The agent consortium posted a net loss of £327k for the 2020/21 financial year, in contrast to a pre-tax deficit of £1.6m for 2019/20. 

Net assets for the group were reported at just under £5.1m. 

Advantage claimed its ability to adapt quickly to changing situations and board strategy to prioritise "key interests and concerns" of its members, ensured the business was able to provide “the best possible practical help and advice”.

The consortium welcomed 17 new members during the year, with a combined added turnover of £55m. 

Advantage Travel Partnership chair Steven Esom said: “When our last financial year concluded we were experiencing the first signs of the easing of Covid international travel restrictions. The outlook was far from certain, and we knew it would take time and a good degree of skill to navigate ourselves into calmer waters.
 
“We also knew that we had to make some very tough decisions to ensure that Advantage remained financially sound and was able to invest in the business as we came out of the pandemic.

“During the year the membership has shown remarkable resilience to stand up and face the challenges caused by the pandemic. Whilst we have sadly experienced some member failures, we have also been able to recruit new members into the organisation.”

Esom said the pandemic had seen Advantage management become “laser-focused’ on how the business is run and stakeholders are looked after.

“The unerring support of our members has meant so much to the Advantage team and to the board and we are enormously grateful for their continued support and confidence,” he added.

Advantage Travel Partnership chief executive, Julia Lo Bue-Said, said the profile of the consortium, travel agents and the wider trade had “increased exponentially”, adding how she had used that seat at the table to “help drive change for the future of our industry and our members”.
 
“As we move forward through 2022, we have reflected the post pandemic business environment in our refreshed strategy which will continue to build a stronger and united Advantage group, focused on the key interests and concerns of our members,” added Lo Bue-Said. 

“We have adopted new ways of working which will bring greater flexibility and ensure that we can recruit and retain the best skills and talent. We will continue to speak out for our members as well as look to further strengthen our collective voice and stature as one of the leading groups of independent travel businesses globally for both business and leisure.”