Flight Cen­tre to Ig­nite growth

Travel Bulletin - - STATE OF THE INDUSTRY -

It’s been a busy few weeks for Flight Cen­tre which has an­nounced a num­ber of ini­tia­tives in­clud­ing the ac­qui­si­tion of a 49% stake in Gold Coast-based Ig­nite Travel Group – the par­ent com­pany of my­hol­i­day­cen­tre, Hol­i­day Ex­clu­sives and Re­ward­scorp. The busi­ness, which has about 120 staff, is ex­pected to record $100 mil­lion in TTV in the 2016/17 fi­nan­cial year but de­tails of the pur­chase price and prof­itabil­ity weren’t dis­closed. Flight Cen­tre ceo Gra­ham Turner said the in­vest­ment would “fast-track the busi­ness’ growth” as well as de­liv­er­ing new dis­tri­bu­tion op­por­tu­ni­ties to sup­pli­ers. “In par­tic­u­lar, we see strong and rapid growth op­por­tu­ni­ties for the Ex­clu­sives voucher busi­ness, which op­er­ates in a mar­ket that is ex­cit­ing and grow­ing rapidly,” he said. Ig­nite founder Ran­dall Deer will con­tinue to run the busi­ness, with pro­vi­sions in place for FLT to in­crease its hold­ing sub­ject to “mu­tual part­ner­ship per­for­mance re­quire­ments”. Other Flight Cen­tre an­nounce­ments in the last month have in­cluded a re­vamp of its FCM Travel So­lu­tions of­fer­ing, the launch of an in-house tech­nol­ogy incubator called Lit­tle Ar­gas, the re­brand­ing of My Ad­ven­ture Store as ‘My Ad­ven­ture Travel’ and a multi-year part­ner­ship with en­ter­tain­ment com­pany Live Na­tion.

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