In 2015, the travel portal Paravion increased its turnover by 2.7 times, reaching 46 million EUR, thus announcing that it has become the largest online travel agency in the country, and for this year it targets a turnover increase of 30%, to 60 million EUR.
“With a turnover of 46 million EUR, 400,000 Paravion users in 2015 and 115 million search transactions launched by our customers, we have become the largest online travel agency in the country and one of the top three in Central and Eastern Europe,” stated Remus Visan, Managing Director of Paravion, in a press release.
Approximately 67% of the turnover was generated by sales in Romania.
Flight tickets accounted for approximately 85% of the sales volume, but recent trends show an increase in the share of the holiday segment.
The most flight tickets, after Romania, were sold in Turkey, which is why the agency is counting on substantial growth in this market and in the holiday sales segment.
In 2014, the company migrated from the position of the Happy Tour group’s online business to that of an OTA (online travel agency), an independent and strategic business for the GED investment fund, the owner of Happy Tour and Paravion.
At the beginning of 2015, Paravion expanded into several markets in Southeast Europe, having teams of travel agents speaking English, Hungarian, Bulgarian, Turkish, Greek, and Spanish.
The agency also developed in the Turkish market after acquiring the booking portal Bavul.com at the beginning of last year. In parallel, sales grew in additional non-core markets in Central and Eastern Europe (Bulgaria, Hungary, Cyprus), as well as in the UK and Spain.
Source: Daily Business
Frequently Asked Questions
What was Paravion’s turnover in 2015?
Paravion reported a turnover of 46 million EUR in 2015, representing a 2.7-fold increase compared to the previous year.
Which market is the most important for Paravion?
Romania is the primary market, generating 67% of the company’s turnover, followed by Turkey where the agency has a strong presence through the acquisition of Bavul.com.
What are Paravion’s growth targets for 2016?
The company aims for a 30% increase in turnover, targeting a total of 60 million EUR for the year 2016.