Millenium Tour invests EUR 1 M on medium term for new booking travel portal, Concediu.com

Millenium Tour Travel agency is launching Concediu.com, a portal for integrate tourist package booking (accommodation, transport, food). Travellers will be able to book those integrate services from the offer provided by more tour operators providing trips in Romania and abroad (charter packages for Greece, Turkey, Spain, Portgual, etc).

In a first stage, the webiste is comprising over 3,000 tourist packages in over 40 destinations, with 80% of them being overseas. Concediu.com also has an online price integrator allowing the customer to pay online for a tourist package, through PayU. The platform was developped by TravelFuse.

„It’s very easy today to buy online accommodation and flights, but when you look for a complex package and you want the entire offer available on the market you have to search on every tour operator, meaning more time for research, for comparing the numerous offers, which make the choise even harder. Hundreds of tourists are buying a charter package abroad on an annual basis, while other millions choose tourist packages in Romania. We identified the need of such an online project to customize the offer from the multitude of packages on the market,” Madalin Mancila, Concediu.com managing director announced in a press conference on Tuesday.

The portal’s offer will be permanently updated and supplemented. 100,000 visitors are expected on the website in the first month and another 15 million in the first year.

The investment on medium term mounts to over EUR 1 M, with the money to be used for the development of the booking platform and to reach a market leader statute. According to the managing director, about 60% of the investment will be actually directed for marketing.

Concediu.com was developped in the record time of three months and needed an initial investment of EUR 100,000.

„We want to be the best in the market, especially that this market share will definitely generate competition in the upcoming years. Our plan is to develop Concediu.com and we don’t rule out an exit in the fifth year,” Mancila pointed out. The platform eyes a turnover of EUR 6 M in five years.

The managing director estimates that the tourist online shopping market to slightly change in the upcoming three years. He argued that if 90% of the Romanians are searching for travel offers online, the percentage who actually buys packages online is quite low, with 70% still resorting to the offline payment through the travel agencies. The transaction price average is roughly EUR 800-EUR 900.

Millenium Tour is a corporate travel agency set up in 1999. It created Portavion, the travel air ticket booking webiste, in 2005, which has been bought by Happy Tour, owned by GED Spanish investment fund, in 2006. Millenium Tour has posted a EUR 2 M turnover at the end of last year.