Source - Alliance News

Ten Lifestyle Group PLC on Monday said it has won a new contract in the Americas and has ‘materially developed’ an existing contract in Europe, the Middle East and Africa.

The London-based lifestyle and travel services company has won a new contract to launch a new digitally enabled concierge programme in the Americas to premium customers in the second half of 2023.

This agreement is expected to be a medium contract, which means it will generate between £250,000 and £2 million.

Ten also said that it has extended a contract with an unnamed ‘corporate client in EMEA.’ It said that currently it provides a banking product that includes Ten’s digitally enabled concierge and lifestyle services.

Ten noted that this product has proved ‘popular’ and therefore the client has agreed to pay Ten materially more per member to drive their customer loyalty objectives.

This is expected to grow the existing medium contract to a large contract this financial year. A large contract generates between £2 million an £5 million.

The company said these contract developments are incorporate within its current expectations for the year.

Ten also said it will host a capital markets day on March 21.

Shares in Ten Lifestyle were up 1.5% to 91.32 pence each in London on Monday morning.

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