Panorama Travel & Service

What Panorama Travel & Service does

Panorama Travel & Service (legal name: Turističko preduzeće Panorama DOO, Beograd – Stari Grad) is a privately held Serbian travel agency and tour operator founded in 1990 in Belgrade. The company sells domestic and international tour packages, airline tickets, and hotel accommodations, with a documented specialization in wellness & spa destinations across Slovenia, Hungary, Croatia, and Serbia. It is an IATA-accredited agency (since 1994) and holds a Category A tour operator license (OTP 90/2021), enabling it to organize and retail packaged travel.

The company's technology stack centers on the Amadeus Global Distribution System for flight inventory — implemented online in 2006, which the company cites as a regional first — supplemented by phobs.net and neolab.hr iframe-based booking widgets for hotel availability. Distribution is multi-channel: a single physical office in central Belgrade, an online inquiry-based website, social media (Facebook, Instagram, LinkedIn, X), an email newsletter, and a sub-agent reseller network across Serbia. The agency offers a corporate and diplomatic travel practice with dedicated agents and serves NGOs, plus a gift voucher program and a Uniqa insurance partnership for travel health coverage.

Revenue is generated primarily through transaction-based commissions and markups on airline tickets, tour packages, hotel bookings, and ancillary add-ons (insurance, vouchers). Long-term corporate clients settle via bank transfer (RSD or foreign currency) with installment payment options available. The company reports approximately 10 employees, no disclosed funding, no parent company, and no subsidiaries. Founder/Director Aleksandar Karadžić remains in operational leadership.

Name

Panorama Travel & Service

Legal name

TURISTIČKO PREDUZEĆE PANORAMA DOO, Beograd – Stari Grad

Website

https://agencijapanorama.rs

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1–10 employees

Short description

Panorama Travel & Service is a Belgrade-based Serbian travel agency and tour operator founded in 1990, specializing in wellness & spa packages, Adriatic tourism, and corporate/diplomatic travel, with IATA accreditation and Amadeus GDS airline ticket sales.

Ownership category

akta.pro rank

Product category

Travel Agency & Tour Operator Services

NAICS

Travel Agencies (561510), Tour Operators (561520), All Other Travel Arrangement and Reservation Services (561599)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Island, Beach & Resort Travel Agencies (THAKAFAL)

akta.pro secondary industries

Online/Hybrid Corporate Travel Agencies (Self-Booking + Support) (THAKACAB), Luxury & Premium Leisure Travel Agencies (THAKABAC), Business Travel & Executive Itinerary Management (HSACAKAJ)

Keywords

• Travel agency services
• Tour operator packages
• Wellness spa travel
• Corporate travel management
• Airline ticket booking

Headquarters

HQ city

Beograd (Belgrade)

HQ country

Serbia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Tourist Package Sales: Commission and markup on organized travel packages including hotels, transportation, and wellness & spa destinations in Serbia and the region.
2. Airline Ticket Sales: IATA-accredited agency selling airline tickets through Amadeus GDS. Revenue generated from ticket sales commissions.
3. Business Travel Services: Specialized corporate travel services including hotel reservations, transfers, congress and fair attendance, for domestic and foreign companies and diplomatic missions.
4. Travel Insurance: Sale of travel insurance policies, including international travel health insurance in partnership with Uniqa.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Panorama Travel & Service is a Belgrade-based tour operator and IATA-accredited travel agency that organizes and sells individual and group travel packages domestically and internationally. The company books hotels (access to 450,000+ properties worldwide), sells airline tickets through the Amadeus GDS, and specializes in wellness and spa destinations across Serbia, Slovenia, Croatia, Montenegro, Hungary, and long-haul markets such as the Maldives. It also delivers dedicated corporate travel management for businesses, diplomatic missions, and NGOs.

