Seera Group Reports Gross Booking Value of Over Sar 8.6bn Ytd, With a 77% Growth in Online Consumer Travel for Q3 2019

Seera Group (formerly Al Tayyar Travel Group), (the “Company”) (Tadawul: 1810) – the Middle East’s leading technology-powered travel and tourism company today announced financial results for the third quarter ending 30 June, 2019.

Financial Highlights

• Group gross booking value (GBV) increased by 6% in Q3  2019 to SAR3,302K  vs. SAR3,129K  in Q3 2018.  Overall, the impact of the non renewal of the Ministry Of Education contract was more than offset by the strong and consistent growth in consumer travel and car rental units.
• Consumer Travel recorded SAR 1.3Bn GBV for Q3 2019 v’s SAR 861 million in Q3 2018, an increase of 52%.  Consumer Travel gross booking value (GBV) has surpassed SAR 3.1Bn YTD 2019. Online travel generated  over SAR 1Bn GBV in Q3, a 77% growth over last year.
• Car Rental posted a 78% increase in revenue in Q3 2019 , to SAR 73m.

With the Kingdom set to welcome tourists from around the world following the announcement of the new visa framework by the Saudi Tourism Authority (SCTH), Seera Group has set firm strategic measures to ensure that it leads the transformation of the tourism sector.

Abdullah Al- Dawood, CEO at Seera Group said:

“Our performance highlights our commitment to build the tourism value chain of the Kingdom, as Saudi Arabia enters a new era of growth,” said Al-Dawood. “In this transformation of the tourism sector, the private sector will play a key role in enabling global visitors to experience the rich and diverse cultural heritage and modern attractions of the Kingdom.”

“The visa framework marks the dawn of a new era, one rich with opportunities, and one that will position the Kingdom as among the most popular tourist destinations in the world. The Saudi Tourism Strategy outlines a clear and concerted focus to boost both domestic tourism as well as international inbound travellers,” he added.

Seera Group is also focused on human capital development by strengthening the skillsets of Saudi youth for rewarding careers in the tourism sector.  The Group has launched the Almosafer Academy to enhance and upskill Saudi national capabilities within the tourism sector. The first programme was launched in September  2019.