Finally vacation!?: "In summer we can travel again"

Friday February 12, 2021

Finally holidays!?
"We can travel again in summer"

The travel industry is one of the hardest hit by the pandemic. Trivago boss Axel Hefer is nevertheless optimistic that it will start again soon and the tills will ring again. In his opinion, the travel behavior of holiday-hungry people will also change permanently.

Travel warnings, border closings, contact restrictions – tourism is one of the industries hardest hit by the pandemic. Nevertheless, Axel Hefer, CEO of the Düsseldorf travel company Trivago since the end of 2019, is convinced: "The travel market will come back. No matter who you talk to, no matter which market research study you look at, travel is always at the top of the list," he says in the podcast "Die Hour zero".

Axel Hefer has been CEO of the Düsseldorf travel company Trivago since the end of 2019.

(Photo: imago / Team 2)

The closer you get to summer, the more stable the situation will be. "I firmly believe that people will travel locally." He also has hope for holiday destinations within the respective continent, he only sees difficulties with long-distance trips: "If at all, they can be imagined in isolated cases, because the complexity is much greater there."

In view of a massive drop in sales of up to 90 percent, the company, which belongs to the US online travel agency Expedia, responded with massive layoffs in April: Around a quarter of the more than 1200 employees had to leave. "To announce such a step in front of an empty room with a television camera, especially if you have a culture where it depends very much on togetherness, that was really terrible," says the 43-year-old.

A few days ago Trivago published its figures for 2020. The turnover has slumped by 70 percent to 249 million – and was almost on par with the loss, which was 245 million euros for the past year.

Thanks to the adjustment and a solid capital structure, Hefer said, the company has come through the pandemic well so far. "There are always crises. Precisely for such situations you have reserves. You build them up for bad times. That's why I'm not really worried. We have enough liquidity."

Listen to the new episode of "Zero Hour":

• What permanent changes Axel Hefer predicts for the travel industry
• Why he doesn't feel threatened by internet giants like Google
• How Axel Hefer brings home office and childcare under one roof

You can find all episodes directly at Audio Now, Apple or Spotify or via Google.