ASMALLWORLD Full Year Results 2024: 26% Membership Growth Following New Membership Model Launch

ASMALLWORLD Full Year Results 2024: 26% Membership Growth Following New Membership Model Launch

Zurich, 13.03.2025 – In 2024, ASMALLWORLD AG completed its multi-year business model transformation by unveiling a new membership model alongside a refreshed visual identity. These strategic changes fuelled a 26% increase in membership, growing the community to 88,200 customers. This milestone reflects ASMALLWORLD’s commitment to redefining luxury travel while laying the foundation for future growth.

In 2024, ASMALLWORLD completed a multi-year business model transformation, laying the foundation for future growth. The company introduced a new membership structure for its ASMALLWORLD community and refreshed its visual identity, which resulted in a 26% increase in members, reaching 88,200 customers.

Net sales remained stable at CHF 20.9 million (vs. CHF 21.2 million in 2023), while EBITDA exceeded guidance, reaching CHF 1.4 million compared to the projected CHF 1.0–1.2 million. The company further strengthened its financial position, reducing outstanding debt from CHF 4.2 million to CHF 3.2 million, while cash and securities increased by CHF 1.0 million to 4.0 million.

In terms of business unit performance, the Subscriptions segment maintained steady net sales of CHF 14.7 million (vs. CHF 14.8 million in 2023), while the Services segment recorded CHF 6.1 million in net sales (vs. CHF 6.5 million in 2023), slightly impacted by fewer opportunities to sell flight upgrades for First Class & More. Meanwhile, the ASMALLWORLD Collection experienced strong growth, with the total value of stays increasing by 34% and the value of bookings rising by 43%. The ASMALLWORLD Collection portfolio expanded by 200 additional luxury hotels, further enhancing the company’s position in the premium travel market.

"We are proud to have successfully completed our multi-year business model transformation which will set ASMALLWORLD up for long-term success. At the same time, we grew our member base significantly and achieved an EBITA above our guidance," commented ASMALLWORLD CEO Jan Luescher.

Successful Business Model Transformation with New Membership Structure

In November 2024, ASMALLWORLD completed a multi-year business model transformation with the introduction of a new membership model, designed to drive member growth and expand monetization opportunities. The new model replaces the company’s previous paid-only approach with a free membership tier, allowing more users to join the community for free while maintaining premium offerings for those seeking exclusive benefits.

The free membership, launched on November 26, provides 90% of the functionality previously reserved for paying members. This shift aims to scale the user base and create a larger, more engaged community while preserving the essence of ASMALLWORLD as a luxury travel platform. By reducing the barrier to entry, ASMALLWORLD has already seen a surge in new members, growing its membership base by 26% to 88,200 customers within months of the launch. 

For members seeking an elevated experience, the new Premium membership offers additional travel privileges, access to exclusive events, preferred event pricing, enhanced privacy controls, the ability to search for members in other locations, and the option to create marketplace listings. Priced at the same level as the previous ASMALLWORLD membership, Premium ensures that existing paying members continue to receive valuable benefits. All former paid members have been seamlessly transitioned to this tier to maintain continuity. 

In addition to the Free and Premium tiers, ASMALLWORLD continues to offer its Prestige and Signature memberships for those who desire the highest level of personalised service and exclusive access. Each membership tier is designed to cater to varying needs and preferences, ensuring that members can enjoy the full breadth of ASMALLWORLD’s luxury travel offerings.

The new membership model not only enhances the accessibility of ASMALLWORLD but also creates fresh monetization opportunities. By welcoming members into the community for free, ASMALLWORLD can introduce them to premium services and upsell higher-tier memberships and travel offerings. This strategy has already proven effective, setting the stage for sustained growth and an expanded revenue base in the years ahead.

ASMALLWORLD Introduces a Refined Brand to Strengthen Luxury Travel Positioning

Alongside the launch of its new membership model, ASMALLWORLD unveiled a refined brand identity, reinforcing its position as a premier luxury travel community. This rebranding effort ensures that ASMALLWORLD presents itself as a more mature and sophisticated brand, aligning with its focus on high-end travel experiences.

