Tourico Holidays reports substantial revenue growth in Europe and Middle East
LONDON – Tourico Holidays shared fiscal results reporting a 300 percent revenue increase in the past five years in Europe and the Middle East. Tourico now has over 10,000 hotel partners in the EME region and demand for the company’s unique pre-purchased hotel rooms, or “ExclusiveDeals”, continues to grow – with bookings increasing 25 percent year-over-year in EME.
Travel from the United States to EME is a driving force in the market’s success. The U.S. accounts for 11 percent of the total travel market in EME and Tourico’s data shows it has increased 20 percent year-over-year in 2016. The United Kingdom also accounts for 11 percent of the EME total market share, but is growing at 8 percent year-over-year. India and Germany each make up less than 5 percent of the total market, but are both growing by more than 10 percent YoY.
“The European, Middle East travel market is one of the most stable in the world and many of its biggest source markets – like the U.S. and U.K. – are actually increasing their demand,” said Mark Redmond, Vice President of the European Region for Tourico Holidays. “For example, after Brexit was announced we forecasted a 30 percent growth in UK room nights. Today, we’re predicting an even greater increase of 41 percent. In such a reliable travel region, we’ve continued to partner with more hotels and now have over 10,000 hotel options in Europe and the Middle East.”
Hotels are at the core of Tourico’s business, driving the company’s 300 percent revenue growth in EME over the last five years. However, the wholesaler has also greatly bolstered its ancillary inventory and bookings as well. Tourico now has over 3,000 different activities in the region and has increased its inbound EME activity bookings by over 375 percent in the last five years. In 2016, North America has increased its activity bookings to EME by 117 percent.
Tourico’s car rental inventory in Europe is also growing at an unprecedented rate. The company has direct-connect partnerships with SIXT, Hertz, Avis, Budget, Alamo, Enterprise, National and many smaller rental providers. By January 2017, Tourico will also have direct-connects with Eurocar and Keddy. Tourico clients have already booked more than 50,000 rental days in Europe in 2016 and U.S. car rental bookings to Europe have increased by 120 percent year-over-year.
“Two decades ago, Tourico’s business model was focused exclusively on American hotels,” Redmond said. “Today, we’re a global company that’s enabling EME supplier partners like Nordic Choice Hotels, Evan Evans Tours, and Hyatt Regency Paris reach their true potential.”
Tourico Holidays has doubled its resources in Europe and Middle East in the past 18 months – with over 70 employees stationed throughout the region.
Tourico Holidays will be exhibiting its comprehensive lineup of travel offerings – including hotels, cruises, activities, car rentals, and vacation homes – at the World Travel Market from November 7th to the 9th.