Qantas buys majority stake in online booking site TripADeal
Qantas has bought a 51 per cent stake in online holiday booking platform TripADeal in a move that lets customers book packages using their frequent flyer points.
Under the partnership, Frequent Flyer members will be able to use their Qantas points to book any holiday package available on TripADeal, encompassing tours, accommodation, and flights from different airlines.
Qantas CEO Alan Joyce has announced a 51% majority stake in TripADeal.Credit:Michael Quelch
Frequent flyers will earn three points for every $1 spent with TripADeal or can pay part of their holiday with points and the other part in cash.
Qantas chief executive Alan Joyce said the deal, for an undisclosed sum, will give its loyalty members access to domestic and international holiday packages.
“What we’ve seen is a shift to people booking online,” Joyce said on Tuesday morning from Qantas’ Mascot-based headquarters.
TripADeal co-founders Richard Johnston (left) and Norm Black at Byron Bay. Credit:Mark Lane
“This is a very big deal for Qantas, the biggest acquisition we’ve ever done, and it’s an important one because it’s going to make a big difference to the business in the future.”
The deal also provides options for Qantas to purchase the remaining 49 per cent stake in four years’ time.
Through the partnership, Qantas aims to treble TripADeal’s revenue within the next few years, Joyce added.
Joyce added that the TripADeal acquisition is expected to deliver growth on top of the previously-announced $500-600 million in expected underlying earnings before interest and tax (EBIT) by the 2024 financial year.
TripADeal was founded in Byron Bay in 2011 by Norm Black and Richard Johnston and currently employs about 100 people. They sold a 55 per cent stake to BGH Capital in 2020.
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