Helloworld Travel New Zealand expansion ·

Helloworld Travel New Zealand expansion

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 Z$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.”

About Helloworld Travel Limited
• Helloworld Travel Limited (ASX: HLO) is a leading Australian and New Zealand travel distribution company, comprising retail travel networks, DMC / Inbound operations, air ticket consolidation, wholesale travel services, corporate travel management services and online operations.
• HLO has over 2100 staff located in Australia, New Zealand, Fiji, the USA, Asia, India and UK/Europe and over 2350 members of its travel agency networks in Australia and New Zealand.
• Helloworld Travel is the proud naming rights partner of Volleyball Australia and the Helloworld Travel Volleyroos men’s and women’s national teams.

Source: Read Full Article