European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank4

Poland · Consumer Cyc.

Rainbow Tours

Organises package holidays, dynamically packaged trips, flights and other individual travel services.

+112%revenue growth
FY2022–FY2025
+1242%net-income growth
FY2022–FY2025
+856%stock return
FY2022–FY2025
+0.5%2026 stock return
current context only

Company profile

Trips, hotels and destination operations

Rainbow Tours designs and sells holidays ranging from all-inclusive beach stays and escorted long-haul tours to cruises. The listed parent reaches further into the journey through Greek hotel-property companies, destination services, overseas distribution and staff training. Its offer combines the consumer-facing Rainbow brand with a five-hotel White Olive-branded platform, an inbound Poland service and tools intended to keep travellers engaged before, during and after a trip.

Trips and holidays

From a beach stay to a continent-spanning itinerary

The winter 2026/27 programme adds direct services from Poland to Penang, Costa Rica, Puerto Vallarta and Mui Ne, alongside established touring products. USA – Oto Ameryka links New York, Las Vegas and the Grand Canyon; other formats include safari-and-beach combinations, all-inclusive resorts and escorted cruises.

Hotel platform

Five branded hotels sit over a two-company ownership structure

The White Olive site presents five branded hotels across Zakynthos, Rhodes, Crete and Kos. Rainbow directly owns 83.07% of White Olive A.E.; White Olive A.E. owns 100% of Ellas Star, making it Rainbow's indirect subsidiary. Both companies own Greek hotel properties. At Marine Aquapark, the exact pools page identifies the 1,869-square-metre Poseidon wave pool alongside theme, children's and adults-only pools.

Operating geography

A Polish operator with controlled businesses abroad

The parent controls a Turkish destination-services company and a Czech distributor, and owns 70% of Romanian tour operator Paralela 45. Its English-language Rainbow Incoming service also builds custom Poland programmes for travel professionals, from a seven-day southern route to Jewish-heritage, Chopin and Baltic itineraries; at home, Rainbow reports more than 100 sales offices.

Customer and service system

Training, loyalty and destination stories support the trip

Rainbow Academy, operated through wholly owned My Way, trains tour leaders, holiday representatives and leisure animators. Bumerang vouchers apply to eligible holidays, escorted tours and 7+7 trips completed while the customer participates; qualifying trips booked from 16 July 2024 before enrolment can also count when the traveller joins before departure. Separately bought optional excursions, charter tickets, group bookings and custom Elite trips are excluded. Filmowy Świat adds Polish-language destination series.

Current 2026 update

What is changing at Rainbow Tours in 2026?

Rainbow Tours is building a second-market presence through Paralela 45, adding four direct-charter destination programmes and turning a larger count of travellers covered by summer pre-sales into completed travel. The strategic question is whether controlled distribution and product design improve or dilute underlying travel economics.

Latest official evidence June and first-half revenue update Published 31 July 2026

The change in one sentence

The growth map now includes Romania and more direct control over the itinerary.

Rainbow is widening its customer and product map through a controlled Romanian operator, direct-charter programmes and an owned hotel platform. The test is whether pre-sold travellers become completed, profitable trips across different markets.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · The Romanian build

Paralela 45 creates a second distribution base, but comparisons need care

Rainbow owns 70% of Bucharest-based Paralela 45, which sells tours, flights, hotels and packages. Group revenue reporting has included Paralela 45 since August 2025. June 2026 group revenue was PLN 620.8m and first-half group revenue was PLN 2,041.1m. Rainbow notes that the cited 2025 comparison base did not include Paralela 45, so those group amounts do not provide a like-for-like growth rate.

  • Current signal70% stake · included in group revenue since August 2025
  • Why it mattersRomania can become a second customer and distribution market, but reported group growth does not by itself reveal Paralela's organic growth or profitability.
  • Capital group Rainbow Tours · checked 2026-08-28
  • June revenue Rainbow Tours · 2026-07-31

02 · The winter product

Four direct-charter programmes extend Rainbow's control over the journey

For winter 2026/27, Rainbow markets direct charters from Warsaw to Penang; from Warsaw and Katowice to Costa Rica via Liberia; and from Katowice to Puerto Vallarta and a Mui Ne-labelled holiday programme. The source page identifies destination programmes and does not name the arrival airport for Mui Ne. Rainbow combines the access with beach stays and touring routes rather than flight capacity alone.

  • Current signalPenang · Liberia · Puerto Vallarta · Mui Ne programme
  • Why it mattersRoute design and packaged itineraries can differentiate the offer before the traveller reaches a hotel, but the first season still has to prove demand and repeatability.
  • Winter exotic programme Rainbow Tours · checked 2026-08-28

03 · Reservation to revenue

More pre-sold travellers still have to become completed travel

Summer 2026 pre-sales through 30 June covered 511,857 people, 6.6% more than the comparable 480,351-person count for Summer 2025. Rainbow states that the sold offer becomes revenue from April to October as trips are performed. As separate company context, standalone June revenue was PLN 551.0m, up 12.7%, and first-half standalone revenue was PLN 1,906.1m, up 5.8%; these broader period figures do not measure conversion of the summer pre-sale cohort.

  • Current signal511,857 people covered by pre-sold trips · +6.6%
  • Why it mattersA tour operator commits transport and accommodation before travel. Growth in people covered by pre-sales is useful demand evidence but is not the same as completed trips, recognised revenue or margin.
  • Summer pre-sales Rainbow Tours · 2026-07-07
  • June revenue Rainbow Tours · 2026-07-31

04 · What to watch

Three questions for the next disclosures

Three questions test whether geographic and product expansion improves or dilutes travel economics.

  • RomaniaDo later reports separate Paralela 45 customer growth, revenue and profitability from changes caused by adding it to the consolidation scope?
  • The new routesAre Penang, Costa Rica, Puerto Vallarta and Mui Ne retained or expanded after their first winter season?
  • Booking conversionHow many people covered by summer pre-sales become completed trips, recognised revenue and margin after changes, cancellations and capacity costs?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY20254+112%+1242%+856%