Tourico Holidays Continues Growth in Emerging Markets with Strong First Half of 2015
Tourico Holidays, a global leader in wholesale travel brokerage, today reported financial results for its first half of fiscal year 2015, highlighted by major double-digit gains in emerging markets such as Latin America and Asia Pacific. The company was also recently named to the 2015 Inc. 5000 list of fastest-growing private companies with headquarters in the United States.
"Tourico Holidays has continued to build on our rapid success by further investing in distribution technology, supportive personnel for our partners, and by aggressively pre-purchasing massive product blocks for our clients," said Uri Argov, Founder and CEO of Tourico Holidays. "While some of our 2015 growth percentages may seem relatively modest, it's important to understand the scale at which we're working and the growth of our marketplace in general. Year-over-year, Tourico continues to outperform industry expectations through innovation, and continues to cement its place as the leading wholesale travel provider in the world."
In March, the travel brokerage company announced the launch of a transparent, real-time Group Bidding Engine that allows clients to submit highly-specific group reservation requests that selected hotels have a 24-hour window to bid on. In the same month, Tourico became the first travel wholesaler to pre-buy activities and attraction tickets from key suppliers. In June, Tourico announced that it had pre-purchased 47,000 room nights at the Hyatt Regency Paris Etoile and 44,000 at the Grand Hyatt New York – providing clients exclusive access and pricing to high-demand rooms.
The results of the investments can be seen in the company's emerging markets. After two financial quarters, Tourico has recorded a 55% year-over-year increase in confirmed revenue, and a 51% year-over-year increase in confirmed room nights to Latin America. The company has also increased confirmed year-over-year bookings by 23% and room nights by 20% from Asia Pacific markets.
As a result of its consistently strong performance over the last few years, Tourico Holidays has been named to Inc. magazine's list of the 5000 fastest-growing private companies in the U.S. for the fourth time and has the highest revenue numbers out of those listed in the travel category.
"It's always an honor to be named amongst the best performing companies in the country," Argov said. "But we're equally as proud to say that we employ over 620 people around the globe, support over 4,900 travel distributors across 100 countries, and offer best-in-class, 24/7 customer service."
About Tourico Holidays
Tourico Holidays is a leading global travel distribution company that contracts directly with travel providers, such as hotels, flights, cruise lines, attractions, car rentals, vacation homes and more. Tourico Holidays works on a high-volume, wholesale model to broker this inventory to over 4,900 clients in 100 countries using proprietary technology.
Pete Bahrenburg, 802-497-1932