Technology

Serko expands agreement with Booking.com, as Booking Holdings gets behind capital raise

Huntley Mitchell

Huntley Mitchell

Corporate online travel booking and expense management player Serko Limited has signed commitments with Booking.com to expand their existing agreement.

With the expanded agreement, Booking.com can now offer and promote Serko Zeno to its business traveller customers and enable the integration of new Booking.com content onto Zeno, Serko’s next-generation travel management application.

In addition, Booking Holdings is investing NZ$17.5 million ($16.4 million) in Serko as part of a NZ$45 million ($42.1 million) capital raising the company launched on Thursday to accelerate Serko’s global rollout of Zeno – in particular, Europe and the US.

Funds raised will also be used to develop expanded content offerings for Serko’s global TMC reseller community, as well as deliver and support expected growth in Serko’s customer base, and support projected expansion arising from the Booking.com agreement.

Serko CEO Darrin Grafton (pictured above, left) said: “Partnering with Booking.com introduces additional content to advance our aspiration of achieving the ‘Unified Traveller Experience’ which will deliver simplicity and compliance to corporate travellers, while making our resellers more profitable.

“The Serko and Booking.com agreement will accelerate our journey toward our vision of seamless corporate travel and expanding outside of Australasia.”

Ripsy Bandourian, vice president of partnerships at Booking.com, said: “We are excited to be expanding our agreement with Serko, as our vision about making business travel frictionless for both travellers and travel managers alike is very much aligned with Serko’s.

“We’re looking forward to working together in bringing this solution to customers and partners outside of Australasia.”

Both announcements coincided with Serko’s half-yearly results, which revealed a net loss before tax of NZ$0.8 million ($0.75 million) for the six months to 30 September 2019 – down from a net profit of NZ$1 million ($0.9 million) during the prior corresponding period.

Total operating revenue rose 29 per cent to NZ$14.7 million ($13.8 million, total income increased 29 per cent to NZ$11.8 million and travel booking transaction volume grew 4.5 per cent to 2.2 million.

Serko’s half-yearly earnings before interest, taxes, depreciation, amortisation and fair value remeasurement of contingent consideration fell 6.6 per cent to NZ$1.4 million ($1.3 million).

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Cruise

Susan Bonner to lead Celebrity’s local operations as part of cruise line’s global leadership reshuffle

After being chosen to lead the search for Celebrity’s new ANZ boss, it appears Susan Bonner found no suitable candidate other than herself.

Share

CommentComments

Aviation

Airline passenger storms cockpit, beats flight attendant and injures six cops

A fellow passenger said the New Yorker ran full pelt at the cockpit before ‘beating’ a very petite flight attendant and pushing police officers down a staircase.

Share

CommentComments

Wholesalers

Wholesaler Wrap: Intrepid $1 deposits are back, Contiki launches plant-based trip, Trafalgar’s airfare deal + MORE!

Start your week right, by getting the jump on all the latest deals, updates and pretty pictures from your favourite wholesalers, best served with a triple shot long black and half a tube of Berocca.

Share

CommentComments

Tourism

Nominations now open for the 2020 NITAs

Are you hoping to fill some empty space in your office trophy cabinet this year? Well, you could enter the NTIAs, or you could just purchase some old silverware from Vinnies.

Share

CommentComments

Tourism

OPINION: Three travel marketing trends to drive bookings in 2020

by Chris Greenwood

Surrounded by picturesque beaches filled with fun-loving locals and a plethora of exotic animals, Australia is a bucket-list destination for […]

Share

CommentComments

Aviation

Qantas’ bitter court stoush with Perth Airport continues

by Christian Fleetwood

The flying kangaroo has been ordered to hand over information on airport fees and the profitability of its Perth route in an ongoing legal battle with Perth Airport.

Share

CommentComments

Wholesalers

AFTA boss says “many and very serious questions” to be asked about Excite Holidays

by Huntley Mitchell

Jayson Westbury says he is committed to uncovering the truth about the collapse of Excite Holidays, which has left many agents and their clients in limbo.

Share

CommentComments

Destinations

Venice: Low tide sees canals become impassable by gondolas

Tourists to the city of Venice have been met with a stark contrast to November’s high tides.

Share

CommentComments

Tourism

Flavour of the Week: Chimu’s new national sales manager, SA Premier takes state’s top tourism job + MORE!

It’s ups and downs in this Flavour of the Week, with appointments and resignations aplenty. For added enjoyment, Travel Weekly highly recommends reading this with an alcoholic beverage in hand.

Share

CommentComments

Cruise

Agents can now book brand-new expedition voyages with Viking

Viking’s brand-new expedition itineraries have launched, and they just happen to coincide with the launch of Travel Weekly’s ‘Pub Crawl’ and ‘Weekend Bender’ itineraries.

Share

CommentComments

Aviation

Airline employee’s sassy tweet goes viral

You can absolutely tell who on Twitter has worked in customer service before based on their response to this viral tweet.

Share

CommentComments

Aviation

WATCH: skateboarder’s plane toilet prank goes terribly wrong

This one has everything you want in a Friday story: a pro skateboarder, a prank gone wrong and even a dash of toilet humour. All that’s missing is an early mark and a cheeky wine.

Share

CommentComments