Asian Branding On Table

WOTIF is considering ramping up its Asian branding effort as regional sales continue growing at more than 100% a year.

CEO Graeme Wood said: “We’re definitely looking at increasing our marketing in the region.

“Obviously we don’t have the same word of mouth in Asia that we do in Australia.

“If we want to grow quickly we have got to get awareness happening.”

Wotif is a well-known brand in Australia, where it claims 36% market share.

Awareness dramatically increased following the spectacular float of the company on the Australian Stock Exchange.

Shares that were pre-sold to institutional investors for A$2 in late May are now trading for around A$3.30, valuing the company at A$681 million, according to CommSec.

Mr Wood said Asian business currently comprised less than 10% of its sales but was its fastest-growing region, albeit off a lower base.

He said the challenge is now to increase the Wotif brand profile across the region and the company is evaluating a range of marketing options.

“We want to grow as quickly as we can without putting too much stress on people and resources,” he said.

“It’s a balancing act to grow both the supply and the demand side.”

China is apriority for the company but Mr Wood declined to highlight any other target markets, while conceding credit card acceptance many Asian companies is a difficult hurdle to overcome.

Wotif employs a small sales team in Singapore “which is being led out of Brisbane right now”.

He added that Asian hoteliers had been receptive to the Wotif pitch.

“We don’t get too many knock backs when we approach properties we want to work with.

“For those new to the internet it’s an educational process but they appreciate the business we can bring, particularly the Australian inbound traveler.

Ends.

Share and Enjoy: