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

Destinations

10 bucket list-worthy places for every traveller type

by Sophie Harrison

We had Surfers Paradise Wax Museum atop our bucket list, but have since replaced it with the Trash Museum in Connecticut.

Share

CommentComments

Aviation

The Big Fat Airline Wrap

It’s the very best of airline news rounded up in one place. And if you want to know why there’s a picture of canoes instead of planes you’ll have to click on the article.

Share

CommentComments

Travel Agents

Virgin Holidays leads by example in sealife tourism

by Hannah Edensor

Virgin Holidays continues to protest animals in captivity, and we’re totally on board if you don’t count the rat we trapped in our kitchen last night.

Share

CommentComments

Travel Agents

Travel’s pay gap between men and women bigger than ever

by Hannah Edensor

Do you have a sneaking suspicion your male counterpart earns more than you? Like a lot more? Confirm your hunch with this shocking news.

Share

CommentComments

Tourism

Agents Continue to send clients to Hawai’i

by Amy Bryant

Aussies’ love affair with Hawai’i continues to grow. That’s not to suggest there’s any extramarital shenanigans going on, however.

Share

CommentComments

Aviation

Golfing tourists in tragic crash near Essendon Airport

by Hannah Edensor

Tragedy strikes Essendon Airport this morning after a charter flight carrying golfers to King Island crashed into shops shortly after take-off.

Share

CommentComments

Destinations

Win a luxe Vanuatu holiday for two

Did you miss yesterday’s story on how to win a luxury trip to Vanuatu? We hit CTRL-A, CTRL-C and voila – here it is again!

Share

CommentComments

Cruise

Get a look at Azamara’s new ship arriving in Melbourne

Azamara sounds like a spell out of Harry Potter, but instead it’s the proud parents of Azamara Journey, the ship making her first trip down under.

Share

CommentComments

Travel Agents

Travel agent completes $15,000 bookings while in labour

by Hannah Edensor

We’ve never given birth ourselves but if the movies are anything to go by, we should be shouting ‘Give me my epidural’, not ‘How much for a room?’

Share

CommentComments

Wholesalers

Ormina Tours Redefines the Small Group Travel Experience

by Amy Bryant

Thesmall group itineraries are intimate and uniquely designed. But if its not for you, private journeys are tailor-made exactly to your interests, providing a personalised luxury European experience.

Share

CommentComments

Cruise

What will happen when millenials start river cruising?

by Tara Harrison

Uniworld’s new millennial product promises it won’t be a booze cruise, leaving us no choice but to withdraw our booking.

Share

CommentComments

Wholesalers

It’s The Big Fat Wholesaler Wrap

by Amy Bryant

This very detailed and insightful wrap up of wholesaler news is A+. Well, that’s the feedback anyway, we haven’t read it yet.

Share

CommentComments