Signature Travel Network paid out close to half a billion U.S. dollars in commissions in 2024, as the luxury travel network’s members showed a deeper commitment to preferred partners, accounting for 92% of sales – up around three percentage points on the year prior.
The group also moved some 200,000 more travellers (through its preferred partners) in 2024 compared to 2023, with a conservative number of 1.7 million reported.
Alex Sharpe, President and CEO lauded the network’s members for their “great work” and for continuing to deliver “record business” for the consortia. On Monday, addressing a new record audience of 2,701 members and partners at the 2024 Conference in Las Vegas, Sharpe revealed year-on-year growth was up by double-digits.
“2023 was the best year by far,” he told a captive audience at The Venetian Resort. “ to be 15% better than the next year… to be tracking ahead, again, for 2025 is remarkable”.
Of those gathered, there were more than 1,850 travel advisors and members. Of that figure, nearly 750 were first-timers.
There were 46 international affiliates, and while that is a new benchmark for Signature it was a number Sharpe said will “probably be the smallest number I ever put up “. International affiliates were from Australia, Mexico, the Caribbean, Europe, Brazil and New Zealand.
“It’s not a big number but this sets the bar. Next year this number will be will be three-digits and it will continue to get bigger and bigger and bigger”, Sharpe forecast.
There was also record participation from members in Australia and New Zealand, with a contingent of 15. TravelManagers made up the bulk of those with 10 participants including Michael Gazal, Executive General Manager (attending for the first time), Grant Campbell, Chief Operations Officer, Troy Coelho, Operations Manager and a six other first-time personal travel managers. Other ANZ affiliates included Entourage Travel Group in Melbourne and Quay Travel in New Zealand.
Signature also has branch offices in Colombia, India, Ireland, Israel, Netherlands, Norway, Philippines, Poland and the United Kingdom.
“Thank you for being here,” Sharpe said of the collective International Affiliates. “You add a great flavour to this organisation. It’s also a great way that we’ll service our partners even better… being geographically diverse to be be able to support them in different areas.”
“With everything going on in the world, with all the distractions, this group continues to deliver record business every single year.”
Signature’s preferred partners paid out US$453,800,000 in commission to its 15,000+ leisure advisors, but the actual figure is even higher considering other commission came from non-preferred partners and from air.
Sharpe said commission is one of Signature’s “best metrics” available to measure how business is progressing.
“Not just the money part of it, but it represents what our team does to serve you. It’s great commercial terms with our partners. It’s creating demand together, all the great marketing our team does on your behalf and that you work with us on. It’s about highlighting your value to the customer.”
Sharpe spoke about the “Signature advantage”, and how members can make it “your advantage”.
“Showing your value so that you can get those customers and then leverage the efficiencies of our tools and technology so that you can get through the booking and move onto the next client.”
And while luxury travel continues to thrive, the President encouraged members to be using this time to be “preparing for the storm” of other future headwinds. “We have to carve out time to be prepared,” he said.
“When we’re prepared we focus. So you have to slow down a little but, spend that time. Are you staying diligent with what you said you would do during COVID? Are you still doing that today?”
Sharpe also raised the importance of marketing, and how that focus is based on the principle of “it’s always about you.”
“It’s never about Signature. It’s your brand, it’s your call to action. That’s critically important.”
“But you have to lean in, your agencies have to lean in. We sent 4.5 million direct mail pieces this year on your behalf. Signature didn’t appear on one of them. Again, it’s all about your brand, your call to action, your agent, your advisor profile.
“1.7 million publications. 65 million emails. It’s great to stay in front of them. It’s not just information, it’s inspiration and then calls to action to get them to move.”
Sharpe emphasised that Signature never needs to be referenced in regards to the value-add amenities that the network is able to leverage with partners for their clients, such as room or suite upgrades or shipboard credit.
“They got because they know you and you’re the best damn travel advisor in the world,” Sharp said. “That’s what you have to tell them. Everything you do.
“We have no ego in this. Take it as your own. Sell it as your own. That’s your value, and this is the way we serve you.”
Speaking of the wider portfolio, Signature Travel Network introduced 117 new hotel and resort properties in the past year, boosting its stable to 1,316 properties in 106 properties globally. Within that collection are 607 suite & villa partners that offer an additional amenity valued at US$100.
Signature’s cruise program added two new members, The Ritz-Carlton Yacht Collection and Sea Cloud, taking the total to 37 Preferred Partners. The consortia now has 72 partners in land & specialty, 96 destination partners in 120 countries, 90 tourism boards and 11 air partners.
Further, Sharpe discussed Signature’s enhanced tools and efficiencies, which include SIG Cruise Pro (now turning over 10,000 new cruise bookings each month), the newest version of Hotel Connection (only launched a few weeks ago) and the huge increase in demand for the organisation’s Artificial Intelligence (AI) platform, Toby AI. More on those initiatives to be covered exclusively in LATTE.
LATTE travelled to Las Vegas as a guest of Signature Travel Network.
