Advisors Discuss the Evolution of Post-Pandemic Business

Five years after the pandemic, several advisors weighed in on how their businesses have evolved, noting that, among other things, their clients are now opting for vacations with significantly higher price tags.

“What was once in a blue moon is becoming more and more frequent. It’s common for me to see my team closing sales of $20,000, $50,000, $80,000 – and even over $100,000 vacations coming across my desk,” said Acendas Travel Vacation Division Director JoAnne Weeks.

“It’s unreal. These discerning clients with the disposable income have planned ahead and are making travel a priority. They aren’t bothered by the increase at the pump or at the grocery store like the majority of the working-class travelers. We’re seeing less of the vacations under $4,000.”

Soaring Sales

In 2020, Ralph Iantosca, owner of Iantosca Travel, an affiliate of Travel Experts, implemented a new business model, including an annual travel subscription. “I have a separate group business with safari and expedition cruising,” he said. “Q1 2025 is at $3.5 million in gross sales for my bookings, and there are nine more months left. The demographics of who I work with have been a much wealthier type of client since 2020.”

Iantosca said he now is selling more ultra-luxury products like TCS private jet trips, Royal Scotsman ultra luxury suites, Les Bateaux Belmond charters and the very top accommodations at such properties as Four Seasons.              

“I no longer offer everything to everyone and have downsized the number of suppliers I work with and upsized my relationships,” he said. “Now that I manage each client’s bucket list, I design the travel plans when we first meet. I then can manage and execute all the details.”

Last-Minute Booking Requests

While VIP Vacations President Jennifer Doncsecz said the agency is selling more expensive vacations post pandemic, the most significant change in her business is the large number of last-minute booking requests. “Clients are ready to drop $10,000-plus  to vacation in the next three months – and to Europe!”

She added, “This could be because COVID forced so many people to cancel vacations that they had been looking forward to for a long time, and now five years later, they are still worried about world events and still remember the disappointment of having to cancel a vacation they had planned far in advance.

What’s Selling

Doncsecz noted VIP is selling “more customized and curated vacations in Europe vs pre-pandemic escorted/guided tours.” 

“In addition, these curated/customized European vacations are being booked two-to three months prior verse the requests we saw pre-pandemic for Europe, which tended to be eight-to-10 moths prior,” she said. “We have also seen wedding groups book under 15 months prior to their wedding, and pre-pandemic we found 18-24 months prior was the norm.”

VIP is also “seeing more exotic vacations and European vacations than we did pre-pandemic,” Doncsecz said. “Perhaps this is because the pandemic was a wake-up call to many that life is short and adventures fuel the soul!”

VIP is also booking large groups, including those celebrating milestone birthdays and vow renewal groups. “We have seen unique multigenerational groups where the grandparents pay for five-to-10 rooms, but instead of going to an all-inclusive, they are going on a safari or traveling to Europe as a group,” she said. “We have also had more upscale/luxury vacations to exotic destinations like the Maldives, Africa and Japan. 

Revamping Business Models

During the pandemic. Acendas “really strengthened our team and made the tough decision to only bring back those who were truly sales professionals,” Weeks said.

“We were a lean team to begin with, but we definitely made the right decision to not bring some of the team back. We changed their compensation from salary plus bonus to 100 percent commission only.

“We also designed their commission split to be very robust in order for them to make a great living doing what they love, and to also help ensure they would stay with us long term.”

Acendas also “moved everyone to working remotely – we already had several who were already there, so it made it an easier transition – and  we eliminated two of four office locations and implemented a flexible work schedule,” Weeks said. “Giving them the freedom to work when it suited them best made a world of difference in office morale.”

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