Travel Weekly’s prestigious annual Power List has been released, showcasing the titans of the travel industry. This year’s list boasts a record-breaking 72 agencies, demonstrating the robust health and expansion within the travel sector. Despite an increased qualifying revenue threshold of $110 million, up from $100 million the previous year, the Power List 2024 has grown, adding 11 new companies compared to last year, highlighting the impressive growth of Top Travel Agencies worldwide.
The top six positions in the rankings remain unchanged from 2023, indicating the sustained dominance of these industry giants. However, Travel Weekly suggests a potential shake-up in the top rankings next year, pending the progress of American Express Global Business Travel’s (No. 3) acquisition of CWT (No. 5). This merger could significantly reshape the landscape of top travel agencies and their market share.
Agency survey responses collected during the Power List compilation process reveal a palpable sense of optimism and “strong buoyancy” across the travel industry. This positive sentiment underscores the resilience and adaptability of top travel agencies in a dynamic global market.
Here’s an in-depth look at the top 24 travel agencies from the 2024 Power List, ranked by their 2023 sales figures, providing insights into the leading players shaping the travel experiences for millions.
Top Performers in the Travel Agency Landscape
1. Booking Holdings
Maintaining its undisputed leadership, Booking Holdings once again tops the Power List. This publicly traded online travel behemoth, providing services across over 220 countries, reported an impressive $150.63 billion in sales for 2023. This marks a significant surge from their $121 billion revenue in 2022, solidifying its position as a top travel agency in the digital age.
2. Expedia Group
Alt text: Expedia Group logo, representing a leading online travel agency in the 2024 Power List.
Expedia Group firmly holds its second-place ranking, reporting $104.08 billion in sales for 2023. This online travel agency powerhouse encompasses a diverse portfolio of renowned brands, including Expedia.com, Hotels.com, Orbitz, Travelocity, Vrbo, Trivago, and Hotwire, catering to a wide spectrum of travel needs and preferences, making it a consistent leader among top travel agencies.
3. American Express Global Business Travel
Alt text: Modern office interior of American Express Global Business Travel, a top-ranked corporate travel agency.
American Express Global Business Travel secures the third position for another year, demonstrating its strength in the corporate travel sector. With $28.2 billion in sales for 2023, Amex GBT continues to be a dominant force in managing business travel solutions for global corporations and remains a key player in the top travel agencies list.
4. BCD Travel
BCD Travel retains its fourth-place ranking, achieving $20.3 billion in sales in 2023. This consistent performance underscores BCD Travel’s strong market presence and effective strategies in the competitive travel agency environment, reinforcing its status as a leading travel management company.
5. CWT
CWT maintains its fifth position in the Power List, with $15.8 billion in sales for 2023. As one of the largest travel management companies globally, CWT’s consistent ranking highlights its significant role in the business travel industry. The potential acquisition by American Express Global Business Travel could lead to significant shifts in the top travel agencies landscape in the coming years.
6. Flight Centre
Flight Centre reported $15.2 billion in sales for 2023, a notable increase from $11.7 billion in 2022. This publicly listed travel company, with brands like Flight Centre leisure travel, Corporate Traveler, and FCM, demonstrates robust growth across both leisure and corporate travel sectors, solidifying its position among the top travel agencies.
7. Chase Travel Group
Chase Travel Group, part of JPMorgan Chase & Co., advanced one position to seventh place, with $10 billion in sales for 2023. This growth reflects Chase Travel Group’s expanding influence in the full-service travel sector and its ability to leverage the broader JPMorgan Chase network.
8. American Express Travel
American Express Travel, catering to American Express cardholders with full-service and lifestyle travel solutions, slipped one position to eighth place. The company reported $9.8 billion in sales for 2023, highlighting its continued strong performance within its niche market and its contribution to the top travel agencies sector.
9. Corporate Travel Management
Corporate Travel Management climbed one spot in the rankings, reporting $9 billion in sales for 2023. This publicly held company operates across corporate, events, leisure, loyalty, and wholesale travel, showcasing its diversified approach and effective business model within the top travel agencies market.
