eDreams ODIGEO Expands Through a Technology-Driven Travel Model
eDreams ODIGEO has long aimed to be a travel platform, and in practice it now operates more like a technology subscription company that also sells trips. This year of growth comes as the travel industry resumes activity, though it has not yet fully returned to pre-crisis levels. The company’s leadership notes that a key factor in this trajectory is a subscription program that allows customers to pay a fixed price for access to cheaper travel and additional services, creating a blend of product and platform value for subscribers.
The Barcelona-based firm closed its fiscal year 2022-2023, running April to March, with revenue of 621 million euros, up 47 percent from the prior year. Nearly half of the company’s 4.3 million subscribers have engaged with the core subscription offering, which grew revenue and contributing profit, even as overall operating profit reached a level close to that of the previous year. Nonetheless, eDreams ODIGEO ended the period with negative net income, reporting a net loss of 43 million euros, though the loss narrowed by about one third from the previous year.
Company executives emphasize that net benefits will take longer to manifest, even as they highlight a substantial increase in the workforce. The executive team notes a surge in demand for engineering talent to support product development and says the workforce has risen by about 50 percent since the recruitment drive began in November 2021. At present the company has around 140 open positions seeking engineers and other specialists, underscoring a commitment to scale the team as part of the growth strategy.
The longer-term plan aims to reach March 2025 with about 1,500 employees, a target the leadership believes will be exceeded. The company also targets 7.25 million subscribers and a doubling of EBITDA, with the expectation that net income will follow as scale deepens and operational efficiency improves.
Progress, Subscriptions, and Financials
Looking at recent performance, the leadership team remains pleased with the year’s results, citing multiple historical records in revenue, subscriber numbers, and total reservations. They view the performance as a proof point of the subscription model and cost efficiencies. The company notes that its business is showing strength, with a forecast of seven quarters of growth in reservations, even as the broader travel sector remains below the 2019 peak.
The team attributes much of the early momentum to the subscription program, which couples perceived price advantages with a reliable travel experience. The program is designed to appeal to customers who value both cost certainty and flexible travel options. At the same time, the effects of recent lockdowns continue to influence consumer behavior in key markets, where airfares have trended closer to pre-pandemic levels, supporting ongoing travel demand. Data indicate that travelers are choosing shorter, more frequent trips, a pattern driven by price dynamics and shifting consumer preferences.
In this environment, the company notes a consistent flow of customer requests for enhanced features and services. This demand reinforces the strategic focus on expanding the platform’s capabilities and the subscription offering, which in turn supports growth in both reservations and revenue visibility. As customers experience the benefits of the program, engagement and repeat bookings are expected to rise, contributing to stronger cost management and improved economies of scale over time.
Analysts and observers will be watching how the mix of subscriptions, core travel sales, and ancillary services evolves as the business continues to invest in engineering, data analytics, and platform improvements. The company remains focused on delivering a compelling value proposition to subscribers while expanding the geographic reach of its services and ensuring a stable, scalable operation that can sustain growth through the next phase of the market cycle.
Overall, the strategic emphasis on a software-enabled, subscription-backed travel model positions the firm to convert current demand into sustained growth. The leadership argues that delivering consistent value to subscribers will be the primary driver of future profitability, with policy clarity and competitive pricing continuing to support customer adoption of the subscription tier and related offerings. This approach aims to create a durable, scalable business that can weather industry fluctuations while pursuing the goal of broader market penetration and higher recurring revenue.