TravelEdge has joined the likes of Magellan Travel, the First Travel Group, and Show Group Enterprises as the latest travel brand to join the Helloworld Travel Group powerhouse.
TravelEdge, for those who don’t know, is Australia’s largest privately-owned corporate travel management company and it is in the process of being purchased by Helloworld Travel.
Read on for more details of the acquisition:
WHAT EXACTLY DOES TRAVELEDGE DO?
TravelEdge offers a full suite of services of corporate travel services including travel management solutions, academic travel services, event and group planning and delivery, holiday and leisure services and travel prizing and incentives.
WHAT WILL THE ACQUISITION INCLUDE?
Through the purchase, Helloworld Travel will obtain TravelEdge’s full range of end to end solutions for the corporate travel market; as well as its Communico Services, which tailors in-house travel management solutions for corporate clients.
TravelEdge Events will also be obtained, this offers event management, groups travel, conference and meetings services, as well as Business Travel by STA, a brand that includes travel management services for leading Australian learning institutions.
Finally, Helloworld Travel will also have access to TravelEdge’s exclusive offers and packages for leisure travellers; and its Granted Worldwide offers such as travel prizes and employee incentive programs for corporate clients.
HOW MUCH IS HELLOWORLD TRAVEL SPENDING ON THE BRAND?
The consideration for the acquisition is $28 million. Helloworld Travel said this will be funded from a new bank facility.
Helloworld Travel’s acquisition will be earnings accretive in FY20 and beyond.
WHAT DOES ANDREW BURNES SAY ABOUT IT ALL?
Helloworld Travel’s Chief Executive and Managing Director is “pleased” with the acquisition, which he believes will expand the group’s corporate and education sectors. He also expects the purchase to complement the company’s existing corporate operations in Australia and New Zealand.
“With nearly 20 years’ experience, TravelEdge is a highly respected TMC business that generated over $300m of TTV in FY19,” Andrew Burnes said. We will continue to provide outstanding services to TravelEdge’s many clients across the corporate and education sectors in Australia.”
Click here for more information on TravelEdge.
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