Travel Counsellors hits record results as appetite for holidays returns
The strong post-pandemic appetite for holidays has enabled Travel Counsellors, the Manchester-based holidays group, to hit record annual results, performing significantly ahead of pre-pandemic levels.
Total Transaction Value (TTV) for the year to October 31, 2022, was £719.4m1, 312% higher than the prior year and significantly ahead of pre-pandemic levels of £631m.
Revenue increased significantly by 411% year-on-year to £347.8m, EBITDA increased significantly to £20.1m, compared with a £6.8m loss the previous year, reflecting the impact of the pandemic.
Staffing increased by 149 staff during the reporting period, taking the total headcount to 1,800.
The business reported continued strong momentum into the current financial year with trading 64% higher in the first half, to April 2023, with top-selling destinations including the USA, Spain, Greece, UAE, and the Maldives.
There has been consistent record-breaking months in each of the first six months of the new financial year with TTV in the year to date of £486m, up 64% on 2019 pre-pandemic levels.
Travel Counsellors completed the acquisition of Holidaysplease in March this year, marking the company’s first acquisition in its near-30-year history and strengthening its position.
Chief executive, Steve Byrne, said: “FY22 was a record year for Travel Counsellors as we delivered significant growth across the business against both the prior year and pre-pandemic levels.
“This outstanding momentum has continued into the first six months of the current financial year, as we have delivered consistently record-breaking months. Our strong results once again demonstrate the strength of our differentiated, disruptive business model as well as growing customer demand for our trusted and personal travel advice.”
He added: “We went into the pandemic with outstanding levels of customer engagement and satisfaction. Whilst the pandemic significantly disrupted our customers’ ability to travel, we were resolutely committed to maintaining close relationships with them and protecting our brand’s hard-earned reputation.
“I am delighted we have maintained our five-star Trustpilot rating despite the significant levels of disruption and uncertainty facing our customers during this period.
“I am extremely confident that we are exceptionally well placed to further build on our significant growth over the coming years. We are focused on continuing to disrupt the travel market through superb, personalised service and our scalable, relevant and differentiated business model.
“We are accelerating rapidly towards being a £1bn+ transaction platform in the near future and look forward to serving more customers and helping more travel entrepreneurs to grow their businesses in the years ahead.”
