Latest Italianway News
Mar 22, 2021
Airbnb co-founder Brian Chesky told a tech industry conference in 2014 that his accommodation booking platform was “the space eBay in its infancy.” old platform has inspired hundreds of small travel companies in its wake – many of which feature in the FT’s latest annual ranking of Europe’s fastest growing companies.Michele Matt, founder of MyCamper, a start-up Swiss Motorhome Sharing, Ranked 51st In Compound Annual Growth Rate 2016-2019, His Business Was Entirely Inspired By Airbnb – In fact, the same year Chesky was speaking to tech executives in San Francisco , Matt was on vacation in his Volkswagen California camper van in Sardinia. “[The van] because we don’t use it to go to work, so we thought to ourselves, “think Airbnb for RVs,” ”he explains. companies without war coffers to survive closed international borders and government exhortations to stay at home. S&P Global analysts say 56% of European travel companies they assess are now categorized as “CCC Which means they are seen as the capital structure. ”Anglo-German travel giant Tui had to take out three state-guaranteed loans of more than a billion euros each, while several smaller Cruise operators, travel agents and coach companies collapsed. ‘As a travel startup, we weren’t in the best neighborhood at the time’ – Michele Matt, Founder of MyCamper Italianway, which ranks 955th in the FT 1000, is a platform that offers vacant second homes to tourists. Since its inception in 2014, it has grown to become the largest short-term rental operator in Italy, he says. In 2019, the Italianway’s revenues, as well as its ancillary activities in property management and real estate, increased 30% year-on-year to 5.3 million euros (for Italianway Spa alone, revenues were 4.1 million euros). the company expected to double its revenue in 2020, but the onset of the pandemic last spring has caused sales to plummet by nearly 100%. As a result, the company has reduced its workforce by 25% and turnover only reached 2.8 million euros last year. Still, Celani is confident that 2019 revenue will return by 2022, and MyCamper Matt says his business has suffered as well. A fundraising round last April which aimed to raise € 2 million only raised € 1.1 million. “As a travel startup, we weren’t in the best area at the time,” he says. Recommended But some have been hit harder than others. At A&D Holidays (864th), which operates as Holiday Architects – an online travel agency offering tailor-made holidays from the UK to countries such as South Africa and Oman – revenues have fallen to zero. “It will take us as a company two to three years to catch up and return to our 2019 size,” says Andrew Hunt, the founder of the company. mainly airports and conference centers, have also felt the full force of the lockdown. Last month, a group of more than 60 European travel companies called on EU leaders for a coordinated plan to restart travel on time for the crucial summer season. met in Brussels to discuss the introduction of a bloc-wide health passport. However, at the same time, Covid-19 has accelerated existing trends that will leave some businesses potentially in a better position. Marco Celani, CEO of Italianway © Cristina Casati Marc de Vries, CEO of Swapfiets, ranked ninth on the list, says the company’s success comes from customers who want to enjoy “the service you get by using a bicycle” without Wapfiets’ hassle rents bikes through a monthly subscription that allows users of its app to call in engineers to change flat tires, repair the brakes or, if the problem is more serious, replace the bike. Andreas Scriven, head of hospitality and entertainment at Deloitte says the sharing economy has become “a huge trend” in travel, adding that younger consumers are more likely to prioritize spending money on experiences rather than owning things. Celani of Italianway says the pandemic has also prompted travelers to book vacation rentals in hotels, in order to stay “away from common areas.” remote locations – if lockout rules allow. Driving vacations and more local activities also came to the fore. For Swapfiets in particular, people’s desire to burn ‘corona kilos’ and be greener has helped increase its membership by 40 percent to 220,000 during the pandemic, de Vries says. Turnover rose from € 23m in 2019 to € 30m last year. It plans to launch in London, Barcelona, Vienna and four other cities in France this spring. As travel resumes, MyCamper Matt expects more competition. “Maybe in the days of the crown, not everyone has the capital or the courage to open [their] own business, but I think there will be a lot more players coming into space, ”he says.