Product overview

Panorama Travel & Service is a tour operator and travel agency offering a comprehensive portfolio of travel services. The core offering consists of tour packages (turistički aranžmani), flight ticket sales via Amadeus GDS, hotel accommodations across 450,000+ hotels worldwide, and specialized wellness & spa travel. The portfolio includes business travel services, travel insurance, gift vouchers, and a subagent program. Key product lines include summer travel (letovanje) on the Adriatic coast, winter travel (zimovanje) to ski resorts, far destinations (daleke destinacije) like the Maldives, and wellness & spa packages. The agency operates with an OTP license (category A, license 90/2021) and YUTA membership, serving both individual and corporate clients since 1990.

Differentiator

Problem solved

Functional benefit

Products and services

• Wellness & Spa Travel Packages Specialized wellness and spa travel packages to thermal spas, health resorts, and relaxation facilities in Serbia, Slovenia, Montenegro, Croatia, Bosnia and Herzegovina, and other European destinations.
• Airline Ticket Sales (Avio Karte) Sale and reservation of international and domestic flight tickets through the Amadeus Global Distribution System. The agency has been an IATA-accredited agent since 1994.
• Hotel Accommodation Booking Hotel booking services across 450,000+ active hotels worldwide, covering 2- to 5-star properties in Serbia, Slovenia, Montenegro, Croatia, Hungary, and the Maldives.
• Tour Packages (Turistički Aranžmani) Organized individual and group tour operator packages including summer, winter, and far-destination travel with transport, accommodation, and arrangements.
• Business Travel Services (Poslovna Putovanja) Dedicated corporate travel services including hotel reservations, flight bookings, transfers, congress and fair attendance, and corporate event travel for domestic and foreign companies, diplomatic missions, and NGOs.
• Travel Insurance (Putno Osiguranje) Travel and health insurance policies, including international travel insurance from Uniqa covering medical emergencies, accidents, and hospitalization during international travel.
• Travel Gift Vouchers (Poklon Vaučer) Gift voucher program redeemable for specific travel packages, destinations, and periods including honeymoons, short excursions, wellness packages, and far-destination travel.
• Far Destination Packages (Daleke Destinacije) Long-haul exotic travel packages including Maldives island resorts, Caribbean destinations, and Middle East travel with customizable nights, hotel category, and airline selection.
• Winter Ski Travel (Zimovanje) Ski resort packages in Serbia (Zlatibor, Kopaonik, Stara Planina), Slovenia (Kranjska Gora), and Bosnia (Jahorina) with first-minute discounts, ski pass inclusions, and luxury transfers.
• Summer Beach Travel (Letovanje) Summer vacation packages along the Adriatic coast in Slovenia, Croatia, and Montenegro, including beach resorts, package tours with transport, and individual Mediterranean arrangements.
• Subagent Partnership Program Partnership program enabling registered subagents to resell Panorama's tour operator products, hotel reservations, and flight tickets under Panorama's organization, requiring APR Tourism Registrar registration.

Named customers3 records

Segments4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

13 partnerships are on record, tiered core, major and minor.

