The Thomas Cook crash has given online retailer On the Beach an “unprecedented opportunity” for growth.
The group today reported that trading has remained in line with management expectations for the full year to September 30.
However, On the Beach said in a trading update that the liquidation of Thomas Cook last month has had a “significant impact on the package travel industry”.
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The company added: “For On the Beach, this has created an unprecedented opportunity to take additional market share at an increased rate.
“As a result, the group has started to strategically increase its marketing investment both online and offline to attract new customers to onthebeach.co.uk, sunshine.co.uk, Classic Collection and Classic Package Holidays, and is well positioned across all channels.”
A further update will be given on the release of preliminary financial results on November 27.
On the Beach CEO Simon Cooper said: “I would like to thank all teams across the business for their exceptional response following the compulsory liquidation of Thomas Cook Group in ensuring that customers were either re-booked or refunded in the shortest possible time whilst maintaining our high quality customer experience standards.
“On the Beach has an exciting opportunity to significantly increase its market share over the short to medium term by leveraging its strong brand and core capabilities.”
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