Host Agency Reviews has released its 70+ page report on trends in the world of host agencies: The Hosted Travel Advisor Research Report Summary, 2023.
The recently released report aims to inform advisors, suppliers, agency allies, and host agencies about the current state of affairs in the industry—according to the 1,700+ hosted advisors polled.
Of those, only 23% of hosted advisors have reported sales below pre-pandemic levels. This lends thought to the optimism that about 77% of hosted advisors are moving beyond simply survival in the face of hardship, and into the realm of growth. Though these numbers are not directly reflective of the entire travel industry, they are an excellent place to start with an optimistic approach to the future.
This approach is backed by those same hosted advisors saying that their average income had increased 42% over 2021 numbers. The newest advisors earn, generally, a quarter less than the more experienced hosted advisors.
Steph Lee, founder of Host Agency Reviews, detailed how these numbers are not easy to come by, “Hosted advisors are a difficult segment to track. The fragmented nature of the hosted sector makes them underrepresented in conventional third-party sources such as the Bureau of Labor and Statistics or even traditional industry reports.”
Steph continued that Host Agency Reviews can present these numbers from mostly uncharted territories because, “Advisors are generous in the time they invest in taking our comprehensive survey, and the depth of our report—70+ pages—is a reflection of their time investment!”
Some of the more interesting takeaways from the full report summary show the variety in how hosted advisors run their show, with almost half (49%) charging a fee and the annual income for all experienced hosted advisors at $47,179. Also are age and experience stats, like 34% being new to the industry (noted as less than 3 years of experience), and the median years of experience 5 years.
Not surprisingly, ocean cruises topped the charts as the most popular product sold.
Also included in the press release, alongside The Hosted Travel Advisor Research Report Summary, 2023, is an announcement that they will release two other reports in the coming week: the Independent Advisor Report and the Travel Advisor Employee Report. Information regarding all 2023 reports can be found on their Travel Advisor Research and Reports page.
The full 70+ page report and can be purchased at The Hosted Travel Advisor Research Report Summary, 2023.
