Qantas has bought the remaining 49 per cent of Byron Bay born online travel business TripADeal, accelerating its expansion into the $13 billion holiday packages market.
The purchase will help deepen synergies by combining Qantas and Jetstar’s extensive network with the growing curated tour market, the airline said.
It also will enable a more tailored and integrated holiday experience for Qantas Frequent Flyers.
In 2022. Qantas acquired a majority stake in TripADeal enabling its Frequent Flyers to earn and use their Qantas Points on ready-made holiday packages.
Qantas Group has now purchased the remaining 49 per cent for $211 million, with the transaction expected to be completed by the end of June 2024.
https://www.travelweekly.com.au/article/qantas-relaunches-perth-london-route-ramps-up-trans-tasman-flights-secures-majority-stake-in-tripadeal/
Through the full acquisition, Qantas expects combined cost and revenue synergies to build to at least $50 million annually across the Group, over time.
TripADeal will continue to operate as an independent business, working with a range of travel partners and airlines, including Qantas and Jetstar. It also recently added cruises to its platform, expanding the itinerary options for travellers.
The purchase will see the founders of TripADeal, Norm Black and Richard Johnston, depart the business. Matt Wolfenden, who has been with the company for seven years, has been promoted to CEO and will lead the 150- strong team in Byron Bay and tour guides based in 30 countries.
“TripADeal has been building on-trend and well-priced holiday packages for over a decade and has delighted millions of holidaymakers in the process,” TripADeal co-founders Norm Black and Richard Johnston said in a statement.
This success has only been turbocharged by the Qantas partnership, and the opportunity for our members to earn and use their points.
“With TripADeal bookings growing at 70 per cent over the last year, and more opportunities to strengthen the offering and realise further synergies, this deal is great news for our customers and the Loyalty business more broadly,” Qantas Loyalty CEO Andrew Glance said.
“Norm and Richard should be congratulated for building an incredibly successful, Australian-born business, and we couldn’t be more pleased to be custodians of TripADeal moving forward.
“As founders of a home-grown business that has made it easier for millions of Australians to take amazing holidays at the click of a button, this is a proud moment for us.
“We have worked hard to build and grow TripADeal from the ground up and know Qantas will take it into a new era of success.”
