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Qantas to Acquire Remaining Stake in Online Travel Business TripADeal

Qantas will acquire the remaining 49 percent stake in Byron Bay based online travel business TripADeal. With the acquisition, the Group will be able to deepen synergies by combining Qantas and Jetstar’s network with the growing curated tour market.


Qantas Frequent Flyer’s CEO Andrew Glance (center) With TripADeal Co-Founders, Norm Black (left) and Richard Johnston (right) – Courtesy Qantas

On Thursday (June 13, 2024), Qantas announced that they will acquire the remaining 49 percent stake in TripADeal, accelerating Qantas Loyalty’s exposure to the burgeoning $13 billion online holiday packages market.  Qantas originally acquired a majority stake in TripADeal in 2022, enabling Frequent Flyers to earn and use Qantas Points on African safaris, Fiji beach holidays, European getaways, adventures to India and other tailor-made holiday packages.  The remaining 49 percent stake in TripADeal will be purchased for $211 million, with the transaction expected to be completed by the end of this month.


In Thursday’s announcement, Qantas Loyalty’s CEO, Andrew Glance, said,


“TripADeal has been building on-trend and well-priced holiday packages for over a decade and has delighted millions of holidaymakers in the process.  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.

 

“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.”


Also commenting on the completion of the acquisition, TripADeal Co-Founders, Norm Black and Richard Johnston, said in a joint statement,

 

“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.”

 

TripADeal Founders Norm Black and Richard Johnston will depart the company, while seven-year TripADeal veteran Matt Wolfenden takes the helm as CEO.  In his new role, Mr. Wolfenden will lead the company’s 150-strong Byron Bay team, as well as tour guides based in 30 countries.


Over time, Qantas expects the combined cost and revenue synergies of the acquisition to build to at least $50 million annually across the Group.  Since the Frequent Flyer integration, billions of Qantas Points have been earned and used, including a record 3.9 million points used by one member to book a 35-day around-the-world tour.  Qantas Frequent Flyer members will also receive a 30 percent discount on bookings made with points during July 2024.

 

 

Source: Qantas 

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