Holiday Firm Goes Bust... Are You Affected?
The collapse of hotel booking specialist 'On Holiday Group' could affect up to 100,000 people! You may not recognise the name but the company is the largest 'bed bank' in the UK that a lot of online travel agents use so you may have you been affected but don't know.A 'bed bank' company buys a huge number of hotel rooms in various resorts around the world and sells them to travel agents. Because they buy so many rooms they get a much better price, so travel agents use them because it's a lot easier and cost effective than going to hotels directly.
On Holiday Group have gone bust still owing hotels money for well over 100,000 rooms. What this could mean is that some people will have paid for their hotel/package through a travel agent but the hotel wouldn't of received their money!
If you've booked a holiday through a Travel agent it's advised to call and check to see if you have been affected.
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