Loveholidays Posts £344.5M Revenue and 33% Margin on Dynamic Packaging

Loveholidays, a privately held UK company little known outside Britain, is a large and profitable dynamic-packaging OTA, according to Skift's analysis of its filings.

It sold £3.4 billion ($4.5 billion) of holidays in the year to October 2025 by combining flights and hotels at the moment a customer searches. Per Companies House filings and company answers to Skift, FY2025 revenue rose 25% to £344.5 million ($456 million) and adjusted EBITDA rose 39% to £112.7 million ($149 million), lifting the margin from 29% to 33%. Bookings rose 15% and transaction value 17%.

Operating details

Marketing spend reached £143 million ($189 million), falling from about 45% to 42% of revenue. About 55% of bookings came from repeat customers, and about a third through the app, which has more than six million downloads. Supplier rebates and virtual-card payment volumes totaled £16.6 million, and technology investment was £12.1 million.

Versus On the Beach

On the Beach, public since 2015, reports nearly identical margins at roughly a third of the scale (£1.25 billion transaction value); Loveholidays is about 2.7 times larger by transaction value. Rafat Ali writes that it "didn't invent dynamic packaging — it built its muscle through scale," with the "big test ahead" being "whether it can replicate it in Europe."