CarTrawler has reported revenues of almost €174m for 2023; an increase of 5% on the previous year.
The Irish-founded global B2B technology provider for car rental and mobility solutions signed up 14 new partners in 2023 and said recent new business wins are expected to further boost its financial performance this year.
Group operating profit, for last year, grew 150% to €8.3m.
CarTrawler’s strong performance was fuelled by the ongoing recovery and growth in travel demand post-COVID and several significant new business wins. Notable new partnerships included American airline Avelo, Spanish low-cost airline Volotea, and a collaboration with Hilton Honors.
The stabilisation of car rental pricing from the record highs of 2022 played a role, with car reservation volumes increasing 15% year-on-year as a result of continued strong consumer demand and new business wins.
The Company is one of the largest players in the B2B car rental marketplace and its other key partners include EasyJet, Norwegian Air Shuttle, Emirates, United Airlines, Uber and American Express Travel, as well as a network of over 2,200 car rental and mobility suppliers across 50,000 locations in more than 150 countries.
Peter O’Donovan, Chief Executive, CarTrawler, said: “Our strong performance in 2023 is testament to the strength of our market leading proposition and the talent across our business, which in combination maximises ancillary revenue for our 250 travel partners and 70 airline partners.
“We continue to develop new and innovative ways to improve the car rental experience for consumers – be that through our intuitive booking platform, the market leading choice of booking options we offer, or the award-winning customer service we provide.
“The outlook for our business is the most positive it has ever been. The strength of our proposition is enabling us to deliver a record level of new business, with several new partners going live in the coming months. This is in addition to the 10 new partners already added the last year and in combination will drive further growth in our 2024 financial year.”
