Palma, October 8, 2018. Ovidio Andrés, founder and until now executive chairman of Grupo Logitravel, hands over the chairmanship of the company to Manny Fontenla-Novoa, former CEO of Thomas Cook for 10 years.
The biggest challenge for the Logitravel Group is to focus more on international markets, opening up to strategic partnerships for both buying and selling. The company has a lot to offer in terms of technology, efficiency, and process automation.
Ovidio Andrés affirms, "In 2019 we will celebrate our 15th anniversary. This year we will be at approximately €750 million in revenue. Things are going well for us; we have sustained year-on-year growth. Now is the time to make changes, with the wind at our backs." He added, "It's not a personal question of whether I want to retire; it's a question of skills. I believe we need an executive who knows how to connect our internal potential with the opportunities of an increasingly global sector. Manny has played in that league and has the international experience we need."
According to Manny Fontenla-Novoa, "I've been with the Logitravel Group for a year now, and I've found a fantastic team of young, highly skilled people. The hardest part of starting a new project is the restructuring process, but that's not necessary here. That's why I'm excited to join. We already have several international projects underway, and I hope they'll come to fruition soon. I'm going to have a great time."
More than a year ago, the Logitravel Group restructured itself into autonomous divisions, each headed by long-time members of the Group. Tomeu Bennasar , as Corporate CEO, is highly focused on inorganic growth. A key figure in the Group, he has been with them since its founding 19 years ago. Joan Balaguerleads the B2C division, encompassing Logitravel, Roomdi, and Alitravel. He was directly responsible for the cruise line and took charge of the Group's online travel agency (OTA) more than a year ago. He has also been with the Group since its inception 19 years ago. Samuel Selma, from the B2B division, managing SMYrooms and Traveltino, oversees hotel acquisitions and sales, with a particular focus on developing the Bedbank. He has been with the Group for over 10 years. Jesús Pons, CFO, manages a strategic and highly complex area within such an internationalized Group with multiple divisions. He has been with the Group for over 10 years, having come from EY. Javier Andrésis an investment analyst. He is the top manager of project analysis and profitability management. He has been with the Group for 6 years.
Ovidio's role during the later stages has been more focused on the development of the hotel chain, SMYhotels, playing an increasingly less executive role in the issuing group.
Logitravel – OTA of the Group
The online travel agency Logitravel has a business model entirely focused on vacations: cruises, dynamic packages, and tours, with sustained year-on-year growth in both sales and profit margin. Joan Balaguer leads this division alongside three very young people in their thirties, all engineers with a strong commercial orientation. Despite their youth, they already have extensive experience within the Group; they are 100% internal talent.
Logitravel has a strong leadership position in Spain and Portugal and is growing rapidly in France and Italy. In the other countries where it operates, Logitravel has a smaller presence; it has a foothold, but isn't driving growth.
SMYrooms, Bedbank of the Group
It is the Group's fastest-growing, most international brand, with a global distribution network. At the helm is Samuel Selma, a highly experienced professional in the hotel distribution sector.
SMYrooms covers Spain, Portugal, Italy, Cuba, Mexico, the Dominican Republic and European capitals through direct contracting.
The company's major challenge for the next two years is to consolidate a group of independent DMCs that dominate the business through competitiveness and destination expertise. The group contributes technology, extensive sales reach, process automation, and more. It's a highly beneficial relationship for both partners, while always maintaining the DMC's brand image and management autonomy. Tomeu Bennasar is leading this non-organic growth project.
Traveltool e-services, traditional travel agencies
The Traveltool project has been split to make it more efficient, on the one hand the services to agencies and on the other hand the products that are marketed exclusively to Traveltool agencies.
The Logitravel Group has created service-oriented brands with a specialist focus, operating entirely independently. Ovidio Andrés explains, "Our most important brand is SMYbeds, headed by Alfredo Fernández, another product of our youth system who has been with Logitravel since its inception." He adds, "Currently, Traveltool has nearly 2,000 points of sale across Spain, Portugal, Italy, Russia, and Mexico."
