Webjet targets TTV growth

WEBJET’S key strategy over the next three years is to grow total booking numbers in both its business-to-consumer and business-to-business segments.

Speaking at the company’s annual general meeting today, ceo John Gucsic outlined targets including growing B2C bookings at more than three times the underlying market, while for B2B the target is to outperform the market by five times.

He said both Webjet.com and the WebBeds B2B businesses are currently exceeding these rates.

Gucsic outlined the impact of the Jactravel acquisition ( TD 03 Aug) on the overall business, with the company’s total transaction value set to soar 50% in FY2018 to $3 billion ( TD breaking news).

Profit will also surge to $80m, Gucsic forecast - however the company’s cash flow during the current half will be negative due to the Jactravel deal and “standard 1H seasonality”.

Gucsic announced a restructure of the WebBeds hotel wholesale division into geographic regions rather than by its current brands which include Lots of Hotels, Fit Ruums, JacTravel and Sunhotels.

He also confirmed Webjet would be hit by a $1.7 million impact due to the so-called ‘Netflix tax’ of GST on inbound intangible supplies to Australian consumers through Webjet’s NZ-based Online Republic cruise business.