10. Navan Group
Navan Group, a newcomer to the Power List, secures tenth place with $6.5 billion in sales for 2023. This privately held company, which owns corporate agency Reed & Mackay, marks a significant entry into the top tier of travel agencies, demonstrating rapid growth and market impact.
11. Internova Travel Group
Alt text: Modern corporate offices of Internova Travel Group, a leading travel agency holding company.
Internova Travel Group maintained its eleventh position from the previous year, reporting $5.7 billion in sales for 2023. This privately held company continues to be a significant player in the broader travel agency landscape, consistently ranking among the top travel agencies.
12. Hopper
Fintech travel company Hopper moved down to twelfth place from ninth, recording $5 billion in sales for 2023. Despite the slight rank decrease, Hopper’s sales volume reflects its continued growth and innovation in the online travel booking space, particularly leveraging mobile-first solutions.
13. Direct Travel
Direct Travel, serving corporate travel, meetings, incentives, group travel, and leisure vacations directly to consumers, reported $4.1 billion in sales for 2023, up from $3.6 billion in 2022. This growth underscores Direct Travel’s successful multi-faceted approach in the travel market.
14. AAA Travel
AAA Travel remains at fourteenth place, with $3.8 billion in total sales in 2023. AAA Travel’s consistent ranking reflects its established brand presence and reliable travel services for its membership base.
15. Fareportal
Fareportal dropped two positions to fifteenth place, reporting $3.2 billion in sales for 2023. Fareportal’s diverse online travel offerings continue to position it as a significant player in the digital travel agency space.
16. World Travel Holdings
Privately held World Travel Holdings fell one position to sixteenth, closing out 2023 with $2.15 billion in sales. World Travel Holdings remains a substantial entity in the leisure travel sector, particularly known for its cruise and vacation packages.
17. ATPI
ATPI, a new entrant to the Power List, ranks seventeenth with $1.7 billion in sales for 2023. This privately held company specializes in travel management services for the energy and maritime industries, highlighting a niche but significant market within the top travel agencies sector.
18. Arrivia
Arrivia, specializing in leisure travel, held onto the eighteenth position, with $1.3 billion in sales for 2023. Arrivia’s consistent ranking reflects its strength in providing leisure travel solutions and experiences.
19. World Travel Inc
World Travel Inc. climbed one position to nineteenth, selling $1.3 billion in travel in 2023. This employee-owned company focuses on B2B services and solutions for global travel and meetings management, demonstrating steady growth in the corporate travel space.
20. ATG
Privately held ATG moved down to twentieth place from seventeenth, recording $1.2 billion in sales last year. ATG continues to be a notable player in the travel agency market, maintaining a strong sales volume.
21. Trevolution Group
Newcomer Trevolution Group rounds out the top 24, securing the twenty-first position with $1.2 billion in sales for 2023. This privately held company focuses on direct sales of flight tickets and in-flight extras to both private and corporate customers, marking a successful entry into the Power List.
22. Cruise Planners
Cruise Planners moved down two spots to twenty-second place, reporting $1.1 billion in sales for 2023, an increase from $845 million in 2022. As a member of the Signature Travel Network, Cruise Planners showcases strong performance in the cruise and vacation planning sector.
23. InteleTravel
InteleTravel climbed three positions to twenty-third place, with $1.06 billion in sales for 2023. InteleTravel’s growth, encompassing hosted independent advisors, corporate travel members, a tour operator, and a MICE company, demonstrates a diverse and expanding business model.
24. Vacations To Go
Vacations To Go, a subsidiary of Vacation Publications, estimated $1 billion in sales for 2023, securing the twenty-fourth position. Vacations To Go specializes in discounted cruise and vacation packages, appealing to budget-conscious travelers.
Industry Outlook
The 2024 Power List not only highlights the leading top travel agencies but also reflects the overall positive trajectory of the travel industry. The increased number of agencies qualifying for the list, despite a higher revenue threshold, and the optimistic sentiment expressed by industry leaders, suggest a vibrant and resilient sector poised for continued growth. Keeping an eye on these top travel agencies provides valuable insights into industry trends and the evolving landscape of travel services worldwide.
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