2023 sales: $3.2 billion
Previous ranking: 13
Employees: 3,000 full-time
137 W. 25th St., 11th Floor
New York, NY 10001
Phone: (646) 738-7813
Website Executives
FOUNDER/EXECUTIVE CHAIRMAN: Sam S. Jain
VICE CHAIRMAN: Werner Georg Kunz-Cho
PRESIDENT: Glenn Cusano
CFO: Sandeep Gill
CHIEF ADMINISTRATIVE OFFICER: Kimberly Samon
COMPANY FACTS
* Privately held company.
* Sam S. Jain is majority shareholder.
* Sells air tickets, hotels, cars and vacation packages to consumers via websites, mobile apps, chat and telephone
* Sales: 93% leisure, 7% business.
2023 DEVELOPMENTS
* Focused on customer satisfaction initiatives by enhancing the trip-planning, booking and post-booking process; added and made it easier to discover content such as seats and bags from key airline partners.
* Launched a hotel experience and improved vacation package and car rental experience.
* Increased self-service tools on mobile web, mobile app and desktop.
* Increased paid media spend in Meta, display advertising, streaming and linear television, audio and social media.
LOOKING AHEAD
* Evolving the mobile app with loyalty program enhancements and social media integration.
* Enhancing the ClubMiles loyalty program to deliver additional benefits.
* Incorporating generative AI to enhance the overall customer experience.
* Working on a social commerce initiative to maintain messaging context throughout the entire customer journey.
* Increasing payment options when booking: buy now; pay later; and save-to-travel.
* Expects demand for travel to continue to increase through 2024 with seasonal fluctuations. Economic uncertainty will place great emphasis on pricing, which could trigger higher customer search volumes as consumers work to compare prices. Last year saw an increase in unmanaged business travel, and Fareportal expects this trend to continue. The industry will see growing attention paid to cross-partner collaborations to inform the overall connected customer experience, the company says.