Helloworld boosts travel network with new firms
Travel retailer Helloworld Travel has announced a number of new businesses have joined, or will join, its New Zealand retail network, broadening operations in the region.
Agencies Gilpin Travel, Barlow Travel, and Atlas Corporation have joined the network with a combined total transaction value of $130 million.
Additionally, the NZ Travel Brokers – which command a $125 million total transaction value – along with other “significant agencies” have committed to join from June 2019.
“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 per cent in FY20,” Helloworld Travel chief executive Andrew Burnes 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.”
The total annualised TTV added to the business is approximately $300 million, bringing the networks total size to 580 agency members in New Zealand – including 280 travel brokers.
The travel business is continuing discussions with several other former members of First Travel Group.
Helloworld also acquired sports travel retailer the Williment Travel Group recently, further broadening its offering.
“The Williment team and their breadth of product and experience across a wide range of sporting codes and in event management adds a new dimension to our New Zealand business, and will allow us to open up the amazing offerings Williment has to the market via our Helloworld network members,” Burnes said.
Author: Dean Blake. This article first appeared on Inside Retail, a sibling site to Inside Franchise Business.