Saudi Arabia – Seera Group, a leading provider of diversified travel services, recorded substantial growth across all travel verticals for the first quarter of 2022 year-on-year.
The group’s gross booking value (GBV) increased by 87% in Q1 2022 to SR1.6 billion ($426.58 million) from SR873 million in Q1 2021, illustrating a dramatic rebound from travel demand following the easing of Covid restrictions, he said.
Seera Group achieved higher revenue, increasing from SR 186 million in Q1 2021 to SR 493 million in Q1 2022, an increase of 165%.
The group’s success was attributed to its investment in cutting-edge technology platforms and its focus on streamlining business operations to improve efficiency, which led to a 169% increase in gross profit to $158 million. of SR in the first quarter of 2022, compared to 59 million SR. in the first quarter of 2021.
Almosafer, Seera’s travel business, recorded GBV growth of 52% from SR647 million in Q1 2021 to SR984 million in Q1 2022. Growth was mainly driven by demand which has already returned to Q1 2019 levels. Almosafer’s consumer travel segment reported a 122% increase in GBV from SR 261 million in Q1 2021 to SR 580 million in Q1 2021. quarter of 2022, as demand for domestic and international travel is strong, with 720,000 flight segments and 325,000 room nights sold in the first quarter of 2022, an increase of 106% and 192% respectively compared to Q1 2021.
The removal of numerous travel restrictions around the world has triggered pent-up demand from travelers, while interest in domestic tourism remains high, with the many entertainment events in Saudi Arabia attracting travelers across the Kingdom.
Almosafer’s income soars
Almosafer’s revenue increased by 370% from SR12 million in Q1 2021 to SR57 million in Q1 2022. The increase in revenue was driven by consumer brand strength and the increased pricing power. Almosafer’s revolutionary omnichannel approach, 24/7 travel advice across all platforms and pioneering digital capabilities providing seamless booking services to consumers resulted in 32 million sessions on the platform in Q1 2022 , a 404% increase from the first quarter of 2021, Seera said.
Lumi, Seera’s car rental and leasing brand, continued its strong growth trajectory, with revenue increasing by 44% from SR112 million in Q1 2021 to SR161 million in Q1 2022. Backed by large-scale rental agreements with major government and corporate entities, Lumi continues to set itself apart from its competitors with its large fleet of well-maintained cars at competitive prices. Over the past year, Lumi has expanded its fleet by 40% to currently over 17,000 vehicles.
Lumi’s growth has also been propelled by the Kingdom’s large and growing leisure and entertainment tourism sector, with events enticing people to travel. The company’s focus on digital innovation is also an important factor in its success. Its mobile app, which cuts pick-up time from 15 minutes to less than five minutes, and user-friendly online portal enhance the customer experience by reducing car reservation and management time and improving convenience. In the first quarter of 2022, revenue generated from Lumi’s online platforms grew 44% month-over-month, the company said.
Discover Saudi, Seera’s Integrated Destination Management Company (DMC), increased its GBV by 135% to SR44 million in Q1 2022 from SR19 million in Q1 2021. Discover Saudi, which aims to to become the leading DMC for inbound tourism and to support the Saudi Vision 2030 goals of attracting 100 million visitors per year by 2030, welcomed 2,500 inbound travelers to the Kingdom in the first quarter of 2022. Building on its trusted reputation as the Kingdom’s leading DMC, Discover Saudi has been commissioned to provide transportation and accommodation services for some of the Kingdom’s biggest events, including the Saudi Cup, Dakar Rally and Extreme E.
Majed Alnefaie, CEO of Seera Group, said: “2022 has started with an incredibly positive start to the year. As the Kingdom’s national champion for the travel and tourism sector, we will continue to drive the Vision 2030 tourism agenda forward as an investor and facilitator in innovative and ambitious ventures. Travel is back and 2022 will be a very positive year for Seera Group and the travel industry as a whole.
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