Webjet Limited is delighted to announce that it has entered into an agreement to acquire JacTravel, joining Sunhotels, Lots of Hotels and FIT Ruums in its B2B division, WebBeds. The GBP200 million acquisition will propel WebBeds to become one of the world’s largest B2B travel providers. Webjet is acquiring JacTravel from Vitruvian Partners and its management team who will retain a shareholding in the enlarged Group.
London-based JacTravel is among the largest independent B2B platforms in Europe. The company operates two distinct brands, JacTravel and totalstay.com, both of which will now become part of the WebBeds business.
JacTravel's strengths, in terms of geographic focus, product range and wholesale/retail mix, are highly complementary to the WebBeds business. Whilst WebBeds' main focus is on the long-term benefits of the acquisition, the acquisition of JacTravel will also deliver immediate benefits. JacTravel currently has a portfolio of 10,000 directly contracted hotels, 7,000 of which are unique to WebBeds. Additionally, the 3,000 overlapping hotel contracts will further deepen the company's allocation and availability.
JacTravel has a particular strength in major European cities, whilst also having coverage in Asia, the Americas and Middle East.
Webjet’s Managing Director, John Guscic said: “I am truly delighted to announce the acquisition of JacTravel. This acquisition is transformational to WebBeds, creating the #2 B2B player globally and the #2 B2B player in the important European market.
WebBeds has always focused on helping our clients succeed and enabling our partners to respond to fast-changing market trends. By consolidating with like-minded partners like JacTravel, we believe we will drive even greater synergies that will benefit the wider travel industry.”
“JacTravel is a company we have worked with for many years, and we have the greatest amount of respect for their business. We look forward to working with the JacTravel team in the weeks and months ahead as we integrate our businesses and develop the best possible outcomes for all of our partners and clients.” Guscic added.
Adding JacTravel to the WebBeds’ family will boost its annual total transacted volume to over 1 billion AUD, and will increase the global footprint with offices in 19 countries. With a headcount of over 900 employees, WebBeds will be able to provide truly local support to its worldwide network of partners. It will feature a global portfolio of more than 225,000 hotels, of which 17,000 are directly contracted, in all regions of the globe.
WebBeds is bullish about the future growth of the travel industry. The growth rate of international tourism arrivals is consistently outpacing the expansion of the global economy, while the global commercial air fleet is projected to double in size over the next decade to accommodate rising passenger demand.
Consolidation is a key trend in the industry and WebBeds is confident that by expanding its operations, it will be able to drive further growth for the benefit of the wider industry.
