Consortia
There is no denying that tourism and hospitality industry is experiencing a rapid boom, but it’s also increasing competition in the marketplace, mostly for the travel agents. To survive in this tough situation, travel agencies look for new ways from time to time. According to some experts, most travel agents opt for consortia model where they affiliate with other companies/people having same interest to secure their position in the market as well as to reduce operational cost and increase profit margin.
Wizie has developed a unique consortia model that gives diverse product portfolios, solid management skills, niche expertise and strategic positioning. This model is primarily based on the idea that many small agencies can benefit from their association with a larger agency. A shared technology and marketing strategy can benefit all the affiliates to make money and enhance client service quality. Though many companies fear to make such deals, a successful deal can prove fruitful for both/all the partners.
To gain access to new markets, Wizie has acquired the possession of Convergentware, a $10 million agency based in Toronto, Canada. The deal opened the door to expansion, cost cutting, market niches and access to new marketing and technology resources.