Value begins with the core assets
Direct leadership attention, capability and capital toward improving Travel and Golf. Measure progress against agreed value creation plans and funding limits.
Entrepreneurial spirit. Enduring value.The next chapter · Strategic concept
Investment
that stays close
to the work.
Focused on Travel and Golf.
Distinct businesses. Shared strength.
GROUP EXECUTIVE CHAIRMANACTIVE OWNERSHIP
Two verticals.
One group direction.HOWSAM
BUSINESS SYSTEM
One group direction.HOWSAM
BUSINESS SYSTEM
Ownership with an operating edge.Explore Howsam
01 Entrepreneurial accountability
02 Shared operating capability
03 Disciplined capital
01 / ABOUT US
Two sectors. A clear direction.
Two sectors.
A common conviction.
Howsam’s next chapter centres on two verticals: Travel and Golf.
We bring related businesses together around a clear strategy for each, supported by disciplined capital, shared capabilities and the Howsam Business System. Business leaders retain accountability for their customers, people and results.
Investments outside Travel and Golf are managed towards well-timed exits, with decisions guided by value, readiness and market conditions. The model stays close enough to shape performance while preserving entrepreneurial ownership.
02 / OUR MODELTwo verticals.
Two verticals.
One group direction.
Close enough to shape performance.
Entrepreneurial enough to move.
An active operating centre that makes each business stronger.
Passive holding companyHOWSAM Active portfolio companyFully integrated group
Clear accountability.
Connected execution.
The Group Executive Chairman sets the ambition and provides oversight. The Group CEO turns that ambition into group strategy, performance and measurable value creation across Travel and Golf.
Every business CEO reports directly to the Group CEO and retains full accountability for P&L, customers, people and day-to-day trading. The Group CEO integrates their plans with shared capabilities and strategic programmes, resolving priorities and dependencies across the group.
Select a role, vertical, business or capability to explore its mandate.
GROUP C-SUITEREPORTS TO GROUP CEO
BUSINESS CEO REPORTINGEvery business CEO reports directly to the Group CEOApplies to all businesses shown below
TRAVELCORE VERTICAL
GOLFCORE VERTICAL
OTHER PORTFOLIO INTERESTSVALUE-LED REALISATION
Shared scale across Travel and Golf
Proposed operating relationships and strategic groupings. Business identities, legal structures and governance rights remain distinct unless formally changed.
The principles behind the model
New investment strengthens a vertical
Acquisitions and new commitments should strengthen an existing business, add a relevant capability or improve the position of Travel or Golf.
Review the case for continued ownership
Assess whether to grow, combine, capitalise, reposition or realise each interest as performance, readiness and market conditions change.
Commit capital against evidence
Agree what funding will achieve, the milestones it supports and the limits of the commitment. Continue, change course or stop on evidence.
Use AI to change the economics
Design workflows, decisions, roles and technology together from AI-native first principles, then scale what works across the group.
Coordinate business change
Give the Group CEO a clear mandate to align business and capability plans, resolve competing demands and orchestrate strategic programmes.
GROUP CAPABILITIES
Build once. Benefit together.
Centralise only where portfolio economics justify it.
01Finance
Capital, control & economics
Group-owned responsibilitiesCapital allocation, portfolio performance, investment cases, cash, valuation, transaction economics, standards and control. Finance creates one economic view and validates expected and delivered value.
Stays close to the businessEmbedded business finance supports local decisions, business partnering and P&L delivery.
02Technology
Platforms & shared capability
Group-owned responsibilitiesCommon platforms where economically justified, architecture, engineering capability, infrastructure, cybersecurity, AI enablement and data foundations. The future ownership or sourcing of these services remains a separate decision from their importance.
Stays close to the businessBusinesses consume services against agreed economics and roadmaps while retaining product and commercial outcomes.
03Marketing
Federated by design
Group-owned responsibilitiesMedia buying, martech, CRM platforms, agencies, procurement, creative production and specialist capability where shared scale improves effectiveness.
