The Inspiring Travel Company, a maker of bespoke luxury holidays which is backed by private equity firm North Edge Capital, has boosted revenues by 13 per cent during a year of robust growth.
The Cheshire-based travel group featured in the BBC documentary The Millionaires’ Holiday Club, which provided a behind-the-scenes look into the world of luxury travel. This significantly raised the firm’s profile and helped it to achieve revenue of GBP92 million in the year to April 2017 – up from GBP81m the previous year. Profits also grew to GBP4.3 million from GBP3.9 million over the same period.
NorthEdge Capital acquired a majority stake in the company in August last year and backed the management team, which is led by Jennifer Atkinson.
The company says much of its growth was down to an increase in repeat bookings from high-net-worth customers. The Inspiring Travel Company, which was set up in 1974, operates at the top end of the luxury travel market with the average spend of a single holiday standing at GBP15,000. This year, the firm’s largest booking was over GBP300,000.
Atkinson, CEO, says: “We have developed a strong and loyal customer base who repeatedly turn to us to create experiences in some of the world’s most exclusive destinations. Much of the growth has been down to the hard work of our travel specialists who have the passion and enthusiasm to make sure that every client’s holiday is the best it can possibly be.
“Partnering with NorthEdge has enabled us to remain focussed on our core business strategy of providing luxury holidays. The firm’s ongoing support will be invaluable as we look to identify further strategic acquisitions and explore new markets including ski holidays and luxury villas. I am confident that the year ahead will be just as strong and we’re excited about further growth.”
Phil Frame, investment director at NorthEdge Capital and non-executive director at the Inspiring Travel Company, adds: “Jen and the rest of the management team have done a fantastic job in carving out a niche at the top end of the luxury travel market. The business has performed well despite uncertainty surrounding Brexit and poor exchange rates, so we look forward to strengthening the offer even further as market conditions become more favourable.”
The business, which was the first travel company to charter Concorde and employs 65 travel specialists, completed 12,000 bookings in the last financial year. It also operates a number of other sister brands including Western & Oriental, Rainbow Tours, Villa Select, Regent Holidays, ITC Sports Travel and Horse Racing Abroad.
