Phoenix Tours International Inc (鳳凰國際旅行社), which focuses on high-end tourism to the US and Europe, is ready to enter the midrange market through a second brand later this quarter.
The sub-brand, Mercury Tours (墨客旅遊), is set to operate under its subsidiary, Huaxia Tours International Inc (華夏國際旅行社).
“Considering the rising number of outbound local travelers, we hope to offer more medium-price products and to expand our customer base,” Phoenix Tours president Anthony Liao (廖文澄) said yesterday.
Citing data from the Tourism Bureau, Liao said outbound tourists hit a record level of 11.05 million last year.
The firm is also looking to cruises, he said. With four local agencies, Phoenix Tours chartered six upcoming cruises — four by Italian cruise organizer Costa Cruises and two by US-based Princess Cruise Lines Ltd.
This might raise cruise tours’ sales contribution from the 5 percent seen last year, Liao said.
Phoenix Tours, one of two Taiwan Stock Exchange-listed travel agencies, posted NT$3.11 billion (US$102.37 million) in consolidated revenue last year, up 3.98 percent from a year earlier, the company said in its filing data.
However, net income last year was NT$184.73 million, or NT$3.03 per share, down from NT$229.72 million, or NT$3.76 per share, in 2012, company statistics showed.
Liao attributed the decrease in profitability last year to the lower gross margin on group tours to Europe, as the consolidation of tour subcontractors in Europe hurt travel agency commissions.
The slowing revenue from group tours to China — mainly affected by fears of avian influenza — was the other major factor behind last year’s net income slide.
However, Phoenix Tours’ board has decided to maintain this year’s cash dividend at NT$3 per share to digest the company’s abundant additional paid-in capital, Liao said.
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