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HalalBooking, a leading online travel agency specializing in halal-friendly travel, achieved significant success in 2022. The company recently announced its financial results for the year ending December 31, 2022, revealing a new sales record of $52 million. This represents a 45% increase in sales compared to the previous year and surpasses the company’s target of $50 million. Despite facing challenges such as the Russia-Ukraine war, high flight ticket prices, and the cost-of-living crisis, HalalBooking managed to achieve this growth.
While the company reports its results in US Dollars, most of its sales actually occur in Euro and GBP due to its international operations. If it weren’t for the unusual strengthening of the US Dollar throughout 2022, the results in USD would have been close to $60 million, indicating a growth rate of 62%. This growth rate is consistent when comparing results in GBP and EUR and is also reflected in the 64% increase in the number of bookings.
HalalBooking’s success can be attributed to its aggressive growth plan, which remained unaffected by the uncertain macro-economic environment. In 2022, the company welcomed over 133,000 guests from 106 countries, who booked a total of 830,000 guest nights in 71 different countries. The popularity of the 3-tiered HB Loyalty Club also soared, with its membership doubling to over 700,000 members. This increase can be partly attributed to the company’s strategic marketing partnerships with global brands like Turkish Airlines and Mastercard.
Furthermore, HalalBooking expanded its property portfolio by 172,000 properties, reaching a total of over 433,000 properties in 88 countries. This expansion was made possible through API partnerships with intermediary suppliers like Expedia, which provided a wider range of choices for customers in various destinations. The company also implemented numerous technology projects to enhance the user-friendliness of its website and improve its offerings to attract more travelers.
Additionally, HalalBooking focused on strengthening its B2B segment by offering new features and special package rates for travel agency partners. As a result, its B2B affiliate agency network expanded to over 2,500 partners worldwide. In Q4, the company signed an API partnership with Agoda, which will further enhance its intermediary supplier network in early 2023.
