We­b­jet sells Zuji

Travel Bulletin - - STATE OF THE INDUSTRY -

WE­B­JET has made a $26 mil­lion profit on the sale of its Asia-fo­cused book­ings busi­ness Zuji to sub­sidiaries of Hong Kong-travel tech­nol­ogy group, Uriel Avi­a­tion Hold­ing Lim­ited last month. Shares in We­b­jet jumped af­ter the $56 mil­lion sale, which was al­most dou­ble the $30 mil­lion paid for Zuji by We­b­jet back in March 2013. At the same time as an­nounc­ing the sale We­b­jet CEO John Guc­sic said the com­pany re­mained com­mit­ted to ex­pand­ing its pres­ence in Asia through B2B ho­tels, an­nounc­ing the launch of new start-up FIT Ru­ums which ex­tends the firm’s Webbeds ho­tel whole­sal­ing division across key Asian mar­kets – in par­tic­u­lar China through a ma­jor strate­gic al­liance with Dida Travel Tech­nol­ogy. Guc­sic high­lighted the mas­sive po­ten­tial of the B2B ho­tel sec­tor which has also seen off­shoot Sun­ho­tels en­ter into a ma­jor strate­gic part­ner­ship with Uk-based Thomas Cook Group. We­b­jet has a vi­sion to cap­i­talise on the growth in FIT travel, via a com­bi­na­tion of di­rect con­tracts and part­ner­ships with lo­cal DMCS with tech­nol­ogy to fa­cil­i­tate con­nec­tions to XML clients, re­tail agen­cies and other whole­salers. Webbeds over­all is fore­cast­ing in ex­cess of $450 mil­lion in TTV this fi­nan­cial year, with a profit con­tri­bu­tion of more than $11 mil­lion.

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