Intrepid Travel is poised to strengthen its global footprint with a strategic decision to appoint a Chief Impact Officer based in the UK or US.
The company’s UK market has shown unprecedented growth, marking it as the fastest-growing segment for Intrepid this year.
Intrepid’s Strategic Expansion in the UK Market
Intrepid Travel is making bold moves by introducing a new role of Chief Impact Officer, which will be based in either the UK or the US. This strategic decision comes as the company sees a substantial increase in its UK market growth, outperforming other regions. This marks a significant shift, as traditionally, such senior roles have been located in Australia or Asia. The new role’s responsibilities will include managing aspects under ‘purpose’ and ‘impact’ such as advocacy, legislation, and decarbonisation in line with the company’s ambitious United Nations Global Compact Faster Forward initiative targets.
Unprecedented Financial Performance and Market Growth
In the first two months of 2024, the UK emerged as Intrepid’s fastest-growing market with a remarkable 29% increase in sales compared to the previous year. The company reports a financial turnaround, achieving a net profit of £11.2 million in 2023, a significant recovery from a net loss of £13.3 million in 2022. This growth is attributed to the rising demand for sustainable and experiential travel, which aligns with Intrepid’s purpose-driven approach that has proven beneficial for its financial performance.
Why the UK? The Driving Factors
The decision to focus on the UK and the US markets stems from the growing demand for iconic, active trips and lower-impact holidays. Consumers in these regions are increasingly conscious of their carbon footprint and prefer responsible travel options.
James Thornton, Intrepid’s CEO, stated, “We are growing faster in the UK and the US, and the opportunities present larger potential for purpose-driven travel from these markets. As a global company, it’s important for us to strengthen our international presence.”
Intrepid’s Global Brand Campaign Success
Intrepid’s investment in its global brand campaign has been instrumental in raising awareness and driving sales in the UK market. The first prominent advertisements appeared in London in 2022, setting the stage for further global initiatives. This rise in brand recognition correlates with the increase in consumer bookings directly through Intrepid’s platforms, as well as through travel agents who are becoming more familiar with Intrepid’s unique style of travel offerings.
In response to increased familiarity and demand, the company invests further in enhancing its brand value worldwide.
The Role and Responsibilities of the Chief Impact Officer
This groundbreaking role is pivotal for Intrepid’s future, focusing on managing the company’s impact-related functions. These include establishing stronger advocacy frameworks, pursuing legislative initiatives for sustainable travel, and spearheading decarbonisation projects, all while ensuring alignment with the United Nations guidelines.
The establishment of this role outside of Intrepid’s traditional markets highlights their commitment to global sustainability goals and reflects the dynamic and evolving nature of the travel industry.
Trade and Direct Sales: A Balanced Strategy
A significant portion of Intrepid’s UK sales, 40%, stems from travel agents, while 60% are direct consumer bookings. This balanced mix supports the company’s growth strategy, offering flexibility and broader market reach.
Thornton remarks that Intrepid is satisfied with this mix and aims to expand its trade business, leveraging the growing familiarity among agents with their distinctive travel style. Such strategic initiatives are paving the way for sustainable growth.
Opportunities Ahead in the UK Market
The UK market continues to show exceptional potential for growth, driven by consumer trends towards sustainable travel and increased brand engagement. As Intrepid plans to fill the Chief Impact Officer position by summer, this move underscores their commitment to enhancing their impact on the industry and supporting further expansion in this key market.
The future looks promising for Intrepid Travel as it embarks on this strategic journey to bolster its presence in the UK. By appointing a Chief Impact Officer, the company is setting the stage for future growth and sustainability, supporting its mission to lead the travel industry with purpose and impact.
