Online agency tops Sunday Times Fast Track 100 list
TravelRepublic.co.uk has topped The Sunday Times Virgin Fast Track 100 list just four years after the company was formed.
The online travel agency is listed as the UK’s fastest growing privately owned company with 284.23% annual sales growth.
Offshore services provider Oceanteam 2000 claimed second place with annual sales growth of 206.45%.
This is the first time a travel business has topped the list, with the previous best performances coming from Travel Counsellors (fourth in 1998), OctopusTravel.com (fourth in 2004) and Kew Green Hotels (second in 2006).
Hotel booking agency Alpharooms was at number 20 in this year’s list.
Kingston-upon-Thames based Travel Republic was set up in 2003 by three university friends – Paul Furner, managing director, Chris Waite, IT director and Kane Pirie, finance and operations director. Furner’s brother Peter was also one of the original founders but left earlier this year following a management buy-out.
TravelRepublic.co.uk’s sales have increased from £2.8 million to £108 million since its launch, with turnover of more than £200 million expected in the current financial year. The company employs more than 150 staff.
Paul Furner said: “We are delighted with this recognition which is an incredible reward for the creativity and hard work of everyone who works for the company.
“Chris, Kane and I met at university but then followed very different careers – Chris in software development, Kane in corporate finance/private equity and me in software quality assurance. These differing backgrounds, all outside of the travel industry, have allowed us to take a fresh new look at the sector and become one of its leading innovators.
“However, equally important has been our commitment, from the outset, to deliver gold standard customer service to our customers. At a time when it is often said that there is no loyalty on the web we would beg to differ. Our levels of repeat and recommended business suggest that we have a real affinity with our customers which we plan to build upon in the coming months.”
Alpharooms, which employs more than 80 staff, processes over 150,000 accommodation bookings worldwide each year, with sales totalling £5,522,000.
Managing director Jason Fry said: “We have had an incredible year and being named 20th in the Fast Track 100 is a fantastic way to end 2007.
“The growth of the company has seen us strengthen our team in Sheffield from a staff of just 20 in 2004 to more than 80 people, and this accolade is testament to the hard work of the entire team.”
Sir Richard Branson, founder and chairman of the Virgin Group, sponsors of the Fast Travel 100, commented: “For Virgin, a group so steeped in travel and tourism, it is gratifying to see Travel Republic claim top spot in this year’s table.”
The Sunday Times Virgin Fast Track 100 ranks Britain’s 100 private companies with the fastest growing sales over the last three years.
by Phil Davies
Phil Davies
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