Dreams Odyssey, a prominent online travel agency, reported an impressive surge in revenue, climbing to 146 million euros as it closed the first quarter of its current fiscal year. The quarterly period, ending in June, set a new booking record and highlighted a strong rebound in activity after the pandemic era. During the first quarter of fiscal 2023, the company logged 4.4 million bookings, marking the highest quarterly total in its history and reflecting a 50 percent increase in bookings compared with pre-pandemic levels. The business also welcomed 560,000 new primary members over the three-month span, underscoring growing consumer interest in digital travel services. In the summer months of 2022, July and August bookings not only surpassed pre-pandemic figures, by 38 percent and 55 percent respectively, but August also saw subscriber totals surpass the 3.5 million milestone. Despite these gains, the adjusted net result for the quarter showed a loss of €11.5 million, a contrast to the €15.5 million red ink recorded in fiscal 2022, illustrating the ongoing investment phase that accompanies rapid growth and platform modernization.
Analysts note that net profit remains sensitive to the mix of travel products customers choose, with demand skewing toward lower-value bookings, changes in passenger counts, and varying trip durations. The company also pointed to higher variable costs tied to increased reservations and higher fixed costs driven by a 50 percent expansion in personnel, signaling a deliberate ramp-up to support long-term scale. These factors shape the near-term profitability trajectory while enabling broader market reach, particularly across North American travellers who increasingly tap into Dreams Odyssey’s multilingual platform and extensive global inventory.
Edreams CEO Dana Dunne emphasized that the firm is well positioned to hit fiscal year 2025 targets, aiming to exceed 7.25 million first-time customers worldwide, secure an average revenue per user of 80 euros, and maintain a cash balance above 180 million euros. The outlook reflects a confidence in the company’s strategic direction as it continues to optimize its product mix and expand subscription-based offerings, a model designed to deliver sustained engagement and predictable revenue streams across diverse markets, including Canada and the United States.
While quarterly net losses persisted, a decline of about €10 million underscores a trajectory toward profitability that the company attributes to the ongoing transition in travel behavior. The management reiterates that the results are still influenced by the same mix of travel types, lower-value bookings, passenger numbers, and trip lengths seen in earlier periods. The strategic plan remains active and features a goal of hiring more than 500 new technical profiles to further support the business’s transition to a subscription-based framework, reinforcing Dreams Odyssey’s capacity to adapt to evolving consumer preferences and digital commerce dynamics in North America and beyond.
Today, Dreams Odyssey claims a dominant position in the global travel market, serving more than 17 million customers annually across 44 countries through its four brands — eDreams, GO Voyages, Opodo and Travellink — along with the Liligo metasearch engine. The platform operates in 21 languages and supports 37 currencies, delivering a truly international booking experience. Despite ongoing geopolitical tensions in Europe, inflationary pressures worldwide, and operational challenges faced by airlines and airports, the company continues to accelerate activity and deepen its business model. Mobile reservations accounted for 53 percent of total flight bookings in the quarter, illustrating a strong shift toward on-the-go planning and instant access to travel options for North American travellers as well as customers around the world.
Dreams Odyssey has also completed a strategic capital optimization, increasing primary capital by 75 million euros in January 2022 at investor request and refinancing existing debt by reducing the 425 million euro preferred bonds to 375 million euros. The restructuring extends debt maturity by 5.5 years to 2027, improves contract terms, and reduces annual interest expenses by about 2.5 million euros, contributing to financial stability that supports the execution of the 2025 plan. This refreshed balance sheet furnishes the company with the resources needed to finance ongoing expansion while maintaining liquidity for operational resilience.
The leadership indicates a readiness for further expansion, prioritizing selective investments that may temper short-term EBITDA growth but will drive long-term value. Dreams Odyssey positions itself as the world’s largest air-ticket sales tool outside of China and one of Europe’s leading e-commerce players, serving more than 17 million customers annually across four brands and the Liligo metasearch engine. The company collaborates with more than 690 airlines and over 2.1 million hotels, reflecting a vast and diversified inventory that supports a wide range of travel needs in North America and globally. Since the launch of Prime in 2017, the world’s first travel subscription product, the service has attracted more than 3.5 million members, illustrating a sustained consumer interest in predictable travel planning and cost certainty. The company’s ongoing evolution toward a subscription-centric model signals a shift in how travelers access and pay for trips, with implications for competitors and partners in Canada, the United States, and beyond.