• YUTA (Yugoslav Union of Travel Agencies)coreStrategic or Co-development PartnerThe agency has been a member of YUTA since its founding in 1990. YUTA is the national association of travel agencies in Serbia, providing industry representation and standards.
• IATA (International Air Transport Association)coreTechnology or IntegrationSince 1994, the agency has been a member of the international air transport association, enabling airline ticket sales through global distribution systems.
• AmadeuscoreTechnology or IntegrationGlobal distribution system partner enabling online airline ticket reservations. In 2006, the agency implemented Amadeus software for online flight bookings, becoming the first in the region to sell airline tickets over the internet.
• Valamar HotelsmajorChannel Partner/ Reseller/ DistributorFeatured hotel partner with multiple properties across Croatia (Poreč, Istria region). Hotel chains include Valamar Riviera, Marea Collection, and parent company Riviera holds Blue Flag certifications for beaches.
• LifeClass Hotels & ResortsmajorChannel Partner/ Reseller/ DistributorFeatured hotel partner with wellness-focused properties in Portorož, Slovenia. Part of the Hit Alpinea resort group offering spa and wellness services.
• Terme OlimiamajorChannel Partner/ Reseller/ DistributorFeatured wellness spa partner in Slovenia. Offers thermal water treatments and spa services at their resort in the Šmarješke Toplice area.
• Terme ČatežmajorChannel Partner/ Reseller/ DistributorFeatured partner with Slovenia's largest thermal spa resort. Located near the Sava River, offers indoor/outdoor pools and wellness facilities.
• Terme LaškomajorChannel Partner/ Reseller/ DistributorFeatured thermal spa partner in Slovenia. Known for wellness treatments, thermal pools, and beer-themed spa experiences.
• Falkensteiner HotelsmajorChannel Partner/ Reseller/ DistributorFeatured luxury hotel partner with premium properties across the Adriatic region, known for family-friendly resorts and spa facilities.
• Hunguest HotelsmajorChannel Partner/ Reseller/ DistributorFeatured partner with Hungarian hotel chain offering properties in Budapest, Szeged, and Morahalom with spa and wellness facilities.
• Uniqa InsurancemajorChannel Partner/ Reseller/ DistributorInsurance partner providing travel health insurance policies. Agency offers Uniqa international travel insurance to clients.
• Terme KrkaminorChannel Partner/ Reseller/ DistributorPartner spa destination in Slovenia featuring thermal pools and wellness services in the Krka valley region.
• Sava Turizam (Savatzurizem)minorChannel Partner/ Reseller/ DistributorSlovenian tourism partner with wellness and spa hotel properties in the Portorož area.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Booking Holdings: Parent of Booking.com, Priceline and Agoda. Represents the principal OTA-side competitive pressure on traditional retail travel agencies like Panorama, especially in hotel and ground arrangements.
• Expedia Group: Major OTA group (Expedia, Hotels.com, Vrbo) competing with Panorama for online leisure travel bookings and corporate travel tooling, particularly in the EMEA region.
• TUI Group: Global tourism conglomerate operating tour operators, airlines and hotels across Europe. Competes broadly with Panorama in packaged leisure travel but at vastly larger scale and with proprietary inventory.

Others

• Amadeus IT Group: Global distribution system and travel technology provider whose GDS Panorama uses to issue airline tickets. A critical technology enabler and ecosystem partner rather than a direct competitor.
• Hotelbeds: B2B bedbank and travel tech platform providing hotel distribution to travel agencies. Comparable as a supplier/competitor in the hotel inventory layer that Panorama relies on for its 450,000+ hotel offering.

Direct peers

• Big Blue Group: Serbian tour operator and travel agency headquartered in Belgrade, offering outbound tour packages, airline ticketing and corporate travel — directly comparable to Panorama in geography, product mix and customer base.
• Olympic Travel: Croatian travel agency and tour operator (referenced in Panorama's neolab.hr integration), offering Adriatic packages, wellness stays and corporate travel — comparable regional OTA-style agency competitor.
• Asterias Travel: Serbian travel agency operating outbound tour packages, airline ticketing and corporate travel services, overlapping directly with Panorama's product portfolio in the Belgrade market.
• Odeon Travel (Serbia): Serbian travel agency and tour operator offering leisure packages, wellness trips and corporate travel across the Balkans — directly comparable scale, product mix and customer segments.
• Kontiki Travel: Belgrade-based Serbian travel agency and tour operator with IATA accreditation offering leisure packages, wellness stays and corporate travel across the same regional destinations as Panorama.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/panoramabgd
• Facebookfacebook.com/AgencijaPanorama
• LinkedInlinkedin.com/company/panorama-travel-&-service
• Instagraminstagram.com/agencija_panorama_beograd

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panorama Travel & Service