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Webjet see no threat in Airbnb

March 29, 2017 OTA News No Comments Email Email

John Guscic, Managing Director of Webjet Limited, Australia’s largest online travel agency, has stated that Webjet does not see Airbnb as a threat; in relation to claims by their product chief Joe Zadeh stating Airbnb will “own the entire travel experience”.

Despite the competitive environment which has seen a number of global and local travel entities come and go over the 20 years that Webjet has been in operation, Webjet has seen continuous and accelerated growth with year on year global market share gains across their businesses.

John Guscic says, “Whilst the underlying role of the traditional travel agent is arguably in decline, Webjet’s online business model is bucking that trend. We do not see Airbnb as a threat, quite the contrary.  Any entity that assists in expanding the total travel market is welcome in our world.”

“In Australia, as demonstrated in our 1H17 results, webjet.com.au has enjoyed 33 months of continuous TTV growth and continued to outperform the market by demonstrating bookings growth more than 5 times that of the underlying market rate.   In addition, since the inception of our WebBeds business 4 years ago (our B2B business which provides online distribution of hotel content to a range of travel partners globally) we have seen an even higher growth rate in that business.  As at 23 February, 2H17 bookings were growing at more than 35% year on year.”

“Be it in the millions of hotel room nights that WebBeds distributes, or the millions of airline seats that we sell on hundreds of airlines globally, Webjet has continue to increase its market share as the total market grows,” Mr. Guscic continued.

“In reality, the global travel market will continue to grow for the foreseeable future and we believe our technology and strong brand promises will continue to enable us to deliver growth in excess of the underlying market.

After delivering $30.6 million EBITDA* in the 1H17 results from our ongoing businesses, we increased our full year guidance to $80 million EBITDA, of which $61.1 million is from the underlying businesses.  We continue to track ahead of our 5 year CAGR EBITDA targets for both the B2C and WebBeds businesses,” John added.

*Excludes sale of Zuji.

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