Trevolution Group, global market leader operating ASAP Tickets, Skylux Travel, Dreamport, Oojo and other travel brands, has announced commercial results for 2023 with record volumes in airfare sales. Within last year, the Group’s total gross bookings reached a new milestone of over one billion USD, exceeding 2022 sales by 26% and resulting in over 843,000 unique tickets sold across economy and business class flights. Along with launching direct operations in the UK and the Philippines as well as strengthening its positions in already established markets, last year, Trevolution Group also implemented several new initiatives and innovations, from purchases to introducing NDC aggregated air travel services.
Gross travel bookings, which refers to the total dollar value, generally inclusive of taxes and fees, amounted to 1,174,540,000 USD, indicating a 26% increase from the previous year;
The number of unique tickets issued reached 843,486, increasing by 16% 2022;
The share of one-way tickets amounted to 28% of all tickets sold and grew by 25%;
The number of auxiliary products and services increased by over 22% last year.
For two decades, Trevolution Group has been a global travel market leader with extensive expertise in the Visiting Friends and Relatives (VFR) segment, which has shown strong growth in the past few years. It is also indicated it the Group’s most popular travel destinations, with the US, India, the Philippines, Nigeria, and Italy being the most frequently visited countries in 2023. Compared to the previous year, airfare sales to Italy have grown by 85% and to the United States by 40%, while Nigeria has shown a 17% growth. Meanwhile, China has emerged as the fastest-growing travel destination, exceeding 2022 flight sales by 89 times since fully reopening its borders to international visitors and gradually returning to the pre-pandemic tourism levels. A similar pattern was observed when defining leading departure countries where the United States, Canada, the Philippines and India also emerged among the top locations global travelers flew from.
Top Destination Countries
% of change 2023 vs. 2022
United States
40%
Philippines
4%
India
14%
Nigeria
Italy
17%
85%
Top Departure Countries
% of change 2023 vs. 2022
United States
15%
Canada
19
Philippines
56%
India
170%
Same as during the previous year, most passengers chose to fly Economy class, and one in every ten travelers flew Business class in 2023. In addition to that, round-trip was the most frequently selected trip type with an average of 2,5 times more tickets sold compared to one-way trips. It also indicated an 11% increase in sales, while the share of one-way tickets went up by 25%. Thus, it shows that today’s air passengers are more comfortable making last-minute plans and prefer having more freedom and flexibility with their VFR or leisure travel decisions.
Meanwhile, United Airlines, Turkish Airlines, American Airlines, Philippines Airlines and Qatar Airways were the most commonly used air travel companies Trevolution Group’s customers gave preference to throughout 2023. However, Air China showed the most significant increase in global ticket sales, which again points to the country’s tourism sector recovery.
Airfare Ticket Type
Airfare Ticket Type
Ticket Change 2023 vs. 2022
Economy Class
Business Class
14%
31%
Trip Type
Ticket Change 2023 vs. 2022
One Way
Round Trip
25%
11%
According to the latest sales data, the average advance purchase period last year was returning to the pre-pandemic levels when people would plan their travel longer ahead. Thus, in 2023, 17% of airline passengers booked their flights up to 10 days in advance, while 10% chose to do it 11-20 days ahead and 9% bought their airfare tickets up to a month in advance. While only one fourth of all travelers purchased airline tickets over three months in advance back in 2022, last year almost 30% of them chose to secure their flights 90 and more days ahead. A longer booking window indicates the returning travel confidence with people looking to secure their flights for a better price regardless of how far ahead in it might be. Meanwhile, the length of stay abroad has only increased by 4% in 2023 vs. 2022, with 29 days being the average period of time customers spend traveling.
Advance Purchase Days
% of Total Tickets in 2023
0-10
11-20
21-30
91+
17.4%
10.4%
9%
29.8%
In 2023, business class ticket prices went up by 10%, while economy class fares stayed relatively steady at around a thousand USD with no major changes. When it comes to purchasing auxiliary products and extra in-flight services such as Travel Care, Baggage Protection , Seat Assignment, Rental cars, Price Drop Guarantee, Fare Lock or Vacation Planner, this segment has increased by 22% in 2023 compared to 2022. This indicates the growing demand for comfort, affordable flight upgrades and additional travel products being available all at once when placing a booking.
Top Auxiliary Products
Ticket Change 2023 vs. 2022
Ticket Protection
Price Drop Guarantee
17%
54%
“2023 for us was a year marked by growth and accomplishments – while still continuously increasing our business volumes, we have launched a new travel Dreamport, and have introduced NDC aggregated air travel services. Looking ahead, the promise of the upcoming year is equally compelling. One of the upcoming initiatives includes a travel app, which will consolidate all our travel products and services into one comprehensive ecosystem. We are also dedicated to extending the selection of travel products and will soon introduce a new innovative corporate travel vertical, Triplicity, to our portfolio,” Alex Weinstein, Founder of Dyninno Group of Companies, commented.
Iternational Travel Network, ASAP Tickets, Skylux Travel, Dreamport, Oojo, and other travel brands, has established itself as the global market leader in the travel business, specializing in the visiting friends and relatives’ (VFR) segment.
The article Trevolution Group reports record numbers in annual airfare sales first appeared in TravelDailyNews International.
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