Advantage hits record £17.6bn turnover as chief warns of ‘direct strain’ from Budget

The Advantage Travel Partnership has reported record financial results for the 2024-25 financial year, with total turnover across its global network reaching £17.6 billion.

 

Collective turnover for the consortium’s UK membership base climbed to £8.9 billion, representing a £30 million year-on-year increase.

 

The figures, announced during the consortium’s annual conference in Madrid today (May 12), show the group posted a net profit before tax of £1.38 million.

 

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Net assets at year-end rose to £9.25 million, while transactional turnover jumped to £186 million, driven by increased trading activity.

 

Advantage chief executive Julia Lo Bue-Said described the period as “defining” for the consortium but noted that the results come against a challenging economic backdrop.

 

In her opening speech, she pointed to modest 1% UK GDP growth and recent Budget measures – including rising National Insurance contributions and business rates – as placing a “direct strain” on the sector.

 

She also referenced the “political turmoil” in the UK following last week’s local elections, which “offers little additional reassurance”. 

 

Characterising the current climate as a period of “constraint rather than crisis,” Lo Bue-Said said: “If we want businesses to invest, to hire and to grow, then we must create the conditions that enable that growth – not simply expect businesses to absorb continued pressure”.

 

She added that while businesses are adapting, many are doing so cautiously by pausing recruitment or reconsidering growth plans.

 

Despite the headwinds, Lo Bue-Said was confident the resilience of the sector would enable all sectors to continue their upward trajectory.

 

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She highlighted growth of the Advantage Managed Service (AMS) model, which saw its turnover approach £200 million – an increase of more than 20% year-on-year.

 

Cruise also remained a standout performer, now accounting for about 15% of the consortium’s total annual turnover, revealed commercial director John Sullivan at a pre-conference briefing.

 

In total, Advantage has welcomed 52 new members in the last 12 months, with Lo Bue-Said saying the consortium’s pipeline for ongoing member growth “remains strong”. 

 

The group’s global footprint has also expanded to 83 countries, with representatives from countries including Singapore, Romania, Turkey, Brazil, the Philippines, Argentina, and Canada in attendance at the Madrid event, taking place at the Meliá Castilla.

 

“The progress we have made since Malta [2025 conference location] is significant, and it is a direct reflection of the talent, resilience, and commitment of the people in this room, my team and our shared ambition as a collective,” concluded Lo Bue-Said.

 

“In a commoditised market, we are reframing the role of the agent, spotlighting expertise, protection, choice and value.”