Tech platform for travel entrepreneurs accelerates towards £1bn with acquisition

Travel Counsellors, a fast-growing, Manchester based technology platform for travel entrepreneurs, has announced the strategic acquisition of Holidaysplease Limited for an undisclosed sum.

Birmingham based Holidaysplease is an award-winning online travel company with approximately 100 home-working travel experts, 50 franchisees, and around 50 employees. Holidaysplease generated Total Transaction Value (TTV) of more than £40m in 2022.

The acquisition strengthens Travel Counsellors’ position as the “UK’s largest” technology platform for travel entrepreneurs empowering and connecting nearly 2,000 independent business owners.

It also builds on the Company’s “exceptional growth” and strategic progress over recent periods highlighted by its record financial performance in 2022 when TTV on the Travel Counsellors platform increased to more than £700m, representing growth of more than 300 per cent against the prior year.

The deal marks Travel Counsellors’ first acquisition in its near 30-year history and comes hot off the heels of the Company’s record best ever month in January 2023, where it generated £114m of sales on its platform supported by strong consumer demand for top selling destinations such as the USA, Spain, Greece, UAE and the Maldives.

Steve Byrne, CEO of Travel Counsellors.

This represented a 50 per cent increase on the January prior to the pandemic and meant the company traded 65 per cent up on pre-pandemic levels in Q1 of its new financial year (November 1 2022 to January 31 2023).

In addition, Travel Counsellors generated £86.3m of sales in February 2023, with a 22 per cent increase on February 2022 marking its “best February ever”. Combined sales for January and February 2023 total over £200m. The acquisition supports Travel Counsellors momentum as it accelerates towards generating £1bn+ of platform sales in FY23.

Travel Counsellors was advised on the transaction by Springboard Corporate Finance, Hazlewoods Corporate Finance, and Hill Dickinson whilst Holidaysplease was advised by Jerroms Accountants and Squire Patton Boggs.

Steve Byrne, CEO of Travel Counsellors, commented: “We are delighted to have acquired such a highly regarded, fast-growing and profitable business with a hugely complementary strategic fit. Our strategic goal is to build a community of the very best travel entrepreneurs who are empowered by our technology to deliver exceptional customer experiences.

“Both businesses share outstanding momentum having each delivered exceptional growth in 2022 as well as record-breaking performances in January 2023, when Travel Counsellors achieved TTV of more than £110m while Holidaysplease recorded the most successful month of trading in its 20-year history.”

By Matthew Neville – Senior Correspondent, Bdaily

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