Stays close to the businessBrand, proposition, customer strategy and commercial outcomes remain with business leadership.
04Data / AI
AI-native operating design
Design future operating models from customer outcomes and business economics, then rethink workflows, roles, decision rights and technology around what people and AI can achieve together. BLUEBIRD exemplifies this ambition.
Design across the group. Deliver within the business.Data / AI provides trusted foundations and evaluation standards; business leaders own adoption, customer outcomes and day-to-day trading.
Group capabilities serve Travel and Golf. Staysure Group is a business within the Travel vertical; it is not the parent of Holibob or the Golf businesses.
03 / THE HOWSAM BUSINESS SYSTEMMake the important
Make the important
things happen.
HBS / FIVE DISCIPLINES
The Howsam Business System is the common management system through which group ambition becomes vertical objectives, business commitments and measurable progress.
It gives the Group CEO a complete view of value creation across Travel, Golf, other interests and shared capabilities, so the group can sequence delivery, understand dependencies and make better decisions about what to prioritise, stop or defer.
01 / CHOOSE WHAT MATTERSWhere will we make
Where will we make
the biggest difference?
Translate group ambition into two focused vertical strategies and clear value creation plans for the businesses within them.
From principle to practice
- Set a clear value creation case for Travel, Golf and each business within them.
- Test build, buy, partner, retain and realisation decisions against strategic fit, capital and capacity.
- Keep other interests on a separate, value-led path towards the right exit timing.
THE OUTPUT
One group plan with explicit choices about what deserves capital and attention.
02 / CONNECT AMBITION TO ACCOUNTABILITYWhat will success
What will success
actually look like?
Objectives and key results connect group ambition to Travel and Golf, then to businesses, programmes and teams. Shared capability OKRs link to the outcomes they enable.
From principle to practice
- Every key result has a baseline, target, accountable owner, date and evidence source.
- Priorities flow down; results, constraints and learning flow back up.
- Finance validates financial value and benefits are not double counted across a vertical.
THE OUTPUT
Clear commitments at every level, with a visible contribution to the group.
03 / SEQUENCE WORK TO SUCCEEDWhat must happen first,
What must happen first,
and what can wait?
The Group CEO integrates business plans, capability plans and strategic programmes such as SKY and BLUEBIRD. Choices are made collectively so dependencies and capacity are visible before work is committed.
From principle to practice
- Agree priorities and trade-offs with business and capability leaders.
- Sequence delivery around shared teams, dependencies and the capacity needed to run the businesses.
- Resolve blockers and explicitly prioritise, stop or defer work as evidence changes.
THE OUTPUT
A realistic delivery sequence that moves important work forward without overloading the businesses.
04 / DESIGN FROM FIRST PRINCIPLESHow would we design
How would we design
the business today?
Use AI-native first principles to design operating models from customer outcomes and target economics, then turn the blueprint into an accountable transition.
From principle to practice
- Design workflows, roles, decision rights, data and technology together.
- Define where AI can execute, where people exercise judgement and who remains accountable.
- Use shared foundations and evaluation standards while business leaders own adoption and operating outcomes.
THE OUTPUT
An AI-native operating model blueprint, transition plan and measurable value creation.
05 / FOLLOW THE VALUEIs the investment
Is the investment
delivering its promise?
Connect delivery to customer outcomes, operating performance, cash and returns. Test actual benefits against the case for investment and the readiness of other interests for exit.
From principle to practice
- Track expected and delivered value against baseline, target, owner and timing.
- Review capital, cash requirements, delivery evidence and capacity together.
- Recommend where to invest, stop, defer, retain or realise value.
THE OUTPUT
Better decisions about what to back, improve, retain or exit.
ONE CONNECTED VIEWFrom group ambition
From group ambition
to measurable progress.
The Group CEO integrates commitments, challenges performance and resolves priorities. Business leaders own day-to-day trading; functional leaders retain domain authority.
