Priorities include targeting business travellers and creating a new loyalty program.
Webjet Group has released this morning a five-year strategic growth plan outlining objectives to double total transaction value (TTV) to $3.2 billion by FY30.
With the assistance of a global strategy firm, the company conducted a three-month deep dive into its Q4 2024 data, from which it identified new business segments which can deliver “significant growth” to the business.
The three-month review revealed a business focused almost solely on domestic flights, which made up 79% of its FY24 TTV, along with hotels (6%) and car, motorhome rentals and insurance (15%).
New strategic priorities include introducing a dedicated loyalty program beyond its existing tie-ups with credit card brands; expanding its hotels and packages product; and creating a standalone business travel offering.
The company will increase its investment in international flight distribution, expanding customer engagement and optimising conversion largely through its Trip Ninja brand.
Describing business travel as an “untapped opportunity for Webjet to disrupt”, the strategic review highlights a goal of better servicing Australian business travellers, retaining them as their businesses scale up and building its product offering to strengthen cross-sell opportunities.
More details in today’s issue of Travel Daily.