Intrepid Travel, a renowned tour operator, sets ambitious plans to enhance its turnover by 2030, driven by a strong UK market.
- The company reported impressive financial results for 2023, highlighting a net profit and substantial bookings and revenues.
- Co-founder Darrell Wade expressed confidence in achieving the target, attributing it to unbroken historical growth patterns.
- Despite growth plans, the chairman acknowledged the industry’s unsustainable nature and emphasised the importance of sustainable aviation fuels.
- Intrepid Travel has partnered with Genairgy, fostering a shared commitment to sustainability and long-term vision.
Intrepid Travel has unveiled an ambitious goal to double its turnover by 2030, spurred on by strong demand in the UK market. The company’s robust 2023 financial performance included a net profit of $21.8 million, with bookings reaching $621 million and revenues totalling $536 million. Co-founder and chairman Darrell Wade confirmed the company’s plans to ‘continue the growth curve,’ optimistically stating, ‘We’ll be twice the size of the company we are today by 2030 and I’m reasonably confident we’ll achieve that.’
The UK market’s performance has been exceptional, ranking as the second strongest after the US. Wade acknowledged the steady yearly growth rate of 20-25% and perceived the revenue target of $1.3 billion by 2030 as a continuation of the company’s historical trajectory.
Addressing environmental concerns, Wade candidly remarked on the challenges of aligning Intrepid Travel’s growth ambitions with sustainability goals, particularly in aviation. ‘Aviation is bad news – that’s the reality,’ he stated, while recognising the significant positive impact tourism can have on poverty alleviation and skills development. To reconcile these issues, he advocated for increased focus on sustainable aviation fuels (SAF), urging governments and industry bodies to facilitate this transition.
Wade admitted that SAF is currently costly, yet he projected a decrease in price over time. He underscored the potential of achieving net-zero goals by 2050, contingent on regulatory action. ‘Any fuel that goes into a plane is pretty much untaxed globally. Why is it that an airline gets a tax-free benefit whereas if we’re driving our car, we don’t?’ Wade questioned, suggesting that taxation might be necessary to induce change.
The strategic partnership with French firm Genairgy, established in 2021, aligns with Intrepid Travel’s sustainability and purpose-driven ethos. Wade praised the new shareholder, contrasting it with the previous mismatch with Tui, describing it as ‘like oil and water’.
Broadening his critique to the travel industry, Wade contended that many companies are not adequately addressing key issues such as decarbonisation, gender equality, and human rights. He also commented on Intrepid Travel’s ongoing effort to increase female representation in senior roles, encouraging industry-wide introspection and measurement of performance.
Intrepid Travel is setting a bold trajectory towards significant growth by 2030, integrating sustainability and equality into its core strategies.