GROUP
Ambition & value creation goals
The outcomes the group chooses to pursue together.
PRIORITIES DOWN · EVIDENCE & CONSTRAINTS UP
TRAVEL & GOLF
Vertical objectives and plans
Coordinated direction for each core vertical.
COMMITMENTS DOWN · RESULTS & LEARNING UP
BUSINESSES
Connected business OKRs
Named owners, shared outcomes and clear contributions.
WORK DOWN · RESULTS UP
PROGRAMMES & TEAMS
Sequenced work. Measured outcomes.
Delivery linked to dependencies and available capacity.
PROPOSED SOFTWARE PLATFORMOne place to see
One place to see
the whole portfolio.
A shared view designed to connect investment decisions to delivery, cash requirements and results.
- Investment
- Capital and people committed
- Expected value
- Benefit, baseline, target and timing
- Delivered value
- Actual results, forecast and evidence
- Accountability
- Linked OKRs and named owners
- Dependencies
- What each commitment relies on
- Capacity
- Shared resources and delivery sequence
STRATEGIC PROGRAMMES · EXAMPLES
- SKY
- BLUEBIRD
PROPOSED VALUE CREATION FUNCTIONThe discipline behind
The discipline behind
the decisions.
Led by the Group CEO, this function maintains the whole value creation view, coordinates strategic programmes and integrates commitments across businesses and Group capabilities.
Make the value clear
Bring investment cases, OKRs and benefits into one view, with Finance testing expected and delivered value.
Connect the work
Map dependencies, test capacity and sequence delivery across Travel, Golf and shared capabilities.
Keep decisions moving
Run the performance cadence and support accountable leaders to prioritise, stop, defer or recover work. Corporate Development coordinates transaction readiness and execution.
PROPOSED PORTFOLIO GOVERNANCE
Portfolio Board
Guardrails for entrepreneurial ownership.
The proposed Portfolio Board reviews performance, funding requirements, portfolio fit and delivery capacity, creating clear points at which to invest further, change the plan, capitalise differently or pursue a value-led realisation.
Decisions across the ownership cycle
- Invest
- What return, risk and funding requirements support the case?
- Further funding
- What did previous funding deliver, what milestone does the next commitment support and what are the alternatives?
- Retain & develop
- Does the ownership case still hold and does the asset strengthen Travel, Golf or a relevant capability?
- Realise
- Would a full or partial sale create more value than continued ownership, considering readiness, timing and alternative uses of capital?
Clear contributions to each decision
- Group Executive Chairman
- Sets ownership ambition and capital direction; retains reserved approvals within agreed governance.
- Group CEO
- Brings the integrated group and vertical view, assesses value creation and recommends priorities.
- Group C-suite
- Tests financial, technology and capability implications within each function's mandate.
- Corporate Development
- Assesses partners, investors and exit options; leads transaction execution.
- Business leaders
- Own delivery within agreed commitments and surface funding gaps and dependencies early.
Quarterly review. Explicit decisions.
Record each decision, its rationale, funding limit, conditions, accountable owner and next review date. The proposed remit and delegated authority would be agreed with the relevant boards and shareholders.
COMMON BY DESIGN
One standard of discipline.
Connected OKRs. Investment and benefit definitions. Named owners. Leadership standards. Dependency and capacity reviews. Security and control. Evidence for decisions.
LOCAL BY JUDGEMENT
Accountability stays close.
Businesses own P&L, brands, customers, products and execution. Capabilities own their service commitments and contribution to shared outcomes.
BEFORE WE COMMIT Is the value clear? Is someone accountable? Do we understand the dependencies? Do we have the capacity—and what will we stop or defer?
04 / OUR PORTFOLIOTwo verticals.
Two verticals.
Focused ambition.
Related businesses brought together around the sectors that matter most, with other interests managed towards the right moment for realisation.
01 / CORE VERTICAL
Travel
Two businesses connected by travel customers, technology and operating improvement.
