Comments from the chairman – Bill Munro – also claim “many travellers are now rejecting online travel agents because of service issues”.

The firm’s parent company – Barrhead Travel 2007 – has posted its accounts up to the end of 2015, which show operating profit has leapt from £1.7 million in 2014 to £3 million.

The business confirmed last week it is now actively seeking a suitable investor to assist it in accelerating its "ambitious" growth plans and has appointed BDO to select a suitable partner, with vendor due diligence having already been completed.

Group turnover has risen from £246 million to £267 million and TTG reported this week that it understands projected turnover will be about

£300 million for 2016.

The chairman’s report reads: “Modernisation of all aspects of the business was completed in the year and the further recruitment of middle and senior management resulted in the strengthening of the structure of the business as we prepare for further expansion into England along with looking at global opportunities.

“In 2015 we continued to grow our workforce and invest in staff training.

“It has been reflected by many that good retail locations are again becoming the way forward, as there is a resurgence of customers wanting the security of dealing with a trusted brand when planning upmarket travel arrangements.

“We believe this is the way forward in a digital age where enquiries and research are undertaken on the web and quality bookings are made with people, unlike ’bucket and spade’ online bookings.

“The phone, visit or click approach is working well and this is undoubtedly the way to retain clients and transact sustainable business.

“Many travellers are now rejecting online travel agents because of service issues.”

The chairman’s report says a key focus of the company has been to develop the reporting and compliance "robustness" of the business.