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Travel industry news

08 Apr 2019

BY Gary Noakes

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Loveholidays heads Top 100 profits list

Loveholidays has topped a list of Britain’s top 100 private companies with the fastest-growing profits.

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Loveholdays heads profits league days after increasing Atol

The budget online brand headed The Sunday Times Profit Track 100 list of companies based on accounts from the past three years, when Loveholidays registered a 191% rise in profits. It made £13.35 million on turnover of £64.4 million in the year to October 2018.

 

The brand was valued last year at £180 million after private equity firm Livingbridge acquired a minority stake.

 

The accolade comes days after it was revealed Loveholidays had increased its Atol for the coming 12 months by 53%. The online budget brand is licensed for sales of 1.2 million, compared with 805,000 in the past 12 months, and is now the fifth-largest Atol holder.

 

Loveholidays chief executive Alex Francis said: “We are delighted to feature in the top spot of this list of the 100 private companies with the fastest growing profits in the UK.

 

“This is a great achievement for the Loveholidays team who continue to sell, develop and grow our business and follows on from recognition in other high-profile league tables including the top 10 of The Sunday Times Fast Track 100 for two consecutive years.

 

“Our unique ‘discovery search’ technology has helped to drive our growth by enabling us to act both as a travel advisor as well as a booking platform offering our customers tailored holiday suggestions within their own budget.”

 

Love Holidays is joined in the Profit Track 100 by three other travel brands.

 

ATD Travel Services (Attraction Tickets Direct) was 23rd in the table. Its profits rose 88% and, in 2017, reached £4.4 million on turnover of £16 million. ATD was founded by Olly Brendon in 2002 with a £10,000 loan from his parents.

 

At 71st place, business travel specialist Click Travel saw a 64% increase in profits. It recorded a profit of £5.9 million in the year to March 2018. Last year, private investment firm BGF acquired a minority stake for an undisclosed sum.

 

Dorchester Collection, the Sultan of Brunei’s hotel brand, made a 2017 profit of £26.9 million on turnover of £384 million. Its increase of 59.6% put it in 86th position. Dorchester Collection is currently embroiled in protests after the Sultan passed a law that could mean gay people in Brunei being stoned to death.

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