Staysure Group
A family of specialist insurance brands, combining customer understanding, distribution and technology.
Role in the proposed model
Enterprise leadership owns business performance. Portfolio design connects growth, customer experience and operating improvement.
Holibob
Technology connecting travel brands, destinations and operators with bookable experiences.
Role in the proposed model
Business leadership retains product and customer accountability, drawing on shared expertise where it accelerates value.
02 / CORE VERTICAL
Golf
Businesses and interests connected by the game, its audiences and the experiences around it.
Legends Tour
Professional golf, playing experiences and partnerships connecting the game with its audiences.
Role in the proposed model
C-suite and Directors retain operating accountability, with collaboration shaped by the relevant governance and value case.
Legends Resorts
A proposed Golf vertical interest. Further description remains subject to verified business information.
Role in the proposed model
Business identity and operating accountability remain distinct while the vertical strategy is developed.
Duca del Cosma
A distinct golf consumer brand with its own product and commercial priorities.
Role in the proposed model
Business leadership retains brand, customer and operating accountability. Shared capability is designed around its growth priorities.
Build the core.
Recycle with discipline.
BuildBuyPartnerRetainRealise
Our long-term focus is Travel and Golf. We will continue to develop these businesses and consider opportunities that strengthen the two verticals. Other investments will be managed towards exits when readiness, market conditions and terms support the best achievable value. Decisions on realised capital will follow the group's agreed priorities.
Illustrative strategic direction. Grouping businesses into a vertical does not establish a legal merger, ownership percentage, common regulated entity or implemented reporting structure.
05 / LEADERSHIPClear mandates.
Clear mandates.
One direction.
A Group Executive Chairman sets the destination. One Group CEO integrates the group and directly leads the small C-suite and every business CEO.
OWNERSHIP & OVERSIGHT
Group Executive Chairman
Long-term ambition and strategic direction
Sets the group's long-term ambition and strategic direction, with Travel and Golf at its centre. Chairs the Board, champions key relationships and provides oversight and challenge to the Group CEO.
Decision rights
Reserved capital, ownership and transaction decisions remain subject to agreed Board and shareholder approvals.
GROUP LEADERSHIP & VALUE CREATION
Group CEO
Strategy, performance and portfolio integration
The Group CEO turns the group's ambition into strategy, performance and measurable value creation across Travel and Golf. Directly leads every business CEO and the Group C-suite, runs the Howsam Business System and directs portfolio integration and strategic programmes.
Mandate & decision rights
Leads organisational design, connected OKRs, the Value Creation function and the portfolio performance cadence. Aligns strategic programmes and shared capabilities with each vertical's priorities, balancing investment, expected value and delivery capacity.
Sets executive priorities and operating standards within approved strategy, makes delegated resource and investment decisions, and recommends matters reserved for the Board or shareholders. Business CEOs retain responsibility for P&L, customers and execution; the Group CEO remains accountable for overall group performance and timely intervention.
GROUP C-SUITE
Finance · Technology · Marketing
Small executive team reporting to the Group CEO
Provides financial discipline, shared technology and specialist marketing capability across Travel and Golf. Each function owns agreed delivery commitments and measurable outcomes.
Decision rights
Resources are shared where the economics justify it, while businesses retain their brands, customer propositions and operating accountability. Data / AI remains part of shared technology and operating-model design.
BUSINESS EXECUTION
Business CEOs & Leadership Teams
Every business CEO reports to the Group CEO
Business CEOs report directly to the Group CEO and own P&L, day-to-day trading, customers, operations, people, proposition and execution. They contribute to vertical plans and group outcomes while retaining accountability for business results.
Decision rights
Make business decisions within approved plans, capital limits and governance. Shared capabilities support the businesses; they do not become a reporting line for business operations.
AUTHORITY FOLLOWS THE MANDATE
Group ambition sits above the executive system. The Group CEO integrates the whole. Corporate Development and Value Creation operate as CEO-led disciplines, while business leaders retain P&L and day-to-day accountability.