Webjet Limited (ASX: WEB) is a travel booking website offering flights, hotels, holiday packages, cruises, car hire, travel insurance and travel deals. The company has operations in Australia, New Zealand, North America, Singapore and Hong Kong. Webjet Ltd's Registered Office is located in Melbourne, Victoria (Australia).
Webjet also has a franchise agreement for brand and booking engine associated technology licenses with BidTravel, South Africa, as well as business-to-business solutions through Lots of Hotels, a subsidiary of Webjet Limited established in Dubai and London in 2012, and Sun Hotels, acquired by Webjet Limited in 2014. In June 2016, Webjet acquired Online Republic for $59 million, a move to strengthen its presence in the online travel space worldwide.
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Awards
In 2010, Webjet was ranked 49 in the "Deloitte Technology Fast 50 Australia 2010", a program that recognises fast growing technology companies in Australia. Webjet was listed with a growth rate of 56.75% in the Internet sector, under CEO Richard Noon. Webjet was also recognised a multiple year winner (consecutive and non-consecutive) in its sixth year.
In 2011, Webjet Australia was ranked in Forbes Asia's "Best Under A Billion", a list which highlights the 200-high performing Asia-Pacific companies with revenue under $1 billion. Webjet was shown to have Sales valued at US $47M, Net Income valued at US $12M and a Market Value valued at US $158M.
In 2014, Webjet was ranked #468 in the "Deloitte Technology Fast 500 Asia Pacific", an annual ranking of the 500 fastest growing technology companies in Asia Pacific. Webjet was listed with a 65% growth rate in the Internet industry sector.
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History
Established in 1998, Webjet was founded by former Jetset Travel Chief Executive David Clarke. The company was publicly listed on the ASX in 2000 through a reverse takeover deal with Roper River Resources NL.
In May 2001, Webjet became 100% automated, allowing customers to complete their bookings online., before launching a WAP website in May 2002 for mobile phones and offering SMS customer support.
Webjet announced their plans to open their New Zealand website, Webjet.co.nz on 21 July 2004.
In 2005, Webjet won the number 1 position for travel agency websites according to Hitwise. In December 2008, Webjet expands its business and launches Webjet.co.uk for customers in the United Kingdom.
In 2007, Webjet made a bid for the website Travel.com.au valued at approximately $42.3 million. The deal failed following a bid from Wotif.com which valued Travel.com.au at approximately $49.8 million.
On 17 September 2009 Webjet announced their plans to commence operations in North America (Webjet.com) through a Joint Venture with Mathias Friess, formerly General Manager Global Sales and Distribution of the Virgin Blue Group of Airlines.
On 30 June 2010 it was announced that Webjet had entered into a Joint Venture with Westminster Travel in Asia to initially cover the establishment of Webjet in Singapore (Webjet.com.sg) and Hong Kong (Webjet.com.hk).
In April 2010, Webjet.com is launched and the brand makes its entrance into the United States online travel agency market. This is followed by the launch of Webjet.ca in Canada in December 2010.
In August 2010, Webjet launches their first iPhone app, available on iOS devices. A travel app for Android devices was later released in February 2015.
In August 2010, it was announced that the board of Webjet would be restructured, with the chairman, Allan Nahum, stepping down from his role but continuing as a non-executive director. Webjet said the restructuring was to help "the best possible balance of executive and non-executive directors". John Guscic assumed the role of Managing Director for Webjet on April 1, 2011, while former Managing Director and founder David Clarke assumed the role of Non Executive Chairman. Upon assuming the role of Managing Director, Guscic claimed that Webjet would have a renewed focus on "securing more hotel business".
In February 2011 Webjet announced the launch of Lots of Hotels, a B2B international hotel aggregation platform operating in the Middle East and Africa, offering the most extensive inventory in the region with over one million hotel rooms on sale worldwide.
