Lifestyle Holidays

Tailored To FIT

When Bulls & Bears Finance decided to diversify into the travel industry in 1995, it had not anticipated the division to become the company's core business and a separate brand. Nikhil Dalal, MD of Lifestyle Holidays, expounds on how the tour operator brings in innovation in products according to the changing spend habits of clients

Nikhil Dalal

Dalal has not looked back ever since Bulls & Bears re-branded its travel division as Lifestyle Holidays in December 2004. It now sports a logo and a tagline that says, ‘In Touch With Your Elements.’

"Bulls & Bears was into the foreign exchange business since 1996 and ranked amongst the top traders for travellers cheques. So the company already had goodwill with a large client base in the travel and tourism industry. This helped when we diversified into travel. As our travel business grew at the rate of 100-150 per cent per year, we felt the need to give it an identity of its own and Lifestyle Holiday was conceived," Dalal says.

Business Strategies

Over the years, Lifestyle Holidays has tried to position itself as a key tour operator specialising in the FIT and MICE markets. Dalal adds, "We try to explore new aspects in every destination we sell. Our team explores the place first hand before selling it to our clients." He says that the company wanted to project itself as a travel outfit that could help its clients get in touch with their true self. Hence, its tagline ‘In Touch With Your Elements.’ It offers tailored holiday packages to an entire spectrum of travellers - from budget to luxury travellers, leisure to corporate, special interest travellers, and more.

According to Dalal, Indians have started holidaying with an enthusiasm that was never seen before, ever since the economy opened up and foreign exchange restrictions were lifted. Therefore, while actively promoting destinations like South Africa, East Africa, Australia, New Zealand, Far East and Dubai, Lifestyle Holidays is also focusing on conducting tours to Europe for travellers who want to cover more than one European country at a time.

"We want our clients to soak in the character and the essence of the destination that they visit. This is an encouraging trend that is slowly seeping into the community of Indian travellers. Rather than cramming in six to seven countries in their holiday schedule of 14 days, Indian travellers are opting to cover a maximum of two destinations and make reservations only after doing a thorough research," says the 45-year old MD.

With the industry buzzing with so much activity, getting a lot of business is easy, he says adding, "But what is essential, and rather difficult, is to handle and maintain the inflow. Ensuring that your clients come back for more is definitely not a cakewalk."

Dalal's team therefore strives for innovation. "We are the first tour operators to have launched the concept of luxury tours and we try to be different by offering new travel concepts in this segment," he reveals.

While generic advertising takes place throughout the year, the company promotes its products through marketing strategies that target the high-end segment. To further gain advantage over other travel operators, it has partnered with several travel bodies like tourism boards, airlines and hotel groups to promote specific destinations like South Africa, Malaysia, Mauritius and Brazil. "Before we launch any new package, we make sure that the products are well researched by our team. What it really boils down to is focus on newer destinations that will keep our clients interested," Dalal says.

Future Plans

According to Dalal, a company must always keep its policies simple. "Tour operators must realise that every traveller has different needs. They must, therefore, focus on creating tailor-made travel solutions, whether the client is an individual or a corporate company. They must also realise that the support of the NTO and state tourism boards is crucial for them as far as their understanding and knowledge of a particular destination is concerned," he says. This is why Dalal believes that it is important that tour operators work in tandem with them.

This is more so because retaining ones hold in today's market requires one to be aware of all the nuances and the shifts that are taking place constantly in the market. He believes that exposure is the reason behind this enormous change in the pattern and the attitude of the Indian traveller. "As people become seasoned travellers, they get more confident and adventurous with each trip they make and the need for a travel agent diminishes. They are willing to explore unconventional destinations like Egypt, Greece, Brazil and Vietnam. Along with the regular sightseeing, they also want activity-oriented tours including soft adventure. Special interest groups are emerging as a potential segment," Dalal says.

On the other hand is the average middle-class traveller who, though open to experimentation, treads a safe path. Describing this profile, Dalal says, "He wants to visit a destination that offers places of tourist interest - scenic beauty, shopping, casinos, and vegetarian food - for all members of his family."

But Dalal has his doubts. "Even though Indians are opening up to adventure and are willing to experiment, the internet and e-travel portals are yet to become popular. They are still not confident about booking on the net. Perhaps, it is just a case of old habits dying hard. But I am sure that in time, travellers will surely take to internet booking," he adds.

Predictions For The Segment

But the bottom line is that the tourism market is undoubtedly booming. He explains this saying, "With disposable incomes skyrocketing, travel now features in the A-list of every Indian. It is like a domino effect, except that instead of falling, things are picking up." As a result, he anticipates changed spending habits. "There are two clear patterns emerging. On one hand, we have the middle-class family who travels with a planned budget but dreams of seeing the world, especially the Far East. On the other hand, there is the luxury traveller who does not hesitate to travel extensively and in style, but wants value for his money," he adds.

One of the segments that has projected phenomenal growth is the corporate arena. "In today's competitive environment where attrition is the order of the day, corporates are trying out every trick in the trade to keep their employees satisfied. MNCs are using foreign holidays as incentives to boost sales among dealer/distributor network as well as to retain their staff. Reduced domestic and international airfares have only added to this boom," he adds.

Statistics come easily to him and he says that outbound tourism has jumped from 53 lakh arrivals in 2003 to an estimated 75 lakh in 2005 with figures expected to touch 1.5 crore by 2010. Indians, who are known for working hard, are now learning to play hard too.