Acquisition of business sees Frequent Flyers able to redeem points on TripADeal packages.
Qantas has just announced its expansion into the online holiday booking market, with the acquisition of 51% of TripADeal, along with an agreement to purchase the remainder of the company over a four year period.
QF joins existing shareholders BGH Capital and TripADeal’s founders Norm Black and Richard Johnston,with Qantas CEO Alan Joyce saying “this is a great opportunity at the perfect time”.
“Coming out of the pandemic, people want a holiday experience that is special but also tried and tested, and there is a huge shift to booking online,” he said.
While financial details of the all-cash deal are commerical in confidence, the companies said pre-COVID TripADeal was growing at more than 40% annually, with pre-pandemic yearly TTV in excess of $200 million. “Monthly bookings are now significantly higher,” a statement confirmed.
More details in today’s issue of Travel Daily.