Webjet has made the biggest move yet in its impressive segue from one-trick-pony OTA to diversified global travel company by agreeing to buy JacTravel for GBP200 million.
JacTravel is a B2B business specialising in multi-channel hotel distribution and tours across Europe.
It has a turnover of c. GDP400 million and is by far Webjet’s biggest acquisition.
Webjet MD John Guscic said the purchase will transform the company’s WebBeds B2B business.
“It represents a step change in WebBeds’ scale with directly contacted hotel relationships increasing from 10,000 to 17,000.”
The acquisition will be funded through a capital raising.
In the year to June 30, 2017, JacTravel had a total turnover of GBP398 million and earnings before in, tax, depreciation and amortisation of GBP19 million.