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Intrepid’s 2018 Annual Report Highlights Challenge Of Sustainable Growth

April 9, 2019 Responsible Tourism No Comments Email Email

The world’s largest adventure travel company, Intrepid Group has marked its third consecutive year of record growth in revenue, profit and customer numbers.

In 2018, the multi-brand global business achieved 18% growth in gross revenue, at $402 million. This was met with an EBITDA* result of $16.1 million (up 22% from 2017) and more than 430,000 passengers carried across its four tour operator brands.

These figures are today released within the Group’s 2018 integrated Annual Report.

“In almost every way 2018 has been our best year ever,” says Intrepid Group’s CEO, James Thornton. “Our growth has put us in a healthy financial position which is allowing us to further scale our business. We’re also growing the positive impact we’re having as a Purpose-led business.”

This is the second year that the independently-owned Intrepid Group has released an integrated Annual Report, which it says is part of its commitment as a certified B Corp to transparency and public accountability.

“This is our first report as a B Corp and that means we’re even more committed to an honest account of the year,” says Thornton. “While it’s difficult to admit the things that didn’t go to plan, we firmly believe that transparency makes us a better business.”

Some of the challenges that Intrepid Group includes in the report include the impact of political events on destinations such as Myanmar and Cuba, expansion in to the Chinese market, the slow strategic implementation of an FIT themed product range, as well as a steeper than expected learning curve for new DMCs in Iceland, Japan, and Costa Rica.

“The biggest challenge facing our business and our industry is sustainable growth,” says Thornton.

“While growth is nice, it creates a dilemma for anyone who loves travel. Overtourism is a real concern for our industry. We need to work together with communities to provide innovative product that create better places to live and travel.”

Key achievements in Intrepid Group’s 2018 Annual Report include:

Achieved B Corp certification, becoming the largest B Corp in the travel industry globally, and the largest B Corp in Australia.

The launch of the Madi Valley community-based tourism project in Nepal.

A global Employee Engagement Score of 82%

54% growth in Urban Adventures customers

31% increase in PEAK DMC sales

Becoming a seven-continent operator, with the launch of its new polar expeditions, in partnership with Chimu Adventures

Winning more than 15 awards, including Best for Employment at the World Tourism Awards for Intrepid Group Colombo

The 2018 Annual Report also includes The Intrepid Foundation’s Annual Report, which shows $1.15M was disbursed in 2018.

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