ASMALLWORLD Full Year Results 2023: Highest Revenue on Record, Higher Net Income and Strengthened Balance Sheet


ASMALLWORLD AG / Key word(s): Annual Results

14-March-2024 / 06:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

ASMALLWORLD Full Year Results 2023: Highest Revenue on Record, Higher Net Income and Strengthened Balance Sheet

Zurich, 14.03.2024 – ASMALLWORLD AG celebrates a remarkable 2023 fuelled by robust growth and strategic expansions. Sales grew by 15% and reached a new record high of CHF 21.2 million, while net income grew by 5%. At the same time, outstanding debt was reduced by 54%, resulting in a strengthened balance sheet. Expansion initiatives, including the ongoing growth of the ASMALLWORLD Collection, the newly launched ASMALLWORLD DISCOVERY and the acquisition of Jetbeds, further underscore ASMALLWORLD’s ambition for a leadership position in global luxury travel.

With the pandemic in the rear-view mirror, ASMALLWORLD once again saw a record year in terms of sales, which soared by 15%, reaching CHF 21.2 million. While EBITDA slightly decreased by 16% to CHF 2.1 million, the net result increased by 5% to CHF 1.53 million. Dividends from the Global Hotel Alliance investment contributed to this increase, as well as favourable FX conditions and reduced interest payments. The member base grew by 6% to a total of 70,200 members.

In terms of business unit performance, the Subscriptions segment saw a 13% increase in net sales to CHF 14.8 million, while the Services segment experienced a robust 20% growth to CHF 6.5 million, following limited growth in the previous year. Notably, the ASMALLWORLD Collection witnessed a remarkable 29% increase in bookings, alongside a resurgence in First Class & More's business and first-class flight package sales.

"We are excited to deliver another year of growth for ASMALLWORLD, an increase in net profit, and a stronger balance sheet than ever," commented ASMALLWORLD CEO Jan Luescher.

Subscriptions Grew by 13% Based on Continued Demand for ASMALLWORLD Prestige & Signature Memberships

The Subscriptions segment saw a 13% increase in net sales, reaching CHF 14.8 million, driven by strong demand for ASMALLWORLD’s premium memberships, Prestige and Signature. Notably, the segment was buoyed by the first full-year contribution from the Emirates miles option, reflecting ASMALLWORLD's commitment to enhancing member benefits and travel experiences.

ASMALLWORLD's member base expanded by 6% to 70,200 members, demonstrating robust growth and retention efforts. The company's dedication to providing members with travel inspiration, exclusive privileges and ways to meet other members continues to attract new members, while solid retention rates underscore the enduring loyalty within the ASMALLWORLD community.

First Class & More, the group’s smart luxury travel business, experienced solid demand for its entry-level Gold and Platinum memberships, but conversions to its top-tier Diamond membership slowed this year.

The World’s Finest Clubs, the world’s leading nightlife concierge, is regaining momentum and gradually increasing its customer base after the pandemic-induced downturn. With a fully redesigned website and an expanded network of global nightclubs, The World’s Finest Clubs is poised to reclaim its position as the premier destination for nightlife experiences worldwide.

Services Grew by 20% with Prior Investments Paying Off

In a notable turnaround from the previous year, the Services segment surged by 20% in 2023, reaching CHF 6.5 million, highlighting the efficacy of strategic investments and focused efforts.

The ASMALLWORLD Collection witnessed a remarkable 29% increase in bookings, showcasing its growing popularity and enhanced offerings. Notably, customer loyalty remained robust, with 43% of clients booking at least twice during the year, underscoring the platform's enduring appeal and customer satisfaction.

ASMALLWORLD Hospitality secured a significant victory for its client, Murbee Resorts, by facilitating a deal with Rosewood Hotels & Resorts® to establish the first Rosewood hotel and residences on the island of Barbuda. This achievement underscores ASMALLWORLD's pivotal role in brokering the deal and coordinating the resort's development, further solidifying its position as a trusted advisor in the hospitality sector. At the same time, the legal dispute with MAG of Life, a previous client, persists following their unexpected termination of the consulting contract for the Ritz-Carlton Residences in Dubai.

The ASMALLWORLD social network experienced a surge in in-person events, with a 31% increase from 654 events in 2022 to 856 events in 2023, indicative of renewed enthusiasm for physical gatherings. As online events were purposefully reduced to prioritise in-person experiences, the company remains committed to maintaining a hybrid event schedule, catering to diverse preferences, and fostering meaningful connections within its global community.

