Travel technology developer Intuitive says it is happy with the growth it has seen this year having lost its biggest customers last year when the Lowcost Travel Group failed.
Lowcost, the bed bank and OTA which previously owned Croydon-based Intuitive, had licensed the firm’s technology and taken development in-house prior to its failure in July last year.
Paul Nixon, managing director, said the firm has since stabilised its finances and today its top seven clients represent 50% of its revenues. He said the firm did £9 million worth of deals this financial year, which ends on December 31.
“That’s given us real financial stability,” Nixon said. “We are growing. We are adding around half a million of EBITDA every year.”
Intuitive was subject to management buyout in 2012 which saw private equity firm NVM come in as it’s new owner. Nixon said they are patient and choose the right time to exit but that nothing was imminent.
Intuitive has made changes in the way it operates to improve delivery including a continuous delivery approach which is speeding up the production and development processes.
It has also struck a partnership with consultancy ICE ICT to help with project delivery and strategy. This sees an ICE consultant allocated to clients to act as a middleman between the customer and Intuitive and was “acknowledgment of previous failings in that area”, Nixon said.
Intuitive has recently licenced its source code to wholesaler Jac Travel which has developed its own in-memory technology.
It has also developed an internal bed banks for fast-growing OTA Love Holidays and Fleetway Holidays, delivered a major project for Sunway, Ireland’s biggest tour operator on budget and on time in five months, and continued to work on integrating more hotel supply and channel managers.