You asked for it and we listened. In this column, we ask operators of all sizes and from all walks of the industry a question about their business and report their answers so you can assess how your own company compares to your peers. If you would like to participate, please email Rob Smentek at rob@chauffeurdriven.com for next issue’s question.
TOPIC: What percentage revenue did you see year-over-year for 2024 over 2023, and what sectors are growing the most?
We experienced extraordinary growth in 2024, with a 25-percent increase in revenue compared to 2023. This growth was fueled by the expansion of farm-out partnerships, a steady increase in retail bookings, and the successful acquisition of new contract work. These milestones reflect our commitment to delivering exceptional service and building strong relationships with both clients and affiliates across the industry.
Karl Guenther, President/CEO
Statement Limousine in Sheffield Lake, Ohio
I am happy to report that our year-over-year increase is currently 23 percent, which included the worst October that I can remember due to two hurricanes that impacted our area. Currently, our December is super busy, and I anticipate making up some of the losses from October. Tourism numbers are still down, but I’m hoping they will recover soon. Overall, our biggest growth sector was in group events, golf resort trips, and airport transfers. Also, increasingly adding to our bottom line is farm-out work for our local clients traveling worldwide. We are optimistic about the next few years’ growth.
Thomas Halsnik, President
Walsh Chauffeured Transportation in Tampa, Fla.
We grew about 15 percent from 2023 to 2024. All the growth was 100 percent in convention business and sporting events. The Dallas/Fort Worth area was lucky to have a lot of large events this year and a lot of them popped up for ground transportation needs at the last minute, and we were able to secure those.
Matthew Johnston, President
AJL International in Irving, Texas
After looking at the past two years in the transportation industry, it seems to have served as a crucial barometer for understanding the broader economic recovery in the post-pandemic world. Fluctuating revenue growth, in different categories from 11 to 42 percent, reflects the uneven path for the travel industry. These fluctuations are influenced by various factors, starting with consumer behaviors. As corporate business adapts to hybrid work models and reshapes the workplace environment, this has caused changes in commuting patterns, impacting transportation systems, and the demand for corporate travel. As employees continue to balance remote and in-office work, transportation needs and patterns have evolved, signaling a slower but steady redefinition of the corporate landscape.
Hopefully, by the end of the year, businesses will gain clarity on the direction in which they are headed. While some industries may have settled into more consistent growth, others are still struggling with the impacts of these fluctuations. The challenge lies in interpreting short-term ups and downs while aligning them with long-term trends to guide decision-making and business strategies. For businesses, the key will be to balance the results of our year-end numbers. While understanding how these new patterns will impact operations as they move forward in an unpredictable economic landscape.
Len Joseph, President
On The Town Limousines in Frederick, Md.
Our 2024 revenue is up about 10 percent compared to 2023 YTD. While the growth has slowed from the post-COVID surge, it’s more of a leveling off, as expected. One bright spot is the over-the-road tours sector, which has shown strong growth. We’re optimistic this will become a significant revenue driver, especially with the return of travel tours from South America, Europe, and hopefully Asia soon.
Stefan Kisiov, President
K&G Coach Line in Park Ridge, Ill.
Right now, we are up 15 percent overall for the year. We have done fewer trips overall but our average revenue per trip is up by 35 percent this year, which is a matrix that I pay attention to every month. Our airport transfers are down this year as I have really concentrated on large events with multiple shuttles using our luxury Sprinter and Transit vans. I will continue this sales philosophy into the new year with several new lucrative contracts already signed and sealed in our area. I expect to double our revenue in 2025.
Kevin Mullane, Owner/Operator
Silver Oak Transportation in Hilton Head Island, S.C.
We are having a banner year this year. We’re up about 25 percent this year—which also included buying another small company, so it’s a higher-than-usual growth. Airport transfers continue to be solid and growing. Contract work is also a growth market for us. Next year, we are adding new services and are very excited about it!
Tracy Salinger, President
Unique Chauffeured Transportation in Harrisburg, Pa.
Our sales have gone up by 6 percent. But with higher insurance costs and buying a bunch of new vehicles and, therefore adding more car payments and other small expenditures, I guess our profit revenue is slightly down from last year. The bigger vehicles (i.e., Sprinters and buses) have definitely seen an increase in revenue sales. Thanks to our monthly reports by Ken Lucci of Driving Transactions, we know that we have the answers to better prepare for 2025.
Jess Sandhu, Director of Operations
A&A Limousine & Bus Service in Kenmore, Wash.
2023 was an excellent year for us in little ol’ Wichita, Kansas. So, the fact that 2024 will be dangerously close to 2023 is a win in my book. It’s definitely going to be a photo finish, but I’m pleased. The two years have been very similar with all sectors performing about the same. I would love to have a three-peat in 2025.
Quentin Shackelford, Owner
AllClassLimo.com in Wichita, Kan.
We anticipate a 38 percent year-over-year revenue growth in 2024, both in Asia and globally. Geographically, the primary contributors to this growth are the increased farm-ins and farm-outs between Asian and GCC countries, followed closely by the rising demand in Japan.
Amy Yan, Co-Founder & Managing Partner
AmyExpress in Kowloon, Hong Kong
We’ve loved hearing your answers to our benchmarking questions—but we always welcome suggestions for future topics, too!
Send an email to rob@chauffeurdriven.com you just might see your query answered in our next e-News.
[12.19.24]