What Intosol does
The firm specialises in bespoke holidays and holds over 3,500 hotel and agency contracts around the world.
The company’s technology, VIRTOSOL, is used by its travel consultants to allow customers to preview their trips through interactive videos.
Intosol also manages a portfolio of boutique luxury hotels and villas through its SOUL Private Collection.
What it owns
The firm’s SOUL Private Collection is mostly located in South Africa, where it leases and manages the Penthouse on Beach, SOUL Llandudno, SOUL Rainbow’s End and SOUL on the Heads properties.
Oceans Wilderness, a nine-room, high-end boutique hotel located in the picturesque Garden Route area of South Africa, is the company’s first fully owned property, while it also owns a site to build a safari lodge in the Leadwood Big Game Estate, a 5,500-hectare wildlife reserve in the north-east of the country.
How it’s doing
Intosol said the cancellation of bookings due to the impact of coronavirus s had had a major impact on the business.
The company has received a EUR500,000 loan from the German state to maintain its staff and operations, it said in October.
Results for the six months to July 31 revealed a pre-tax loss of EUR714,308 compared to a EUR68,289 loss a year ago, while revenues stood at EUR84,480 from EUR3.29mln in 2019.
What the boss says: Hans Joachim Bischoff, chairman
“We have significant support from key advisors whom are negating fees to help the company and its shareholders through this unprecedented period of uncertainty.
“I wish to stress again that all our efforts are to try, protect the investment interests of our shareholders, service our travel clients demands whilst maintaining our staff and regulatory compliance.”