Published on 25th of March 2022 on Travel Mole.
Protected Trust Services has seen a surge in enquiries during the last quarter and is continuing.
PTS says trading companies and start-up companies alike are looking to move to the Protected Trust Services trust model.
Mark Sutton, MD of PTS stated “We are hearing consistent feedback from enquiries and new members that the increase in bond costs is leading the business decision makers to change their financial protection models.”
“Embracing trust is proving to be an effective option for their business’ future. The sharp increase in bonding costs is simply becoming unaffordable for many travel businesses.”
“For UK travel companies that are moving to PTS they are seeing that trust accounts are a more affordable option. ”
“PTS saw a huge increase in membership during the past two years over Covid and this is continuing.”
PTS is seeing all types of UK travel businesses joining PTS including tour operators, retail travel agencies, independent homeworkers, flight specialists and consortia.
“For those struggling with the increased bonding costs, the PTS trust model is showing to be ‘a fantastic alternative’.
In 2022 PTS have welcomed 40 new tour operator and travel agency members.