The company said the move followed strong summer sales with UK passenger volumes increasing by 5%, and hotel occupancy rates averaging 98% over the period.

The plans include upgrading its hotels, with the company having already invested almost £8 million in refurbishment over the past two years.

By the end of 2017, more than half of the operator’s 4,000 hotel rooms across the UK will have been fully refurbished.

Shearings has also announced plans to launch a trade initiative entitled “Shearings Educational Experience programme”, which is designed to raise awareness and educate agents about the destinations and experiences available to customers across the UK and Europe.

As part of the programme, which launches early next year, Shearings said it would work closely with its partners and tourist boards to offer several bespoke experience breaks for agents and their partners, showcasing the company’s range of exclusive UK hotels, river cruise ships and escorted tours.

Caroline Brown, commercial director at Shearings Holidays, said: “Consumer confidence appears to be on the up, and in response to this we’re constantly investing in developing and refreshing our portfolio of products to remain relevant to the over-50s market.

“We’re introducing a raft of enhanced added-value services to further strengthen our market position. We believe that the ability to adapt in an ever-changing market place, is integral to further growth”