Travel Counsellors have witnessed remarkable financial success with annual profits soaring by 64% in the year to October 2023.
- The agency’s total transaction value escalated by 31% to £941.6 million, attributed to record-breaking results in both B2C and corporate business sectors.
- Incorporating new technology and strategic acquisitions, the company has significantly expanded its network and capabilities.
- The dedication of over 2,000 franchisees has been pivotal in sustaining the continuous growth momentum.
- Top-performing destinations include experiential locations such as Thailand, Japan, and Sri Lanka, among others.
The annual financial performance of Travel Counsellors showcases an impressive growth trajectory, with profits increasing by a striking 64%, reaching nearly £33 million by October 2023. This surge is primarily driven by an expansion in total transaction value (TTV), which rose by 31% to £941.6 million. The surge in TTV is reflective of stellar performances within the agency’s B2C and corporate business sectors, achieving unprecedented results.
Strategic initiatives and acquisitions have bolstered the agency’s position in the market. Notably, the acquisition of Holidaysplease brought 300 new agents into the fold, enhancing the company’s operational capacity. Further augmenting the company’s infrastructure, the tech platform Planisto, acquired in January, has empowered agency business owners to create and present sophisticated travel itineraries.
The agency’s workforce remains a crucial element of its success. More than 2,000 franchisees are actively contributing to the company’s sustained growth, with an additional 148 joining in the first half of the current financial year. This expansion reflects the persistent demand and the agency’s ability to attract and retain top talent.
Among the popular destinations for Travel Counsellors’ customers during this period are Thailand, Japan, and Sri Lanka. These, alongside perennial favourites like the Middle East, Indian Ocean, US, and Mediterranean, form the backbone of its top-selling offerings. Cruises have also contributed significantly to sales.
The company’s chief executive, Steve Byrne, attributes this success to the agency’s strategic approach and its strong customer-centric focus. He emphasises the role of their ‘asset-light business model’ and excellent customer service, coupled with technologically advanced tools, as key factors in their ability to disrupt the travel market.
By maintaining strong customer satisfaction, as evidenced by their five-star Trustpilot rating, Travel Counsellors continue to demonstrate a commitment to service excellence. Investments in technology are seen as central to delivering high-quality service, ensuring the agency is well-equipped for future growth.
In conclusion, Travel Counsellors’ sustained growth and strategic initiatives position it well for future market opportunities.