Healthy Balance Sheet – Debt Reduced by 54%

After achieving self-funding status in 2022, ASMALLWORLD further fortified its financial position in 2023 by substantially reducing its debt by 54% year-on-year. The company's outstanding debt now stands at CHF 4.2 million, down from CHF 9.1 million at the end of 2022. This significant reduction was largely facilitated by a successful capital increase in October, which saw the creation of 2.7 million new shares, bolstering ASMALLWORLD's financial resources for debt repayment.

With debt now at a level lower than its cash and short-term investment positions combined, ASMALLWORLD maintains the flexibility to opt for debt-free status, reinforcing its commitment to sound financial management and long-term sustainability in the luxury travel market.

ASMALLWORLD DISCOVERY and Jetbeds Added to the ASMALLWORLD Portfolio

ASMALLWORLD expanded its offerings with ASMALLWORLD DISCOVERY and Jetbeds, continuing its effort to diversify its revenue streams.

ASMALLWORLD's strategic acquisition of a 10% stake in Global Hotel Alliance (GHA) in late 2021 signalled a period of new opportunities. With over 800 hotels and more than 25 million customers, the GHA DISCOVERY loyalty programme offers complimentary access to ASMALLWORLD's community for its top-tier memberships, providing an avenue for expansion. The launch of ASMALLWORLD DISCOVERY in April 2023 introduced independent hotels to the GHA DISCOVERY platform, further diversifying the company’s revenue streams. By the close of 2023, this initiative had garnered traction, with 18 hotels embracing the service, underscoring its promising potential. Moreover, the financial investment in GHA as a company proved lucrative as well, with GHA disbursing a USD 300,000 dividend to ASMALLWORLD in 2023, further contributing to the company's favourable 2023 results.

In a strategic move to enhance its online travel booking capabilities, ASMALLWORLD acquired in November 2023., a premier online flight booking platform specialising in First and Business Class flights from top-tier airlines, will complement ASMALLWORLD’s existing online hotel booking offering. While will maintain its independent operation, ASMALLWORLD envisions integrating flight bookings seamlessly into its ASMALLWORLD and First Class & More apps and websites in the future, aligning with its commitment to innovation and growth.

Outlook for 2024: Steady Growth and Investments

For 2024, ASMALLWORLD’s management is keeping its focus on growth but also on the diversification of its product offering. Some ongoing initiatives, like the reconfiguration of ASMALLWORLD’s membership structure, the scale-up of the ASMALLWORLD Collection and ASMALLWORLD DISCOVERY, as well as the integration of will require short-term investments before they will be able to contribute significantly to the company’s results. As a result, the management expects a steady increase in sales to the range of CHF 23 to 25 million and EBITDA to temporarily decrease to CHF 1.0 to 1.2 million for 2024, reflecting the required investments into the business for long-term success.

“While our revenue growth for 2023 was solid, there are many ongoing initiatives that will require attention and resources before they can become more significant revenue contributors in the future. As a result, we want to manage expectations, that 2024 will be seen by us as an investment year to set ourselves up for stronger growth and success in the long run,” commented ASMALLWORLD CEO Jan Luescher.

Earnings Call and Further Information

ASMALLWORLD CEO Jan Luescher will hold a conference call later today, March 14th, to provide additional details and commentary regarding the 2023 results. The call will take place at 15:30 CET.

To participate in the call, please register beforehand via the following link:

After registration, participants will receive a confirmation email with individual dial-in data.
The full 2023 Financial Report as well as the presentation for the 2023 Earnings Call are available for download on the ASMALLWORLD AG website at:


This press release can be found at


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



ASMALLWORLD is the world’s leading travel & lifestyle community, focusing on experiences: the modern-day definition of luxury.

Centred around the ASMALLWORLD social network, the company operates a digital travel & lifestyle ecosystem that enables and inspires members to travel better, experience more and make new connections.

Members of the ASMALLWORLD social network connect through its app and website, where they can meet other members, engage in online discussions, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges.

Members also meet in person at over 1,000 global ASMALLWORLD events every year, ranging from casual get-togethers in major cities around the world, access to exclusive launches, shows, galas, soirees, exhibitions, major global sporting events and larger flagship weekend experiences hosted in iconic destinations such as Saint-Tropez.

Other businesses in the ASMALLWORLD travel & lifestyle 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 Private, a high-end travel agency offering personalised travel curation services.

ASMALLWORLD Hospitality, a hospitality consulting 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.


For more information, please visit:



Jan V. Luescher, CEO
Seidengasse 20
8001 Zurich



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.


End of Inside Information

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