Webjet reported record profits in their "Annual Results 30 June 2011" published on 11 August 2011, displaying a 17% growth in total transaction value to $592 million, a net profit before tax growth of 8% to $15.7 million, as well as net profit after tax up 5% to $11 million. The record profits were realised in the same period as an operating loss of $700,000 for Webjet's markets in the United States and Asia. Due to the record profits, a dividend of six cents per share was paid to investors in October 2011, taking the yearly payout overall to eleven cents per share.
On 8 February 2012, the company announced in their "Half Year Results Ended 31 Dec 2011" that TTV for the half-year had grown 29% to $369 million, and that NPAT was up 17% to $5.9 million, marking sixteen consecutive half-years of growth.
In April 2012 Webjet signs as a major sponsor of the Melbourne Football Club, with players sporting the Webjet.com.au logo on their the front of the club guernsey less than 24 hours after the deal was struck.
In April 2012, Webjet also partners with Australian loyalty program flybuys. Later that year in July, Webjet.com.au enters into its first international franchise agreement with BidTravel in South Africa.
In October 2012, Webjet expands its on-site offering by launching holiday packages, combining flights and hotel bookings in one.
In December 2012, Webjet announced it had entered agreements to acquire Zuji in Australia, Hong Kong and Singapore. The deal was described as allowing Webjet to "substantially expand" its presence in Asia, with Webjet required to raise $25 million in order to complete the purchase. The acquisition was completed on 22 March 2013.
On 21 August 2013, Webjet announced a profit of $11.4 million and NBAT of $6.5 million. During the year the company experienced a growth in total transaction values of $110 million from $768 million to $884 million.
In November 2013, Webjet signed a two-year deal as the principal sponsor of Sydney Thunder for the 2012/203 and 2013/2014 seasons.
In February 2014, Webjet and Sydney FC agreed to a new major commercial partnership which renewed their status as the principal partner of the team since the beginning of the 2012/2013 Hyundai A-League season.
In June 2014, Webjet launched an extension of its Australian business with the launch of Webjet Exclusives, providing members with exclusive travel deals that are not available elsewhere. In August 2014, Webjet announced the official launch of its cruises product on its Australian and New Zealand site, further expanding its online travel offering.
On 14 July 2014, Webjet announced it entered into a binding Heads of Agreement to acquire the SunHotels Group in Europe. Sunhotels was acquired by the Webjet Group in 2014. Webjet is the leading Online Travel Agent in Australia and New Zealand and is publicly listed on the Australian Stock Exchange (ASX:WEB) Founded in 2002, Sunhotels has the aim of helping Scandinavian travel agencies find accommodation in European beach destinations, we have grown into one of the largest accommodation and ground service providers in Northern Europe. Sunhotels offer FIT and Group Travel products in beach and city destinations across more than 120 countries around the world, and the team of over 150 travel experts service and support travel agencies and tour operators globally.
On 20 August 2014, Webjet announced record results in their Annual Results 30 June 2014, with $19.1 million NPAT and total revenues of $98.6 million, up 31.9% over the previous corresponding period.
In February 2015, Webjet began accepting BitCoin on holiday package bookings, making it one of the first Australian retailers to accept the electronic currency in their payment process.
In June 12, 2016, Webjet formally disclosed its acquisition of former rival Online Republic through the airing of a video in national TV, showing the Airport Rentals (Australia) brand. This move strengthened Webjet's presence in the car rentals and cruise industry (via Cruise Republic brand). At the same time, this allowed the company to expand to offering motorhome rental deals through the Motorhome Republic brand, a major business unit of Online Republic.
On November 9, 2016, Webjet formally announces the sale of ZUJI Hong Kong and ZUJI Singapore to Hong Kong-based travel technology group to Reckon Holdings Limited and Sharp Focus Pacific Limited, subsidiaries of Uriel Aviation Holding Limited, for $56 Million.
References
External links
- Webjet Limited
- Webjet Australia
- Webjet New Zealand
- Webjet US
Source of article : Wikipedia
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