Despite the challenges of the post-COVID travel industry, eTravel has recorded an “incredible” year.
At the annual eTravel awards held in Cape Town in October, SW Travel was named the top ITC of the year. Upstream Travel secured second place and Travel B came in third.
The highly anticipated awards ceremony was hosted by MC Darren ‘Whackhead’ Simpson and brought together ITCs, service providers and stakeholders from across the country at the Cape Town International Convention Centre for an evening of celebration and recognition.
In his keynote address, eTravel CEO, Garth Wolff, acknowledged the challenges the travel sector had faced after the COVID-19 pandemic but noted that the industry had made a strong comeback over the past two years.
"We have had an incredible year, generating around R135 million in revenue every month," he said. "We achieved a record turnover of R1,62 billion, with annual growth of 4,3%."
He added that the company had received R147 million in service fees and commissions, of which R120 million was paid to ITCs.
"Travel is a tough business. The margins are slim and we are not immune to challenges," he said, emphasising the importance of building cash reserves in case of another “rainy day”.
“The past few years have not been easy and as an industry we have had to work hard to return stronger than before,” said Wolff.
He noted that the budget for 2025 was modest but achievable, with projections set for an estimated turnover of R1,67 billion and service fees and commissions at 9,1%. "We are confident that we will achieve a nett revenue of 1,6%, estimated at around R27 million."
Reflecting on the past 25 years since founding eTravel in 1999, Wolff said the company had achieved remarkable growth, often in the face of adversity. “We achieved a turnover growth of R593 million within our first five years and were cash-positive after just three. We have faced many challenges over the years. Less than a year after we opened our doors, we dealt with the SARS virus, and shortly after that came the 9/11 attacks. The next five years achieved R2,157million in growth during this period to June 2009. But we were again faced with turmoil, this time navigating the global financial crisis."
Despite the obstacles, the company persevered. By June 2014, eTravel had experienced a further growth of 83% during this five-year period and a further 34% growth for the five years to June 2019.
Wolff emphasised that the travel sector has repeatedly demonstrated its resilience and ability to reinvent itself. "Now, we are setting new records every other month, embracing new technologies such as AI, making this an exciting time for our business."
He said amidst all the pressures of travel it was necessary and important to celebrate the industry, its resilience and commitment to innovation. This was exemplified at the awards as eTravel acknowledged the hard work of its partners.
A2B Travel received the award for the highest commission generated and Valerie M Travel Services was recognised as the most improved ITC.
NB: A version of this story was published earlier this month, in which incorrect monetary values were shown. This version has been corrected. Travel News apologises to eTravel for the errors.
