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New Zealand network expansion

June 14, 2019 Business News No Comments Email Email

Helloworld Travel Limited (ASX: HLO) today announced that a number of mid to large sized corporate agencies have joined, or committed to join, its New Zealand retail network, following on from the break-up of the First Travel Group.Gilpin Travel, Barlow Travel and Atlas Corporate with a combined annual Total Transaction Value
(TTV) of NZ$130m have all now joined the HLO NZ network. The NZ Travel Brokers (annual TTV circa NZ$125m) together with a number of other significant agencies, with a combined annual TTV of a further NZ$46m, have entered into agreements to join from June 2019.

As announced last week, Helloworld Travel Limited has also purchased outright the business of sports and event travel specialist, Williment Travel.

The total combined annualised TTV coming from this expansion, under the HLO NZ networks, is
approximately NZ$300m, representing over 65% of the former First Travel Group’s TTV.

Discussions are continuing with several other former First Travel Group members. With the addition of these new members to HLO’s New Zealand networks, HLO now has a total of 580 agency members in New Zealand including 280 travel brokers.

Andrew Burnes, Helloworld Travel CEO and Managing Director said “The New Zealand acquisitions and network expansion has given our NZ business the size and resulting economies of scale to assist the Group to achieve our targeted EBITDA to Revenue of 25% in FY20. The team in New Zealand has done an outstanding job of building a strong value proposition which in turn has attracted these new agencies to our networks.”

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