Typically, the Power List is comprised of travel companies that certify that their previous year's gross travel sales surpassed the $100 million threshold. But in 2021, Travel Weekly froze the rankings of the list; we knew 2020 reported sales would be anomalous, to say the least, and we wondered how many agencies would even be able to meet the minimum sales threshold to qualify for inclusion.
This year's list is based off of last year's list; to qualify for the 2020 Power List, a company had to have a minimum of $100 million in travel sales in 2019. For purposes of that survey, sales were defined as gross sales of travel products worldwide, whether to consumers or to corporate travelers; the company must have been the merchant of record on the transaction from a supplier's perspective. At least 15% of the sales volume must have been generated in the U.S.
This year, instead of asking Power List agencies for their gross travel sales, we asked them to disclose the percentage of their sales decline in 2020, within five points.
There were also several open-ended questions about recent and planned developments to which companies could reply in any way they felt appropriate, and this year we specifically asked companies about their response to the pandemic. Our goal was to show the various business decisions of multimillion-dollar travel agencies, from applying for PPP loans to business restructuring and tapping into new revenue sources. Responses determined the length of the profiles that accompany each agency.
This year's questionnaire was sent in February to companies that had appeared on the list in 2020, and responses were collected by early May. The list was published June 21.
As has been the case for years, Travel Weekly requested that questionnaire be certified by a company's owner, CEO or CFO. In a small number of cases, certification was made by an executive at the vice president level but with financial oversight.
Some companies that qualified opted not to participate; see our introduction as well as "A note on Booking Holdings." One Power List company, Travel & Transport, does not appear on the list because it was acquired in 2020 by Corporate Travel Management. In addition, Short's Travel Management and Balboa Travel declined to participate, but we kept their names on the Power List to show their position when rankings were frozen.
Travel Weekly did not accept new submissions for the Power List, but companies who believe they may qualify for the list can email us at [email protected] to request a questionnaire for the 2022 list.