Panache Travel Group (PTG) is a company which specializes in small, escorted luxury tour packages for discriminating clients. It will operate from two locations in order to better service customers throughout the country: one base in Salt Lake City, Utah and the second in New York City, New York. Panache Travel Group founders and staff are travel professionals with extensive experience who are passionate about what Panache Travel Group can offer.
Within the growing travel industry, PTG will focus on the niche market of luxury travel. Its primary clients are individuals, couples and affinity groups of high-net-worth who travel for leisure at least once per year. The target clients are looking for the best quality accommodations and activities, as well as superior service. PTG will be able to offer a more intimate, customized package tour that gives clients the opportunity to get personal attention from their hosts. This will give them a competitive edge over other travel agencies in the market. PTG will cultivate this niche with one-to-one contact with potential clients; personal contact with sophisticated travel agencies whose primary clientele targets our market; broad out-reach programs through various media; special events; and an inter-active, full-service website. Panache Services gives us access to all aspects and technology related to travel. PTG’s founders, staff, and management have extensive experience with luxury retailing and travel. They also have knowledge of local languages and history about travel destinations.
Luxury tour packages will initially be sold at a slightly lower rate than the market rate in order to expand market share and increase brand awareness. As a result, short-term operating profit margins are projected to be in low to mid range. Operating profit margins are expected to rise once PTG has built a solid client base and gained brand recognition.
1.1 Objectives
1. You will achieve substantial sales in Year 1. Then, you will see remarkable increases in Year 2 & Year 3. With corresponding increases in profitability, you will also be able to realize significant sales.
2. Panache Travel Group is a brand that will help customers retain their business, maintain the mind-share of Panache resellers, and increase pricing power.
3. Establish and sustain strategic alliances nationally, internationally, with travel professionals, to create additional PTG selling channels.
4. Produce the highest levels of client satisfaction in the industry.
1.2 Mission
Panache Travel Group’s mission is to create unique luxury tours and travel experiences that appeal to a narrow market of discerning clients. It achieves this satisfaction by repeat bookings, positive word-of-mouth reviews, and high-quality recommendations. PTG seeks recognition as a specialist within luxury travel. A well-run operation with smart people will allow everyone to enjoy the service and product.
1.3 Keys To Success
- Segment the market and target luxury travellers within the larger travel sector.
- Position and promote Panache Travel Group as specialists in the luxury travel segment of the travel industry.
- Use media and personal interaction to communicate the unique features and quality of PTG offerings.
- You can build repeat business by building a base loyal, satisfied customers.