The transformation includes a refreshed logo, an updated positioning strategy, and a more refined approach to brand communication. A new visual identity featuring elegant fonts and carefully curated imagery enhances the overall look and feel, creating a cohesive and aspirational aesthetic. The introduction of the new positioning line - Travel, Discover, Belong - further emphasises ASMALLWORLD’s commitment to fostering meaningful connections among discerning travellers.

The rebranding extends across all digital touchpoints, with the ASMALLWORLD app and website undergoing a full update to reflect the new identity. This strategic evolution ensures that every interaction with the brand aligns with its luxury positioning, providing a seamless and visually compelling experience for both new and existing members.

Building Scale in Luxury Travel with the ASW Collection and ASW Bespoke Travel

ASMALLWORLD continues to expand its footprint in luxury travel, with a strategic focus on scaling its travel services. A key priority is increasing bookings for the ASMALLWORLD Collection while simultaneously developing a stronger offline presence through the repositioned ASMALLWORLD Bespoke Travel service.

The ASMALLWORLD Collection saw significant growth in 2024, with the total value of stays increasing by 34% and the total value of bookings rising by 43% compared to the previous year. The addition of 200 new hotels brought the portfolio to over 1,700 carefully selected luxury properties. Notably, a growing share of bookings came from non-members, underscoring the potential for the new membership model to attract a wider audience. Improvements to the platform have also enhanced the customer experience, ensuring a more seamless and stable booking environment.

To complement its digital travel offerings, ASMALLWORLD has invested in expanding its traditional travel agency business. Formerly known as ASW Private, the service was rebranded as ASMALLWORLD Bespoke Travel to better reflect its highly customised approach. Two new travel designers have joined the team, with additional hires planned in the coming months. System upgrades have also been implemented to support a larger team, enabling ASMALLWORLD to scale its offline business effectively. This investment strengthens the company’s position in the luxury travel market while creating synergies with its online services, increasing overall travel volume and enhancing commission opportunities across all travel-related businesses.

Healthy Balance Sheet – Debt Reduced by 65% Over Two Years

ASMALLWORLD has continued to strengthen its financial position, further reducing its outstanding debt in 2024. After successfully lowering debt by 54% in 2023 (repaying CHF 4.9M and bringing total debt from CHF 9.1M to CHF 4.2M), the company took additional steps in 2024 to accelerate its debt reduction efforts. Over the past year, ASMALLWORLD repaid an additional CHF 1.0M, including the full early repayment of its COVID-19 government loan and a reduction of its bank loan, which now represents the last remaining debt position on the company’s books.

In total, ASMALLWORLD has reduced its debt by CHF 5.9M (65%) over the past two years, bringing total outstanding debt down to CHF 3.2M. This disciplined approach has lowered annual interest costs by CHF 200K and significantly strengthened the balance sheet. Looking ahead, ASMALLWORLD remains committed to further reducing debt, with plans to repay at least CHF 400K per year from 2025 to 2027, ensuring continued financial resilience and stability.

Zain Richardson to Succeed Jan Luescher as CEO in March 2025

ASMALLWORLD is preparing for a leadership transition, with Zain Richardson set to take over as CEO in March 2025, succeeding Jan Luescher. To ensure a seamless transition, Richardson and Luescher will work closely together in the coming weeks during a structured handover period.

Richardson brings a wealth of experience in the luxury and travel industries, having previously served as Chief Marketing and Customer Officer at Aero, a private jet airline. Before that, he was Chief Marketing Officer at Aman Group. His career spans senior commercial and marketing leadership roles at Marriott International, Wyndham Hotels & Resorts, Starwood Hotels & Resorts, and Expedia.

Academically, Richardson holds a BA and MA in English and French from Oxford University and completed his MBA at The Kellogg School of Management. His expertise in luxury travel and customer engagement aligns well with ASMALLWORLD’s strategic focus, making him well-positioned to lead the company into its next phase of growth.

Outlook for 2025: Scaling the Member Base and Unlocking New Revenue Streams

With the successful introduction of its new membership model, ASMALLWORLD is now focused on expanding its member base and unlocking new monetization opportunities. A larger audience will drive greater demand for ASMALLWORLD’s products and services, while also creating new revenue streams, such as third-party product sales and paid marketing campaigns for partners.

