Travel Agents

CTM to buy two agencies

Daisy Melwani

Corporate Travel Management have entered binding agreements to purchase Tasmanian-based Andrew Jones Travel and UK-firm Redfern Travel.

CTM will pay $69 million, in initial consideration, for Redfern Travel, with a maximum consideration capped at $86.2 million and $5.6 million for Andrew Jones Travel.

The acquisitions will be funded by a $71 million capital raising.

The combined purchases are expected to contribute $7 million EBITDA from February to June 2017, and $17 million EBITDA on an annual basis, News.com.au reports.

The deal has upped CTM’s FY17 underlying EBITDA guide to $92 million to $97 million, up 33% or 41% on FY16 EBITDA.

Both Andrew Jones Travel and Redfern Travel are significant providers of travel services to government and corporate sectors in their regions.

 

SEE WHAT PEOPLE ARE SAYING

Travel Agents

Big Fat Agent Wrap

by Vanessa Bussoletti

It doesn’t get more jam-packed than this, readers. Unless you count our jam sandwich because that’s overflowing all over our desk.

Share

CommentComments

Tourism

“We’re all getting robbed”: Vic tourism hit by scam

by Hannah Edensor

At least nine Victorian tourist attractions have been hit by a credit card scam. We too were busted for buying clothes under our boss’s name but only to avoid buyers shame in the office.

Share

CommentComments

Hotels

What can you actually take from hotel rooms?

We could tell you this was an exclusive insight into what you can get away with stealing from hotels, but we’d be lying. We nicked it off an online forum.

Share

CommentComments

Aviation

At last, Qantas inflight Wi-Fi takes off

by Hannah Edensor

As 56% of travellers get stoked about Qantas’ inflight Wi-Fi, our concern lies with the other 44% who clearly hate looking at cats on YouTube.

Share

CommentComments

Destinations

Travel warnings for Gallipoli after terror threats

by Hannah Edensor

New updates on Smart Traveller have upgraded warnings for Turkey with news Anzac Day commemorations could be a target of terror attacks.

Share

CommentComments

Travel Agents

Flavour of the Week

Find out who won new roles & who fell on their swords in this week’s Flavour of the Week. Yes, we added that sword bit for effect.

Share

CommentComments

Cruise

Cruising for young travellers is finally here

This first of its kind cruise brand had us at ‘Wine & Paint Classes’ because it combines two of our favourite things. Well, one, we hate painting.

Share

CommentComments

Technology

52% of travellers swayed by Facebook photos: study

All of our Facebook friends’ photos inspired us to travel. And by ‘friends’ we mean the public profiles we stalk because we only have 4 friends.

Share

CommentComments

Tourism

Is your boss the Executive of the Year?

We tried to nominate ourselves for this award, but apparently ignoring the boss and pretending to be your own boss doesn’t actually make you CEO.

Share

CommentComments

Travel Agents

Final week of LAX agent incentive kicks off

We’re re-running this again from Monday (minus the typos). You get déjà vu & we do less work. A win-win, we say.

Share

CommentComments

Destinations

A world of special Sunshine Coast Deals

by Vanessa Bussoletti

Visit Sunshine Coast has partnered with Escape Travel to launch a major new campaign offering a wide range of activities […]

Share

CommentComments

Hotels

Big Fat Hotel Wrap

by Vanessa Bussoletti

If you read one thing today make sure it’s Travel Weekly’s hotel wrap. Actually, your medication instructions and train timetable probably take priority.

Share

CommentComments