Seera Group to capture lost ground this year as tourism improves

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RIYADH: Seera Group Holding is on track to wipe out its losses and register growth, buoyed by its car rentals business and improving domestic tourism, Muzzammil Ahussain, the group’s vice president, told Arab News.

During the first half of 2022, the group narrowed its losses by 43 percent to SR131 million ($34.85 million) from SR230 million in the year-ago period.

But the ground realities are changing. For instance, the Saudi travel and tourism agency is expected to generate SR4 billion in booking value exclusively from its travel brand, Almosafer, exceeding the SR3.8 billion recorded in 2019.

This number will be achieved through the upcoming annual entertainment and sports festival backed by the government, known as Riyadh Season, which is expected to attract an increasing number of tourists, stated Ahussain.

With the continuous growth of domestic tourism and the trips around various parts of Saudi Arabia, Seera’s growth will also be fueled by its car rental unit Lumi, which is projected to achieve close to SR1 billion in sales by 2023 with a fleet of over 18,500 vehicles.

“We’re very excited to be part of the tourism journey of Saudi Arabia and the Vision 2030. We believe that tourism is a critical element of the Saudi economy and industry, from inbound, domestic and international tourism,” said Ahussain.

As part of its business, the group integrates data and digital, and it believes that it is a key differentiator that will allow travel to scale across the Kingdom and around the globe, the group’s vice president said.

Earlier this year, Almosafer announced that it invested SR116 million to establish a joint venture with Hong Kong’s Klook Travel Technology, a developer of travel activities and services booking platform designed to connect travelers with experiences.

With this venture, the group is planning to create a one-stop digital platforms with end-to-end content and inventory management solutions that will support tourism and leisure activity providers in the Kingdom.

Ahussain revealed that the joint venture’s first product is scheduled to be introduced by the end of the year.

With the new partnership, activity providers in the Kingdom will be able to connect with global marketplaces and tour distributors, enabling them to build their business and elevate the Kingdom’s footprint on the global tourism map.

“We’re very excited to use data and technology and digital to transform the travel experience,” he said.