Financial peace of mind
At a time like this, you may be rightly worried about booking a holiday with any travel company. I would like to reassure you of the financial position of Lochs and Glens Holidays.
We keep all the money that you have paid us for holidays that are yet to depart ringfenced.
We don’t treat your money like it’s ours until your holiday has departed. This is very unusual in the holiday industry but it’s the prudent thing to do.
We have a bond with the Bonded Coach Holidays that protects all the money that you pay us.
Even if something happened to us, the bond will refund any holiday money that you have paid.
You can check our membership here: http://www.bch-uk.org
We own all our hotels and our coaches outright.
Often, hotels and coaches that appear to be owned by a holiday company are leased.
We have no external debt at all.
Again, this is unusual but it’s the prudent way to operate the business. The only thing that is leased in the company is our laundry equipment and that’s only because commercial washing machines need a lot of servicing.
We have never had external investors or external shareholders.
We don’t have anyone trying to make us pay out dividends or repay loans.
For 41 years Lochs and Glens Holidays has been run as a family business with old fashioned financial values: Don’t spend what you don’t have. Always save up for a rainy day.
Never in peacetime has something so unexpected happen as is unfolding now. Our prudent approach ensures that once life starts to return to normal, we will be in a strong position to continue with our holidays to some of the world’s finest scenery.
In the meantime, please stay safe.