However, scaling the member base will require strategic investments in marketing, and it will take time for the new membership model and monetization mechanisms to reach their full potential. As a result, ASMALLWORLD remains cautiously optimistic for 2025 but is mindful that these initiatives will need time to mature before delivering their expected returns. The company will continue refining its strategy while prioritizing sustainable, long-term growth. For 2025, ASMALLWORLD is expecting net sales of 22 to 23 Mio. CHF and an EBITDA of 1.4 to 1.5 Mio. CHF while the member base is expected to grow to 120,000 to 125,000 members.

“We have successfully completed a multi-year transformation of our business, positioning ASMALLWORLD for long-term success. With a stronger brand, a significantly expanded member base, and new monetization opportunities, we are well-equipped to drive growth in the years ahead,” commented ASMALLWORLD CEO Jan Luescher.

Earnings Call and Further Information

ASMALLWORLD CEO Jan Luescher will hold a conference call later today, March 13th, to provide additional details and commentary regarding the 2024 results. The call will take place at 13:00 CET.

To participate in the call, simply join the call via the following link:

https://us02web.zoom.us/j/88673359756

The full 2024 Financial Report as well as the presentation for the 2024 Earnings Call are available for download on the ASMALLWORLD AG website at:

https://www.asmallworldag.com/financial-reports

This press release can be found at www.asmallworldag.com.

Definition of EBITDA as an alternative performance measure: Earnings before interest (including all financial income and expenses), taxes, depreciation, and amortization.
The ASMALLWORLD Group:

Centred around the ASMALLWORLD social network, the company operates a luxury travel ecosystem that serves discerning travellers and industry partners.

At its core, the ASMALLWORLD social network is the trusted community for modern luxury travellers, offering a platform to connect, share experiences and enjoy a wealth of travel privileges.

ASMALLWORLD members can engage through its app and website, receive travel inspiration, and meet in person at over 800 global ASMALLWORLD events every year, ranging from casual get-togethers, access to exclusive launches, galas, major global sporting events, and larger flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and St. Moritz.

Beyond the social network, the ASMALLWORLD Group extends into bespoke travel planning, luxury hospitality, and strategic B2B collaborations. Through its diverse portfolio, the Group fosters a like-minded global community, curated opportunities, and tailored solutions, shaping the evolution of luxury travel.

Other businesses in the ASMALLWORLD travel ecosystem include:

ASMALLWORLD Collection, a high-end online hotel booking engine focused on the world’s most admired hotels, offering the unique “ASMALLWORLD VIP Rate,” which allows customers to enjoy exclusive travel benefits at no extra cost.

ASMALLWORLD Bespoke Travel, a high-end travel agency offering personalised travel curation services.

ASMALLWORLD DISCOVERY, part of Global Hotel Alliance alongside 45 leading hotel brands, services independent hotels in providing access to the GHA DISCOVERY loyalty network

ASMALLWORLD Hospitality, a hospitality and management consultancy that supports owners and developers of hospitality assets throughout the different lifecycle stages of their assets, including acquisition, development, operations and exit.

First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices.             

The World’s Finest Clubs, the world’s leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world.

Jetbeds, a premier booking platform specialising in affordable Business and First-Class flights, offering exclusive deals, expert advice and personalised service.

For more information, please visit:

www.asmallworldag.com

www.asmallworld.com

www.asmallworldcollection.com

www.asmallworldbespoke.com

www.asmallworlddiscovery.com

www.asmallworldhospitality.com

www.first-class-and-more.de

www.first-class-and-more.com

www.finestclubs.com

www.jetbeds.com

Contact:

ASMALLWORLD AG
Seidengasse 20
8001 Zurich
Switzerland
info@asmallworldag.com

Disclaimer

The statements contained in this press release may constitute "forward-looking statements". Such can be identified, for example, by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," "target," "seek," or "aim," or the negative of these words or comparable expressions.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Issuer or its industry to be materially different from any future results, level of activity, performance or achievements expressed or implied by such forward-looking statements.

The issuer undertakes no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise.