The Curacao Travel organization Oad has been declared bankrupt. Changing economics and what has been attributed to a reduced turnover from its travel arm has lead to the bankruptcy. Oad have had to file for bankruptcy when it was unable to meet its commitments. Local business add that the Oad bankruptcy could have serious consequences for the hotel industry in Curacao.
The bankruptcy of Oad (Overijsselse Autobusdiensten) has caused a stir among the other travel companies. Founded in 1924, the travel company, was a leading tour operator. They also had the 140 travel outlets.
The changing face of travel tourism and online booking has heavily impacted travel agencies across the globe. SGR, a foundation which guarantees travellers their money back in cases of emergency, has announced that all 7000 people who are on holiday will be able to continue with out incuring additional costs.
Those who still have to start their trip can get their money back or will be offered an alternative trip and asked to check details announced on the website of Oad and the SGR for further announcements.
According to local business people, the Oad’s bankruptcy could mean disaster for the tourism industry in Curacao as it comes on the heels of the departure of Breezes Vacation Club, Hyatt Hotel closure, bankruptcy of DAE, and now Oad.