May 2026
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Largest Travel Services Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
H.I.S. Group, KNT-CT Holdings, AirTrip, Alpico Group and Hanatour Japan.
 | H.I.S. Co Ltd is a Japanese tourism and leisure company. The company organises itself into six segments: travel business, Huis Ten Bosch Group, hotel business, transportation business, The Kyushu Sanko Group, and other business. The travel business segment, which contributes the vast majority of company revenue, includes the company's domestic and international travel agency operations including tours, cruises, honeymoons, and airline tickets. The Huis Ten Bosch Group, the second- largest contributor to company revenue, includes H.I.S.'s theme and water park operations. The company earns the majority of its revenue within Japan. | $6 | -37% | $482M | $916M | 0.4x | 6.3x | ||
| KNT-CT Holdings Co Ltd is a Japan-based company. It is provider of travel related services. It mainly offers domestic and foreign carriers and air flight forwarder. It offers planning for travelers visiting Japan from around the world. | $12 | +86% | $338M | $275M | 0.2x | 5.4x | ||
| AirTrip Corp engages in the online travel agency business in Japan. The company also provides tourism services. In addition, it offers IT offshore development project services, such as laboratory offshore development and BPO services. Further, the company engages in the investment business. | $5 | -8% | $123M | $39M | 0.2x | 1.6x | ||
| Alpico Holdings Co Ltd is engaged in the Planning, management and operation of group companies, with a focus on retail, transportation and tourism. | $1 | -4% | $92M | $224M | 0.3x | 5.8x | ||
| Hanatour Japan Co Ltd is an integrated travel company. It offers domestic and international travel, hotel booking, ticketing, and other services. Company services include arranging local hotels, restaurants, and buses, etc., for customer referrals from Hanatour Co., Ltd. (South Korea). It also handles a large number of made-to-order planned products, such as FIT and incentive (travel incentives), in addition to package tours (PKG). Planned products and arranged travel such as PKG, INCENTIVE, FIT, AIR & HOTEL from Asian countries. New business development with local agents in, for example, the Philippines, Vietnam, India, and Russia (the Far East), and Other Events like organize K-POP concert tours in Japan and overseas, and Others. | $5 | -31% | $61M | $69M | 1.5x | 5.5x | ||
| Adventure Inc engages in the provision of online travel services. It operates Skyticket and WANNATRIP website portals. The Skyticket website portal offers online ticket booking services for multiple airlines, both domestic and overseas. The WANNATRIP website portal offers package tours and cruise travel to various destinations. | $8 | -66% | $57M | $14M | 0.1x | (3.2x) | ||
| VELTRA Corp is an online tour and activity booking service company. The company connects travelers to distinctive local experiences across the world and has branches in Honolulu, London, Paris, and Malaysia. | $1 | -56% | $32M | ($956K) | (0.0x) | (0.5x) | ||
| Median | $5 | -31% | $92M | $69M | 0.2x | 5.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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