerings of the province and its capital Dumaguete City, dubbed the "City of Gentle People." This coincided with the centennial celebration of the capitol.
The following members joined the familiarization tour eyed to market the diverse tourist destinations of the province including the world-famous Apo Island, Manjuyod White Sandbar, Balinsasayaw Twin Lakes, Dumaguete City's historic gems such as the Belfry, Siliman University, St. Catherine of Alexandria Cathedral and the heart of the city, Rizal Boulevard, among others:
They also networked with the province's fellow tour operators and hospitality groups including the Negros Oriental Association of Travel and Tour Agencies and the Negros Oriental Hotel Resort Restaurant Association in business-to-business sessions.
PHILTOA's commitmentMaria Lourdes Japson, PHILTOA 1st vice president and former Department of Tourism assistant secretary, said that the business-to-business session is "an excellent platform for sharing insights, exploring innovative strategies for tour packaging and marketing and discussing how we can collectively enhance our tourism products and services as well as destination management in order to create exceptional travel experiences."
Japson said that she and PHILTOA's 2nd vice president and trustee in-charge of product development, Mary Ann Ong, discussed the creation of a consortium for a Negros Oriental Tour Package that can be sold and disseminated to members to boost NegOr's tourism.
"As the leading and largest travel and tours association focused on inbound tourism, PHILTOA would like to express gratitude and our biggest congratulations to NegrosOriental for inviting us to explore your wonderful place and witness your incredible centennial celebration," she said.
"Congratulations and thank you also to my fellow former DOT executive ED RR. As our humble response for your kind gesture Gov Chaco and ED RR, we promise to promote and share our experiences here, we will do our best to boost the tourism arrivals just what ED RR expects from us. With what we experience yesterday and today and hopefully for the coming days, we believe Negros Oriental is truly a diverse destination that is truly visiting for," Japson added.
PHILTOA's Harold Atondo also announced that their tour operators group will return to Negros to explore its other tourist destinations including the Kanlaon Rice Terraces to further market more of the province's tourism offerings and spots to their clients.
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