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Adapting to the situation caused by COVID-19 and changes in the tourism industry, Novaturas Group introduces a new service - leisure holidays and sightseeing trips in Lithuania. As neighboring countries continue to ease restrictions, the Company also expects to offer travelers holidays in other Baltic states in the nearest future.
The Company‘s starting position is the Lithuanian market and will offer its residents leisure and recreation hotel bookings in 7 Lithuanian resorts and 8 sightseeing tours by bus. The customers can purchase holidays both directly through the company's own channels as well as through an extensive network of business partners - travel agencies.
"Safe local tourism is a top choice for those who are planning their holidays very soon and will remain a good alternative throughout the year. Even though we are ready to resume our flights abroad this summer as soon as the safety of travelers is ensured, but at the same time we understand that some people, especially those who are considered to be of high risk, might be prioritising holidays in Lithuania or neighboring countries“, says Audronė Keinytė, CEO of Novaturas Group.
Many years of experience in the tourism industry across the world have enabled the Company to offer an appealing assortment of accommodation in the most beautiful resorts of Lithuania and strong negotiating positions to ensure competitive prices, especially for 3 or more nights stays.
The Company's management expects that diversification of services portfolio by adding local tourism options will enable balancing cash flow management faster and more efficiently until the planned government aid measures reach the Company. The Company follows the recommendations of the official authorities to ensure safe traveling while assessing possible future scenarios. Novaturas Group is ready to resume flights abroad as soon as the restrictions are lifted and all the partners - aviation and partners abroad - are ready to ensure the safety of travelers, our top priority.
About Novaturas Group
Novaturas Group is the leading tour operator in the Baltics states. Since 21 March 2018, Novaturas shares have been dual-listed on the Warsaw Stock Exchange and on Nasdaq Vilnius.
Novaturas was established in 1999, became the market leader in the Baltics in 2004. Aside from the Baltics, Novaturas has begun offering its products in Belarus, where they are retailed through local partners.
Novaturas continues to attract new clients thanks to its attractive and diverse offering and the high quality of its services. The Group offers both summer and winter package holidays as well as sightseeing tours by coach or plane to more than 30 destinations worldwide, including the most popular holiday resorts in Southern Europe as well as select locations in North Africa, the Middle East, Asia and Latin America.
The Group's strategy also aims to retain diverse and complementary distribution channels. Novaturas works with over 400 travel agencies, including all of the major agencies in the Baltics. It also operates retail offices of its own in main cities of Lithuania, Latvia and Estonia, and is investing in further development of its e-commerce channel.
The Company’s asset-light business model, which is characterized by strong cash flows from operating activities and low capital expenditures, allows it to pay out a large part of its earnings to shareholders. Paying regular dividends is one of the key elements of the Company's strategy. Every year the Management Board expects to propose for distribution 70-80% of the Company’s net profit.