50 | Covington Travel

Covington Travel
Gross sales decrease in 2020: 71% to 75%
Employees: 53

4800 Cox Road, Suite 200
Glen Allen, VA 23060
Phone: (804) 747-7077
Website

Executives

PRESIDENT/CEO: Josee Covington
CHIEF INFORMATION OFFICER/CFO: W. Paul Covington

Company facts

Predominantly corporate agency majority-owned by Josee Covington.

87% business, 7% leisure, 6% other.

BCD Travel affiliate.

Member of Virtuoso and Commonwealth Business Travel Group.

Pandemic response

Created Covid information web page as resource for customers and agents.

Migrated over 90% of staff to home-based operations.

Eliminated expenses where possible and worked with vendors to reduce expenses.

Furloughed and laid off some employees. Managed to keep two-thirds of staff employed.

Took advantage of relief legislation, including two rounds of Paycheck Protection Program loans and employee-retention credits.

Established substantial line of credit should it become necessary to support operations and recovery. So far, haven't needed to tap into it.

Deployed cloud-based phone system in late 2020 to improve efficiency and enhance customer experience.

Looking ahead

Vaccine rollout driving marked improvement in leisure inquiries and sales.

Meetings and events division working with clients to make plans now before meeting space becomes tight for the second half of 2021 and into 2022.

Domestic corporate travel will improve further as vaccination efforts progress and offices reopen.

International travel will lag the domestic recovery and will come back regionally as vaccination efforts proceed at varying rates. A standardized digital health passport would speed international travel's recovery.

Estimate to be back to 50% of monthly sales by August and nearly 70% by December.

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