BBC documentary boosts ITC earnings
The Inspiring Travel Company saw revenues rise 13% to £92 million last year when it featured in a behind-the-scenes BBC documentary, The Millionaires’ Holiday Club.
Profits for the year to the end of April were also up from £3.9 million the year before to £4.3 million.
The Cheshire-based travel group said appearing in the TV documentary about the world of luxury travel had ‘signficantly’ raised its profile.
The company is backed by NorthEdge Capital, a mid-market private equity firm, which acquired a majority stake in the tour operator last August.
The 42-year-old company said much of its growth was down to an increase in repeat bookings from high-net-worth customers who spend an average of £15,000 on a single booking. This year, the firm’s largest booking was over £300,000.
CEO Jennifer Atkinson said: "We have developed a strong and loyal customer base who repeatedly turn to us to create experiences in some of the world’s most exclusive destinations.
"Much of the growth has been down to the hard work of our travel specialists who have the passion and enthusiasm to make sure that every client’s holiday is the best it can possibly be.
"Partnering with NorthEdge has enabled us to remain focussed on our core business strategy of providing luxury holidays. The firm’s ongoing support will be invaluable as we look to identify further strategic acquisitions and explore new markets including ski holidays and luxury villas.
"I am confident that the year ahead will be just as strong and we’re excited about further growth."
Phil Frame, investment director at NorthEdge Capital and non-executive director at the Inspiring Travel Company, added: "Jen and the rest of the management team have done a fantastic job in carving out a niche at the top end of the luxury travel market.
"The business has performed well despite uncertainty surrounding Brexit and poor exchange rates, so we look forward to strengthening the offer even further as market conditions become more favourable."
The business, which was the first travel company to charter Concorde and employs 65 travel specialists, completed 12,000 bookings in the last financial year. It also operates a number of other sister brands including Western & Oriental, Rainbow Tours, Villa Select, Regent Holidays, ITC Sports Travel and Horse Racing Abroad.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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