Saudi travel services provider Seera Group reports strong growth in the second quarter of 2022

Saudi travel and tourism services provider Seera Group recorded robust growth in the second quarter of 2022. Growth in demand for services in the inbound, outbound and domestic tourism sectors fueled an increase in the gross value of bookings ( GBV) from Seera to SAR 2.5 billion in Q2 2022 – a 108% increase from SAR 1.2 billion in Q2 2021.

In the first six months of 2022, Seera achieved GBV of SAR 4.1 billion, an increase of 105% from SAR 2 billion in the same period of 2021.

Q2 Highlights
Almosafer, Seera’s travel business, reported GBV growth of 89% to SAR 1.7 billion in the second quarter of 2022, from SAR 0.9 billion in the second quarter of 2021. Its consumer travel unit reached its highest quarterly GBV of SAR 1.1 billion in Q2 2022, a 175% increase from SAR 0.4 billion in Q2 2021.

In June, Almosafer recorded the highest levels of travel bookings in its history, surpassing pre-pandemic levels in June 2019 by 27% with a GBV of over SAR 500 million. Almosafer’s consumer travel segment is on track to reach SAR4bn GBV by the end of 2022.

High levels of consumer bookings reflect strong demand for international and domestic travel, especially during the summer season on the unit’s omnichannel booking platforms. Bookings for London and Paris this summer exceeded pre-pandemic levels in 2019, driven by the introduction of the electronic visa waiver for Saudi nationals on June 1 in the UK and the lifting of pandemic restrictions in France.

Thailand and Türkiye are also among the popular destinations this summer, due to announcements that Saudi nationals are exempt from visa requirements to travel to Thailand and are now allowed to visit Türkiye.

Almosafer Business
The group’s business and government travel management unit reported GBV growth of 27% from SAR 473 million in Q2 2021 to SAR 600 million in Q2 2022, as it continues to serve government and semi-government customers with travel management products.

The company’s car rental and leasing brand continued its growth trajectory with revenue up 40% from SAR 122 million in Q2 2021 to SAR 171 million in Q2 2022. With a fleet of over 18,500 vehicles in Q2 2022, consumer and business reservations continued to increase. . Consumer bookings through Lumi’s mobile app and outlets at airports and major cities across the Kingdom also increased.

Ongoing and newly concluded leases with private and public sector customers contributed to the unit’s growth.

Seera’s wholesale tour operator for Hajj and Umrah recorded SAR 10 million in revenue for the second quarter of 2022, a significant increase from the second quarter of 2021. Growth was fueled by the return of demand for pilgrimages to Umrah as coronavirus and religious travel restrictions eased or lifted.

Discover Arabia
The company’s Integrated Destination Management Company (DMC) recorded a GBV of SAR 24 million in the second quarter of 2022, a 50% increase from the same period in 2021. Saudi inbound tourism demand Saudi Arabia has seen unprecedented growth with the reinstatement of visa on arrival options for UK nationals, US nationals and Schengen visa holders as well as the overall promotion of the Kingdom as a must-visit tourist destination.

Seera’s hospitality unit generated revenue of SAR 27 million, a 93% growth in the second quarter of 2022 compared to the same quarter in 2021. This was led by an increase in property occupancy of Seera in Makkah due to increased demand for Hajj and Umrah and steady growth in demand at two Choice hotels in Jeddah which opened in January this year.

Seera’s Corporate Ventures unit recorded GBV of SAR 547 million in Q2 2022, an increase of 402% from Q2 2021. The growth comes as Europe has seen a significant resurgence in demand in business, business and leisure travel, leading to strong performance in Seera’s largest. investment, the UK-based Portman Travel Group.

Majed Alnefaie, CEO of Seera Group, said: “This is another solid quarter for Seera Group, with growth across all of our business units. We reported a very positive summer booking season and travel demand remains strong, thanks to Saudi leaders’ focus on promoting the tourism sector as a key contributor to the economy. We will continue to meet growing demand and ensure our customers receive the best possible travel products and services from Seera Group, while creating added value for the Saudi economy.