Kompas is one of the major travel agencies in Croatia.
Tourist agency Kompas Zagreb is experiencing problems in its business operations which is why it has cancelled already contracted passenger travel programmes, while branch offices are closed for their clients. This has been confirmed by the Association of Travel Agencies of the Croatian Chamber of Commerce (UPA), reports Poslovni.hr on October 4, 2018.
“We have received information about problems at Kompas Zagreb,” said UPA president Boris Žgomba, adding that he could not comment further because he did not know all the details. He advised Kompas customers that they have legal instruments available to protect their rights. “Information coming to us from passengers and partners of this agency suggest that contact with Kompas Zagreb has been impossible in recent days. People cannot get any feedback,” said Žgomba.
He hopes that issues at Kompas will be resolved since it is an agency which organises trips across Europe and the world. He believes that the problems at Kompas should not cause greater market disturbances in Croatia and abroad.
A similar thing happened in the mid-2000s, when another major travel agency, Generalturist, shut down after 80 years of operations due to bad business decisions and not adapting to market trends.
According to unofficial information, Kompas Zagreb has about 50 employees. Since 2017, the owner of Kompas Zagreb, which has been active since the mid-1960s, is Inspire Investments, which took over 86 percent of the shares in the agency.
At the signing ceremony, the company leadership announced they would use Kompas and the Fleet rent-a-car company to create a new group that will contribute to the development of Croatian tourism in the coming years. At the time, in April 2017, they announced that their intention is to execute strategic changes in Kompas’ business focus, with a special boost of incoming traffic and innovative technologies and business procedures, in order to make significant steps towards further business growth and profitability without negatively influencing the stability of the company.
Obviously, they have not succeeded.
Translated from Poslovni.hr.