Intrepid Travel, one of the world's largest adventure travel companies with 35 years in the industry, gathered in Toronto to offer insights into its vision for 2024 and beyond. The operator said it aims to double its customer base by 2030, targeting approximately 600,000 total customers and aspiring to reach AUS$1.3 billion in annual revenue.
In speaking with Open Jaw, Darrell Wade, Co-Founder of Intrepid Travel, emphasized the company's ongoing commitment to responsible tourism and community development. "That's something in the industry that too often we forget. We've got responsibilities beyond ourselves," Wade said. He underscored the potential for skill development and cultural exchange inherent in tourism, highlighting Intrepid's long standing dedication to supporting local communities.
In 2023, Intrepid posted a net profit $19.3 million CAD – a $42.3 million CAD
turnaround from 2022 - marking the end of the company’s pandemic recovery period and reflecting the growing global demand for sustainable and experiential travel. "Towards the end of COVID, we really went hard on marketing," Wade stated, attributing their success to strategic marketing campaigns, including out-of-home initiatives.
“The first half of 2023, the booking behaviours were quite different, in fact. People were travelling a bit closer to home and they were booking closer to departure,” continues Wade. “But now, I think almost everywhere is back to roughly where it was before. We're finding a significantly heightened interest in premium products particularly out of North America.”
Canadian bookings grew by 36% YOY in 2023, with popular destinations including Morocco, Vietnam, Egypt, Ecuador, Costa Rica, Italy, Japan. 2024 is looking strong for the region with North American revenue in the first quarter of 2024 having grown by 9% YOY.
In terms of sustainability, Wade outlined Intrepid’s commitment to their Sustainable Development Goals (SDGs), for example, an emphasis on gender equality. He stressed the importance of stimulating conversations and fostering change within the industry and the broader travel public.
"Places like India, the Middle East or Morocco, there's real gender issues. And so we say, how can we play a role in the destination to demonstrate the importance of gender equality and try to move the dial a bit? We stimulate those conversations through our staff, through our leaders, through telling stories so that we can start to change the way the industry and travel public think about gender.”
Discussing emerging destinations, Wade highlighted the untapped potential of the Middle East, citing countries like Jordan, Iran, and Iraq as examples. Despite current challenges, he expressed optimism, “The history is just so incredible there, and the people were just so extraordinarily welcoming. Iraq is not going to be on anyone's list next year. But maybe in five years we'll set up a DMC.”
Wade emphasized their important role of travel agents and encourages them to recognize their value. “I think sometimes still travel agents don't believe in themselves enough and the value that they can build. The power of a really good travel agent is amazing.”
He also noted the diverse demographic of Intrepid's customer base, spanning various age groups. “Strangely enough, there is no demographic to our customer base. In terms of percentile of travellers, we take the same number, same percent of people in their 20s, 30s, 40s, 50s and 60s.”
Looking ahead, Wade expressed enthusiasm for growth opportunities and enhancing connections with travellers. He underscored the importance of not only responsible tourism but also financial contributions to not-for-profits through the Intrepid Foundation.
“In September, we’re doing an India Women’s Expedition. Not only is it women only on the tour and led by a female tour leader, but also it’s connecting with women in local communities and doing things you can’t generally do with a mixed gender group particularly in these types of countries around the world,” explains Laura Hernandez, Intrepid Travel's Head of Partnerships for North America. “Over half of our travellers are women and 60% are traveling solo. The Women’s Expedition products offer a huge opportunity for women to experience a destination, make friends, connect with women in that community and give back.”
Franca Luele, Director of Partnership Marketing at Ensemble Travel Group, praised Intrepid for the sense of security it provides for travel agents. “Because the DMCs are representatives of Intrepid, there’s a sense of security for travel agents when they're selling because they know that they will have the same values, the same culture & the same service level that we are used to here in Canada.”
Anna Judek, Director of Marketing at Virtuoso Canada, commended Intrepid's cultural-focused trips, offering travellers authentic experiences guided by knowledgeable locals. “Intrepid hosts very interesting cultural-focused trips to amazing parts of this world. You get to experience the true local culture guided by someone who truly knows the region and knows the people.”
As Intrepid Travel charts its course for expansion and sustainability, the company remains dedicated to fostering authentic cultural experiences and driving positive change in the destinations it serves. With a focus on responsible tourism and community development, Intrepid Travel aims to lead the adventure travel industry into a more sustainable and inclusive future.
