CNG Travel feels the squeeze
The company, which floated on London’s Alternative Investment Market earlier this year, said hotels had found it easier in recent months to fill rooms without using intermediaries. CNG’s revenues suffered as it missed out on commissions that would otherwise have come from hotels that used its software to sell rooms over the internet.
Chief executive Finbarr Power said it was disappointing that improved economic conditions had changed the market and impacted on the company’s ability to generate high-margin hotel bookings.
