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Webjet’s acquisition ‘will boost TTV to over $1 billion’

August 3, 2017 Headline News No Comments Email Email

Webjet has entered into an agreement to acquire JacTravel, joining Sunhotels, Lots of Hotels and FIT Ruums in its WebBeds B2B division, a statement issued last night by FIT Ruums stated.

The GBP 200 million acquisition will propel WebBeds to become one of the world’s largest B2B travel providers.

Webjet is acquiring JacTravel from Vitruvian Partners and its management team who will retain a shareholding in the enlarged Group.

London-based JacTravel is among the largest independent B2B platforms in Europe. The company operates two distinct brands, JacTravel and totalstay.com, both of which will now become part of the WebBeds business.

The statement continued:http://travelindustryexpo.com.au/?utm_source=Global%20Travel%20Media&utm_medium=Banners

JacTravel’s strengths, in terms of geographic focus, product range and wholesale/retail mix, are highly complementary to the WebBeds business. Whilst WebBeds’ main focus is on the long-term benefits of the acquisition, the acquisition of JacTravel will also deliver immediate benefits. JacTravel currently has a portfolio of 10,000 directly contracted hotels, 7000 of which are unique to WebBeds. Additionally, the 3000 overlapping hotel contracts will further deepen the company’s allocation and availability. 

JacTravel has a particular strength in major European cities, whilst also having coverage in Asia, the Americas and Middle East.

 Webjet managing director, John Guscic, said the acquisition of JacTravel would be “transformational to WebBeds, creating the number two B2B player globally and the number two B2B player in the important European market”.

“WebBeds has always focused on helping our clients succeed and enabling our partners to respond to fast-changing market trends.  By consolidating with like-minded partners like JacTravel, we believe we will drive even greater synergies that will benefit the wider travel industry.”

“JacTravel is a company we have worked with for many years, and we have the greatest amount of respect for their business. We look forward to working with the JacTravel team in the weeks and months ahead as we integrate our businesses and develop the best possible outcomes for all of our partners and clients.”

Adding JacTravel to the WebBeds’ family will boost its annual total transacted volume to over AUD 1 billion, and will increase the global footprint with offices in 19 countries, the statement said.

With a headcount of over 900 employees, WebBeds will be able to provide truly local support to its worldwide network of partners. It will feature a global portfolio of more than 225,000 hotels, of which 17,000 are directly contracted, in all regions of the globe.

Edited by William Sykes

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