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30 March, 2022

Intrepid signals shift from ‘surviving to thriving’ in latest company report

By Alexandra Coulton

Intrepid Travel has released its 2021 Integrated Annual Report providing a behind-the-scenes look at how it refocused and reinvested to prepare for the travel rebound.

As a privately-owned company, Intrepid isn’t required to report publically, but that hasn’t stopped the adventure travel company from releasing the report each year.

In fact, as a certified B Corp, it’s crucial that Intrepid upholds high standards of transparency, which is reflected in the auditor’s reports scattered throughout the document.

The 2021 report highlights how, despite ongoing challenges, the company restarted its global operations after the shutdowns of 2020 and continued to raise funds for communities in need around the world.

According to the UNWTO, in 2021, global tourism arrivals were down 72 per cent on pre-pandemic levels. This follows 2020, the worst year on record for tourism, when international arrivals decreased by 73 per cent.

Despite this challenging global operating environment, in 2021 Intrepid invested in retaining as many staff as possible, returning office staff in its three key sales regions to their full-time hours, brought back a number of staff benefits, invested in leader training to support tour guides for the new operating environment and ran trips in 40 countries.

Intrepid shifted its focus to physical and mental wellbeing and flexible work for its 1,235 team members across the globe, with an aim to support a healthy, resilient workforce as travel rebounds.

In 2021, the business looked to support people from ‘surviving to thriving’ and rebuild its team for future growth and deliver on our Strategy.

As a way of recognising the challenges facing our people, Intrepid conducted two employee engagement surveys and found that, despite the uncertainties, its people were more engaged than ever with a score of 82 per cent (compared to 77 per cent in 2019 and 2020).

The company was also recertified as a B Corp, which involved a rigorous external audit that evaluates every facet of a company’s social, environmental and governance aspects.

In terms of financials, the report indicates that by the end of 2021, Intrepid had $91 million cash and undrawn available bank facilities (compared to $48 million in December 2020).

The business aims to become the first $1 billion adventure travel company, but the ongoing impact of the pandemic means this will not be realised by 2025 as planned.

Intrepid aims to match its 2019 results in 2023/24 and will then accelerate towards $1 billion.

“We take a long-term view. I know that what we achieved and how we positioned the business for future growth sets us apart,” said James Thornton, Intrepid Travel CEO.

The 2021 report revealed other notable accomplishments made by Intrepid during the year, including acquiring New Zealand’s Haka Tours, ANZ Nature Tours and US eco-conscious walking company Wildland Trekking as well as establishing two new Destination Management Companies in Australia and the US, raising $501,447 AUD by The Intrepid Foundation and providing access to COVID-19 vaccines for 28,233 people through funds raised by The Intrepid Foundation.

Intrepid also received its highest ever staff engagement score of 82 per cent (compared to 77 per cent in 2019 and 2020).

You can read the full report HERE.

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B Corp Integrated Annual Report intrepid travel