Intrepid Hits Record 2025 as Growth Meets a Tougher 2026

Intrepid Travel said that it recorded the best performance in its 37-year history, with growth across revenue, profit, and customer satisfaction.

According to its 2025 Integrated Annual Report, bookings reached $873.3 million, up 26 percent year over year, while revenue rose 29 percent to $809.3 million.

Underlying EBITDA increased 26 percent to $53.9 million, and Net Promoter Score reached 83, the company’s highest ever.

European acquisition helped drive growth

One of the main reasons behind the stronger result was Intrepid’s acquisition of Dutch tour operator Sawadee Reizen in early 2025.

The company said the deal would add around $100 million in revenue, 20,000 customers, and about $5 million in EBITDA. It also made the Netherlands Intrepid’s fourth-largest source market after Australia, the US, and the UK.

The acquisition gave Intrepid a stronger position in continental Europe and supported its wider growth strategy. Rather than relying only on organic expansion, the company is also using acquisitions to enter new markets faster and build more scale.

Customer satisfaction stayed high as the business expanded

Intrepid said it served 317,880 travelers in 2025, a record for the company, while also reporting its highest-ever customer satisfaction score.

During the year, it added 100 new trips, 50 new experiences, and 29 new destinations.

Impact remained central to the company’s strategy

Alongside its financial results, Intrepid said The Intrepid Foundation disbursed a record $3.4 million to communities around the world in 2025, up 42 percent year over year.

The company also introduced a new five-year impact strategy and a climate action plan that includes a $2 million annual Climate Impact Fund starting in 2026.

The growth is strong, but risks remain

Despite the strong 2025 result, Intrepid is still dealing with disruption in 2026. In early March, the company said it had canceled departures to Egypt, Jordan, Oman, and Saudi Arabia because of tougher government travel advisories linked to military activity in the Middle East.

Recent disruption across Middle East airspace has shown how quickly conflict can affect airline schedules, connections, and tour operations far beyond the immediate region. For companies such as Intrepid, that means strong demand and record annual results still have to be managed against a much less predictable operating backdrop.

That pressure is not limited to one region. Intrepid has also recently suspended tours in Cuba through April 30 after the island’s worsening power crisis made travel operations harder to manage, showing that disruption can come not only from conflict and airspace risk, but also from infrastructure failures inside destinations themselves.

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