Trevolution Group reports strong financial performance for 2024

Group announces it's surpassed $1.2 billion in gross bookings

Trevolution Group, parent company of Oojo, ASAP Tickes, Dreamport and more, has announced positive commercial results for 2024.

This news sees another another year of steady growth for the company that is part of the Dyninno Group. 

It reported gross bookings of $1,238.64 billion, a 5% increase compared to the previous year. 

The group sold nearly one million airline tickets, with a total of 980,092.

It also launched several new products, including its loyalty programme Dreampass as an app available on both the App Store and Google Play, and the launch of Dreampass Plus, a subscription membership feature within the app. 

The group also launched Vagamo, a new travel platform that combines flexible online booking with expert support, and introduced cryptocurrency payment options for flight bookings at Skylux Travel. 

Its findings from 2024 data highlighted data many trends. The most popular travel destinations of the year for the Group’s travelers were the United States, the Philippines, India, Italy and Canada, with Canada being the only newcomer to the top 5 rankings.

A similar trend was observed among top departure countries, with the United States, the Philippines, India, Canada, Italy, Nigeria and Turkey ranking among the most common starting points for global travelers.

Trips to Italy increased by 90%, with demand for Italy showing a consistent upward trend, maintaining the same growth rate as the previous year, while destinations like Saudi Arabia (117%), Egypt (85%), Thailand (77%), and Pakistan (58%) also saw a strong increase.

In 2024, the Economy class remained the top choice among travelers, with total sales reaching 869,183 tickets, resulting in $828,52 million (66% of the overall gross booking). Business class also saw an increase, reaching 88,961 tickets and $357,67 million (34% of the overall gross booking), respectively. 

Round-trip travel continued to dominate charts, accounting for 626,648 tickets - more than twice the number of one-way tickets, which totalled 285,328. 

While round-trip sales grew by 10%, one-way sales surged by 34%, highlighting a growing trend toward flexibility and last-minute travel decisions among most of the Group’s passengers. 

The average fare for Economy class air travel decreased by 13%, while Business-class air travel stayed at nearly the same level, declining by 1%. In addition, the average ticket price declined by 16% for one-way tickets and by 8% for round-trip tickets.

In 2024, the top preferred airlines among Trevolution Group’s customers were Turkish Airlines, United Airlines, Lufthansa, American Airlines, British Airways, and Philippine Airlines. 

Notably, Qatar Airways saw a remarkable surge in demand, with ticket sales soaring by 48%.

According to the latest sales data, there has been a shift towards longer advance purchase periods, too. 

The highest demand occurred for bookings made more than three months in advance, with over 30% of travelers opting for this window. 

At the same time, 17% of customers booked their flights within 10 days of departure. 

This trend highlights a growing divide in travel behavior, with passengers increasingly booking well in advance or opting for last-minute travel due to urgent needs.

Meanwhile, the average length of stay for customers shortened by two days in Economy class, and by one day in Business class, compared to the previous year, resulting in an average stay of 27 days for Economy and 23 days for Business; a shorter stay indicates increased travel efficiency and potential work and travel integration.

When it comes to purchasing auxiliary products and additional in-flight services, Trevolution Group experienced a 247% surge in demand for its lost baggage protection, making it now one of the fastest-growing auxiliary products offered by the brands.

“In 2024, we embarked on a year of structural transformations, advancing the travel experience, building a comprehensive ecosystem, and securing greater benefits through industry partnerships," said Alex Weinstein, founder of the Dyninno Group of companies.

"We launched Dreampass, a super-app, and Dreampass Plus, a premium subscription with perks like international data roaming and exclusive travel benefits. The all-in-one app resonated strongly with travelers, resulting in over 13,000 membership sales and generating $1.6 mln in revenue from the Dreampass Plus membership product within less than six months. 

"We also initiated market expansion with our OTA, Oojo, which quickly gained traction and proved to be a major success story. 

He added: "We developed Vagamo, a next-generation hybrid travel platform that empowers travelers to book flights their way - whether by searching online for the best deals, receiving live support from expert travel agents, or accessing exclusive offline prices. These developments mark a significant step forward for Trevolution."