MULTINATIONAL firm Dyninno Group of Companies announced its ambitious plans for the Philippines this year.
Alex Weinstein, founder of Dyninno Group of Companies, said the company is focusing on expanding locally and plans to hire over a thousand people in Cebu and more than 500 in Manila driven by the ongoing “revenge travel” trend.
Dyninno Philippines Cebu handles the Dyninno Group of Companies’ travel business arm called the Trevolution Group, which operates International Travel Network, ASAP Tickets, Skylux Travel, Dreamport, Oojo and other travel brands.
Dyninno currently employs 800 employees in Cebu.
Trevolution Group reported a steady 10 percent growth in flight sales across the Philippines in the first half of 2024, noting the country as a top destination for international travelers.
It said that over 90,000 airline tickets have been sold across traditional leisure tourism, as well as the emerging visiting-friends-and-relatives (VFR) segment, resulting in more than US$120 million in gross bookings, or almost 20 percent of the company’s overall gross profit during the first half of the year.
Economy class constituted 98.5 percent of all flight bookings and went up in demand by 9.6 percent. The share of round-trip tickets increased by 2.5 percent and amounted to 79.7 percent of all tickets sold.
The company said that the Philippines has been a top travel choice for the group’s air passengers, and currently, the demand for transpacific flights departing from the country is also growing significantly and surpassing the levels seen before the Covid-19 pandemic.
In the first six months of 2024, Trevolution Group reported a 48.3 percent increase in outbound tourism compared to the same travel period last year, which indicates the market’s rapid recovery and progressive economic growth.
“Today, more Filipino travelers choose foreign destinations that are closer to home or prefer to travel domestically showing almost a threefold increase in flights taken across the country compared to the first half of 2023. Family-friendly destinations and extended weekend trips are stealing the spotlight while simultaneously boosting the local tourism sector,” the company said.
As of Aug. 19, 2024, the Philippines has registered a total of 3,860,730 international visitors who came into the country, of which 92.05 percent or 3,553,720 are foreigners, while the remaining 7.95 percent or 307,010 are overseas Filipinos.
The top 10 source markets are South Korea, the United States of America, Japan, China, Australia, Taiwan, Canada, the United Kingdom, Singapore and Malaysia.
In the Philippines, fewer than one-third of air passengers book tickets more than three months in advance, similar to 26 percent in the first half of last year. Meanwhile, nearly 15 percent book within 10 days of travel, reflecting a three percent increase in last-minute bookings compared to the first half of 2023.
Given the positive performance of the Philippine market, Weinstein said they are now working on offering travel products to the local clientele, including introduction of the financial options to help finance air travel.
The company is also launching a new product, the all-in-one travel super-app Dreampass, designed to further enhance customer engagement.
Trevolution Group has established itself as the market leader in the travel business, specializing in the visiting friends and relatives’ segment.
Over 840,000 unique airline tickets and vacation packages were sold by the companies under the Trevolution Group brand in 2023, making it the fourth-largest airline ticket consolidator in the US. /KOC