Though travel businesses are moving more towards a fee-based model, in most cases they should still be charging more, says an accountant who specialises in the sector.

Paul Davies, partner with OneTeam Chartered Accountants, says that many agencies are currently earning significant profits – as much in five or six months as they would have in a year pre-Covid. However that is on the back of the principals and their reduced teams working extremely hard and putting in longer hours than are sustainable.