The global hotel solutions provider HRS has invested in the Australian company The Lido Group through a strategic partnership, thus continuing its global expansion. Founded in 1987 and headquartered in Sydney, The Lido Group is a market-leading corporate and government accommodation aggregator and provider of integrated payment solutions. Its portfolio boasts some 6,700 hotels in Australia. By taking this step, HRS is extending its global portfolio and is now active in all of the top business travel markets in the world.
The Australian market offers huge potential for HRS
The business travel market is growing worldwide, with the Asia-Pacific region recording particularly strong growth and thus solidifying its top-ranking position. One of these growing markets is Australia, which is ranked the seventh largest market in the world for accommodation in the business travel sector. What’s more, Australian companies frequently book their business travel accommodation online: Australia is one of the global leaders in this regard, with online hotel bookings representing 76% of its total market. “Australia is a very dynamic and progressive market,” said Tobias Ragge, CEO of HRS, when formally signing the contract in Sydney. “Thanks to the investment in The Lido Group and the expansion of our portfolio into Australia, HRS is now well-positioned in all of the world’s top business travel markets. We can also provide even better support to our customers when it comes to their worldwide travel programs.” The Lido Group currently works with government organizations, such as the Queensland Government and government owned organizations such as Ergon Energy, as well as global providers such as American Express and Amadeus.
Customers and hotel partners worldwide will benefit from the investment
HRS offers its customers a broad range of hotels all over the world, drawing from both its own portfolio as well as from partnerships. As well as covering larger Australian cities, The Lido Group also has a presence in rural and remote regions, which up to now were not represented in HRS’s portfolio. This allows the company to strengthen its position as a global provider of hotel solutions and to lay the foundations for supporting customers all over the world in their travels to Australia. “The partnership with HRS does allow The Lido Group to further accelerate its expansion,” said The Lido Group Chief Executive Steve Mackenzie. “Both companies are also on strong growth trajectories propelled by their unique hotel content, cutting-edge technology and close relationships with valued corporate customers and leading TMCs.”
At the same time, hotel partners associated with HRS will gain access to a pool of potential new business travelers. The most important destinations for Australian business travelers outside of Australia are in Asia, especially in Singapore and Hong Kong. That being said, the US, France, and the UK are also popular destinations.