Helloworld claims NZ coup

HELLOWORLD Travel Limited says its recent additions in New Zealand (TD breaking news) will boost its annual TTV by about NZ$300 million and comprise more than 65% of the sales recorded by the First Travel Group prior to its recent acquisition by Express Travel Group (TD 31 May).

Today HLO announced that the NZ Travel Brokers group would join its retail network, with CEO Andrew Burnes saying the expansion would give the company a total of 580 agency members in NZ, including 280 travel brokers.

“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,” he said.

“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,” he said.

NZ Travel Brokers joins Gilpin Travel and Barlow Travel, which became part of Helloworld early this year (TD 03 Jan) as well as former First Travel Group members Atlas Corporate Travel and events and sports specialist, Williment Travel, which was 100% acquired by HLO (TD 06 Jun).

Express Travel Group owns about 65% of First Travel Group, with the rest held by existing members and management.