Signature Travel Network’s Annual Owners’ Meeting is taking place this week in South Maui; in addition to fundraising efforts and a focus on responsible tourism to the island, the advisor network shared several updates during the event with its shareholders.
Here’s the latest from the co-op.
Ignacio Maza Will Transition From EVP to a Senior Advisor Role
Ignacio Maza, who created Signature’s Hotel Program in 2005 and is known as an “ambassador of all things luxury,” will transition from his full-time role as the network’s executive vice president to a senior advisor role at the end of the calendar year, according to Alex Sharpe, CEO and president of Signature.
“When you have a talent like Ignacio, you don’t teach them anything,” Sharpe said. “You give him air and space to do what he does. We thank him for 20 years of heart, passion and energy. Without him, we wouldn’t have a hotel program or our Destination Specialist program. It’s not a big goodbye, by any stretch, but a time to celebrate him.”
When you have a talent like Ignacio, you don’t teach them anything. You give him air and space to do what he does. We thank him for 20 years of heart, passion and energy.
Sales, Booking Data Shows Growth for Hotels, Tours and Cruise
Signature Travel Network hosts 279 member agencies across 607 locations and represents more than 15,000 leisure advisors. The network had a record year in sales for 2022, and 2023 is shaping up to be even better.
So far for 2023, Signature agencies’ median sales is $4 million, compared to $3.3 million of travel sold in 2022. The average sales figure has grown from $9.1 million in 2022, to $13.4 million in 2023.
As of July 31, 2023 (vs. the same time last year), preferred hotel room nights are up 38% over the same time last year. Domestic hotel stays with Signature’s preferred partners have leveled off from its pandemic growth but is maintained, while international hotel stays have continued to grow. Villas and private home rentals saw a boom during the pandemic, and interest in this accommodation type is waning only slightly, down 1% from last year.
Active and adventure travel provides the biggest opportunity for agency owners, according to Sharpe; the sector is up 68% year-over-year from last year, and for 2024 bookings, the niche is up 159% year-to-date vs. 2023.
The use of travel insurance is also skyrocketing, up 44% for 2023 over 2022; cruise is seeing a similar surge, up 47% this year over 2022, while land is up 14%.
Signature’s portfolio of preferred partners has had a few changes; after Dec. 31, 2023, Exeter International and Goss RV will no longer be preferred, while Abercrombie & Kent Spain and Portugal, Family Twist, Essence of Sicily, Titanium Tours and VIT Incoming will be added.
Trending Destinations for 2024
In terms of destinations, Europe is seeing a surge in interest, according to data from Signature’s Destination Specialist program. Other destinations are seeing a return to 2019 numbers (with the exception of Asia).
As he does every year, Maza took the stage at the Owners’ Meeting to give his list of top destinations for the coming year that attract “travelers” over “tourists.” They promote meaningful, respectful, authentic, sustainable and off-the-beaten path experiences.
Maza’s top destinations include:
- Jutland, Denmark
- Istria, Croatia
- Fez, Morocco
- Eastern Cape, South Africa
- AlUla Saudi Arabia
- Seoul, South Korea
- Chiang Rai, Thailand
- Queensland, Australia
- Great Barrier Reef
- South Island, New Zealand
- Northern Canada
- Los Cabos, Mexico
- The Atacama Desert, Chile
- Antarctica
- The Hawaiian Islands
Enhancements to Signature’s Technology Systems
Signature has spent more on technology in the last year than ever before, which Sharpe said was necessary to deepen the network's technology strength.
Karen Yeates, executive vice president of information and technologies for Signature, took the stage on Sept. 7 to share the newest tech tools available for members, and new projects in the pipeline. The network will soon transition from its own custom e-marketing system to Salesforce Marketing Cloud. A new, consumer-facing version of Sig Cruise Pro (Signature’s cruise ship booking engine) has just been released, with 51 cruise brands now live; and Signature’s technology team recently delivered Client Connection 2.0 (which now hosts 20 million consumer profiles and can be synced with CRMs beyond ClientBase — even an agency’s own proprietary systems). Details about a new Hotel Booking engine, created in partnership with NaviTrip, will be announced shortly.
And thanks to a partnership with texting tool Kipsu, Signature advisors will soon have the capability to take secure payments from clients via text and sync client communication within Client Connection 2.0.
A long-term goal for the network will be the rollout of a consolidated booking engine (in partnership with Odysseus Solutions) that incorporates supplier data from cruise lines, land operators, tour operators, insurance companies and more.
Yeates’ team is also looking to automate the process of onboarding new independent contractors.
Marketing Initiatives, Plus New Member Engagement Efforts
On the marketing front, Signature will now add to its portfolio of publications with the addition of an annual Travel Elevates magazine (Travel Elevates is Signature Travel Network’s nonprofit charity arm).
A new List Services Tool for e-marketing will allow members to select qualified recipients within any CRM, target clients based on behavioral data points, and act based on enhanced analytics and reporting data. Additionally, new themed microsites will be made available to members surrounding a variety of the topics. Groups, family travel, LGBTQ+ travel, exploration and private car/guides will be added as themes this year.
The Signature team is also relaunching Signature Embark, its training program for new-to-industry advisors.
This Level 2 of Embark is to elevate [the program] from just taking a few courses to making it a learning experience. We want to help them take their skills from fundamental basics to mastery.
Level 1 of the program, called “Independent Experience” is free for users and introduces agents to Signature and focuses on sales, consulting and professional fees (this level is for agents with fewer than two years of experience).
Next week, Level 2 will launch. Called “Mastering Sales Success,” the level will cost $299 for two years and will match a mentor and a Signature coach with each mentee to guide them down a nonlinear growth track. This level will include a travel industry overview and modules on vacation planning, customer service, professional fees, sales and consulting, Signature partners, Signature marketing and Signature technology. An online peer-to-peer community is also in the works.
“This level 2 of Embark is to elevate [the program] from just taking a few courses to making it a learning experience, said Nolan Burris, talent development consultant for Signature. “We want to help them take their skills from fundamental basics to mastery.”
Sharpe also encouraged members to engage with Signature Circles, which was introduced to identify top experts in a variety of travel niches (called “circles”) to be paired with other advisors who are hoping to develop more in those areas. Additionally, Signature Exchange Groups — quarterly networking calls introduced during the COVID-19 pandemic — allows agency owners to learn from each other by sharing best practices and business solutions in a virtual environment.
Looking Ahead
Next year, Signature will move its Owners’ Meeting to Montreal, Canada. The co-op’s sold-out annual conference will take place Nov. 6-9, 2023, at the Venetian Las Vegas and will attract 2,276 members.
