Travel fund Reka increases turnover close to all-time record in 2023
Published: Wednesday, Jan 10th 2024, 12:11
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Following a decline in the previous year, the Swiss travel fund Reka increased its turnover by around 2 percent last year. At CHF 100.0 million, the Group, which is active in the vacation business and payment methods sector, achieved the second-highest operating turnover in its history.
As Reka announced on Wednesday, vacation business grew by 2.8 percent to 78.6 million francs. The Reka Group's resorts performed better than in the previous year. Among other things, the Golfo del Sole beach resort, which Reka operates in Tuscany, once again achieved record earnings thanks to high demand for holidays abroad and an exchange rate that was favorable for the Swiss. The Swiss Holiday Park also grew, according to the press release.
On the other hand, sales at the vacation resorts operated by Reka in Switzerland, which include eleven Reka vacation villages and seven vacation home resorts in all parts of the country, remained "just at the previous year's level". And in the case of third-party offers brokered by Reka, gross revenue was even lower, as Reka writes further.
Barely below record sales
In the Reka Money division, where Reka offers vacation and leisure money, among other things, gross revenue remained at the previous year's level at 21.4 million, according to the figures. After the coronavirus pandemic severely restricted the use of Reka Money, the use of the means of payment in public transport and for vacations and leisure activities continued to increase. In private transport, however, the volume of Reka Money issued declined, according to reports. Reka attributes this to the lower average fuel prices.
In addition, the shift from physical to digital Reka money is continuing. Only 8 percent of Reka-Checks sold were issued in physical form, whereas the number of Reka-Cards has continued to increase.
The cooperative travel fund based in Bern had a record year in 2021 thanks to the coronavirus pandemic. At that time, the cooperative's turnover had risen to CHF 100.3 million, partly because the local population was increasingly taking vacations in Switzerland and Reka's offers in Switzerland were therefore in high demand. The following year saw a decline. With the turnover now achieved, Reka is approaching the record result again, but is still only just short of it.
©Keystone/SDA
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