Travel Weekly has launched its annual Power List for 2023, revealing the world’s greatest sellers based mostly on full-year 2022 journey gross sales.
While final yr’s checklist noticed a serious restoration for leisure journey within the wake of the COVID-19 disaster, this yr’s Power List means that enterprise journey can also be within the midst of a big bounce again.
With gross sales numbers booming, Travel Weekly restored the normal $100 million international gross sales threshold for companies for the primary time for the reason that pandemic was declared in 2020.
The prime 5 firms retained their order from final yr however greater than a dozen companies entered the checklist for the primary time. In complete, 61 firms made the 2023 Power List. Here’s a have a look at the highest 20 and the place they stand proper now.
1. Booking Holdings
Booking Holdings, which is inclusive of manufacturers comparable to Booking.com, Priceline, Agoda, Rentalcars.com, Kayak and OpenTable, held regular at primary this yr, with 2022 gross sales topping $121 billion, up considerably from $76.6 billion in 2021.
2. Expedia Group
Expedia Group stays the second-most-powerful journey company in 2023 with gross sales of $95.1 billion final yr. The on-line journey company boasts a slew of well-known manufacturers together with Expedia, Hotels.com, Orbitz, Travelocity, Vrbo, Trivago and Hotwire.
3. American Express Global Business Travel
American Express Global Business Travel, which went public in May, additionally held regular at quantity three on the Power List with 2022 gross sales of $23 billion. Looking forward, Amex GBT is anticipating a 24 p.c development in enterprise journey spend.
4. BCD Travel
BCD Travel, a privately held B2B journey administration firm owned by BCD Group, ranks fourth but once more in 2023, with gross sales climbing from $6.5 billion in 2021 to $16 billion in 2022. The firm will enter a brand new period subsequent month when Stephan Baars will succeed President and CEO John Snyder, who spent three many years with the corporate.
5. CWT
CWT continues to rank because the fifth strongest journey company with 2022 gross sales of $13.6 billion. The privately held firm is owned by funds managed by international monetary establishments comparable to Barings, MacKay Shields and Monarch Alternative Capital and sells journey merchandise on to clients.
6. Flight Centre
With gross sales totaling $11.7 billion final yr, Flight Centre climbed one spot on the Power List to sixth after putting seventh final yr. Of its hefty gross sales complete final yr, $313 million was accomplished by hosted brokers. Flight Centre is eyeing development with the acquisition of U.Okay.-based Scott Dunn Travel and the enlargement of its New York workplace to function a middle for Corporate Traveler.
7. American Express Travel
American Express Travel, a full-service and way of life providers supplier for American Express cardholders, didn’t submit a Power List survey however produced an estimated $9.2 billion in gross sales in final yr, putting it ninth on the 2023 Power List.
8. Chase Travel Group
The Chase Travel Group was unranked a yr in the past however locations eighth in 2023 with reported gross sales of $8.5 billion in 2022, together with $644 million accomplished by hosted brokers. The privately held firm works with 800 unbiased contractors and final yr acquired Frosch, which completed No. 14 in Travel Weekly’s 2022 rankings.
9. Hopper
Hopper, which introduced a distribution cope with JetBlue final yr, climbed two locations to ninth this yr, totaling 2022 gross sales of $6 billion. The firm is clearly on the proper path as final yr’s gross sales tripled over 2021.
10. CTM
Corporate Travel Management skilled a little bit of a slip in 2023, falling from eighth to tenth with gross sales totaling $5.1 billion final yr. A Virtuoso member, CTM notes that early 2023 exercise reveals fast restoration in lots of international markets.
11. Internova
Internova additionally dropped two spots from final yr, rating eleventh with 2022 gross sales reaching $5 billion. Host company accomplished $2.8 billion of these gross sales. Moving ahead, Internova plans to double down on the luxurious class and spend money on ESG technique, with worker journey turning into carbon impartial by yr’s finish.
12. Direct Travel
Virtuoso member and Creative Group proprietor Direct Travel noticed 2022 gross sales attain $3.6 billion, a overwhelming majority of which was the results of enterprise journey. As it appears to be like to develop enterprise, Direct Travel is enhancing its AI providing by deploying a multilingual digital assistant and is transitioning extra duties to automation to permit journey advisors to spend extra time on vital help interactions.
13. Fareportal
Fareportal falls three spots on this yr’s Power List. The privately held firm, which operates manufacturers all through the world, promoting air tickets, accommodations, automobiles and trip packages, reported 2022 gross sales of $3.3 billion final yr.
14. AAA Travel
AAA Travel’s 2022 included the digitizing of AAA Tour Books, the launch of the Inspected Clean Program and Trip Canvass in addition to $3.2 billion in complete gross sales. Looking forward, is seeing pent-up demand for cruises, excursions and European locations in addition to robust home journey development, in keeping with the Power List.
15. World Travel Holdings
World Travel Holdings’ 2022 gross sales climbed to $1.6 billion. The privately held firm works with greater than 4,000 unbiased contractors and boasts a portfolio that features almost 40 manufacturers distributing cruises, villas, resort holidays, automotive leases, resort day passes and luxurious journey providers.
16. Navigatr Group
After being unranked final yr, Navigatr Group checks in at sixteenth on the Power List this yr with gross sales reaching $1.4 billion in 2022. The journey entity lately acquired Ensemble and rebuilt the consortium to maximise profitability for members. Unsurprisingly, Navigatr Group has large plans to broaden within the months and years to come back.
17. ATG
ATG, which focuses on enterprise journey administration, is increasing its attain into the Middle East with two franchise places of work in Qatar and Kuwait after reporting gross sales of $1.2 billion final yr. One of the corporate’s large 2022 developments included partnering with Squake to carry emissions visibility into the reserving and decision-making course of.
18. Arrivia
2022 was a busy yr for Scottsdale, Arizona-based Arrivia, which noticed gross sales complete $1 billion. The privately held firm acquired lodging platform RedWeek, rolled out a Next Generation expertise platform and streamlined all points of its core enterprise, amongst different issues.
19. World Travel
With 2022 gross sales reaching $951 million, World Travel is up one spot from final yr after its enterprise growth crew achieved 234 p.c of its purpose for brand new gross sales in 2022. Looking forward, the corporate is trending at 120 p.c of 2019 income and is anticipating seeing a continued significant restoration in company journey.
20. Cruise Planners
Cruise Planners is down simply two spots from final yr. The Signature Travel Network member, which works with 2,500 unbiased contractors reserving strictly leisure journey, reported 2022 gross sales of $845 million. Like so most of the companies on this checklist, the longer term seems brilliant for Cruise Planners, which has already surpassed 2019 gross sales by 22 p.c and 2022 gross sales by 13 p.c in 2023.
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Source: www.travelpulse.com”