Travelzoo says it has recovered some of the losses from its pandemic-hit 2020, especially in the company's North America business.
Reporting earnings for the second quarter of 2021 the company says North America is at 78% of 2019 levels while Europe is still lagging at 48% of revenues from that year.
In Q2 2021, Travelzoo saw consolidated revenue increase 172% year-on-year to just over $19 million and up 34% compared to the $14 million reported in the the previous quarter.
Net income for the quarter was reported as $3 million while cash flow from operations came in at $13 million.
Lisa Su, chief accounting officer of the company, says Q2 “exceeded our expectations with how quickly revenue has increased from Q1. Looking forward, we expect for Q3 revenue in the range of $20 million to $21 million.”
The travel deals and metasearch company claims it has 30 million members who are ready to go on trips as restrictions lift.
Holger Bartel, global CEO at Travelzoo, says: “We seize the exceptional industry opportunities for providing 30 million Travelzoo members exclusive and irresistible travel, entertainment, and local offers and experiences. Travelzoo members are affluent, active, and open for new experiences.”
Going forward the company is looking to grow its subscription business Jack’s Flight Club, which it acquired a 60% stake in January 2020.