Commenting on the result, Webjet’s Managing Director John Guscic, said: “All businesses in both our digital retail (B2C) and digital wholesale (B2B) divisions experienced strong organic bookings growth and market share growth during the year.
The B2C division continues to benefit from the ongoing acceleration of bookings shifting online. Webjet has now reported 27 months of consecutive record TTV, with bookings growth outperforming the market by more than 5 times and international bookings continuing to demonstrate superior growth. ZUJI grew substantially, with TTV up more than 40% in Asia. The integration of Online Republic is underway and progressing well.
Our planned growth strategy for the B2B division is delivering tangible results, with strong TTV and revenue growth coming through in both Lots of Hotels and Sunhotels. LOH North America was launched in December 2015 and is already delivering TTV.
In order to accelerate growth in our B2B division, we invested $ 5 million during the year to build out direct contracting, increased salesforce across all businesses and undertake preparatory work in relation to the distribution agreement with Thomas Cook being announced today. We are very excited about this agreement as it provides a unique opportunity to significantly expand our B2B footprint in Europe over the next 5 years and beyond.”