In a trading update covering the period from 1 October 2022 to 27 January 2023, the group said it would "significantly" increase investment across the brand to help it build momentum for the second half of the year.

Although the OTA’s first quarter is historically its quietest trading period, the group’s transaction value (TTV) for October, November and December 2022 exceeded the same period a year earlier.

The company’s bookings since the Christmas period, meanwhile, have "materially increased", while its TTV since the start of the financial year to date is up 68% against the equivalent period in its 2022 full-year.

Simon Cooper, chief executive of On the Beach Group, said: "It’s been pleasing to see the key trends we observed throughout FY22 continue into FY23, especially into our key booking period, which has resulted in group TTV growing 68% against our prior year.

"We are significantly increasing investment in our brand, technology and customer proposition to capitalise on this momentum and grow our market share."