Travellers Choice membership is proving to be an outstanding investment for independent travel agents after the group today unveiled a record pre-tax operating profit of $3.2 million for the 2023/24 financial year, more than 85% of which will now flow directly back to member shareholders.
The result represents the largest net profit in Travellers Choice’s 48-year history and a 58% increase on 2022/23.
The vast majority of the profit will now be returned to Travellers Choice members in the form of an unfranked dividend of 6% on issued capital (30 cents per share) and trading rebates based on sales support for preferred partners.
Managing Director Christian Hunter says the award-winning group’s members have shown “remarkable dedication and resilience” over the past few years and it is pleasing to see that hard work rewarded in the form of a healthy profit distribution.
When viewed in combination with the group’s low membership fees, he says Travellers Choice now offers independent travel agents an exceptional return on investment (ROI).
“In the 2024 financial year, the average Travellers Choice member paid a membership fee of less than $3,000 and received almost $30,000 in rebates – representing a 10-fold return on investment,” says Hunter.
“If you add into that equation the other financial benefits that members accrue throughout the year – including sales incentives, at-source commissions, discounted industry membership fees, consumer advertising and IT support – the average Travellers Choice member receives close to $50,000 in value – a 17-fold ROI.
“And of course that is before you consider the extensive range of non-financial benefits that our members enjoy in the form of marketing and sales support services.
“The bottom line is that Travellers Choice offers independent travel agents unrivalled value.”
While various issues – including growing cost-of-living pressures and geopolitical instability – could dampen demand for international travel in the current financial year, Hunters says the Travellers Choice Board is nevertheless forecasting another positive financial result for 2024/25.
Travellers Choice member shareholders will meet in Sydney in November for the Company’s Annual General Meeting, which will immediately precede the network’s 2024 Conference.
Themed ‘Travelution’, this year’s Conference will feature a range of guest speakers, include dual Guinness World Record-holder James ‘Cas’ Castrission, one of Australia’s most revered adventurers, who will help members embrace the “explorer mindset”.
More than 250 members and preferred partners will also participate in networking sessions, panel discussions, a Preferred Supplier Exhibition, and the Travellers Choice National Awards Gala Dinner.
For more information on Travellers Choice please visit www.travelagentschoice.com.au.
