The company has also seen a 25 per cent increase in direct debit adoption in the last quarter
The Travel Franchise is predicting a 340 per cent year-on-year increase in sales during peaks (January-March 2023) and a 440 per cent rise compared to pre-COVID peak sales (January-March 2020).
Peaks are the periods during the first three months of the year and are traditionally the busiest months for the travel industry.
Following investment and an increased focus on selling lucrative cruise holidays, the homeworking travel consultancy also expects cruise sales to reach an all-time high during peaks, with cruise sales expected to triple in the next 12 months.
Based on current trends, cruise bookings will increase from 12 per cent of all sales (before the September launch of the company’s cruise division, including its Cruise Mastery programme), to 25 per cent of all bookings in January 2023. Sales will grow as a result of the company attracting a whole raft of new cruise clients and generating new bookings, as opposed to switching clients to cruise holidays.
Average booking values will also remain very high at £3,700 per booking. By the end of this year, the company’s holiday sales will be more than double last year’s, as well as 2019 sales figures. Soaring sales are through organic growth as the company undergoes a £2.4m expansion across its new business development team, training team, cruise team and marketing teams. The impact of these new team members is yet to be reflected in sales but will be in full effect by the peaks period.
The company has also seen a 25 per cent increase in direct debit adoption in the last quarter, with more clients booking more expensive holidays 12-24 months in advance and spreading out payments monthly at no extra cost.
Paul Harrison, co-founder of The Travel Franchise, said: “The travel industry continues unabated. UK consumers may be cutting back on other items, but it is clear that holidays are non-negotiable. No matter what people read in the news, the one thing they look forward to is a holiday.
“It’s treasured time with loved ones that keep people going throughout the humdrum and turmoil of daily life. Consumers are willing to make other sacrifices before their holidays. We are seeing the evidence of this right now with clients booking both last-minute breaks and holidays for next year and beyond. As a result, our members are enjoying soaring profits.”