Qantas has acquired a majority shareholding in the Australian-made travel business, TripADeal. The stake allows Qantas Loyalty to immediately expand its exposure to the estimated $13 billion online packaged holiday booking market.
Qantas joins existing shareholders, the founders of TripADeal and private equity firm BGH Capital, which bought a stake in 2020.
The full terms of the all-cash purchase are commercial in confidence. The agreement provides a mechanism for Qantas to acquire the remaining 49 per cent of TripADeal in four years at an agreed multiple of TripADeal’s bookings at the time.
“This is a great opportunity at the perfect time. Coming out of the pandemic, people want a holiday experience that is special but also tried and tested, and there is a huge shift to booking online,” said Qantas Group CEO Alan Joyce. “That’s exactly what TripADeal does. It’s an Aussie success story built on delivering ready-made holidays at very sharp prices, and their level of repeat customers shows how well they do it.”
“Partnering with TripADeal means we can make Qantas Points part of the equation, which is great news for our Frequent Flyers and for our loyalty business more broadly. Buying a majority stake at the same time means we can benefit from the strong growth that’s going to follow as a result,” he added.
TripADeal Founder Norm Black said: “We’re an Aussie business that is very proud to now be in a close partnership with the national carrier. Qantas understands why TripADeal is different and what makes it a success, which is why we chose to do this deal with them.”
Co-Founder Richard Johnston said: “This business is about making it easier for people to take amazing holidays essentially at the click of a button. It’s taken a decade for us to build the relationships direct with suppliers to be able to offer all the experiences we have, and the ability to now use Qantas Points for that is really going to drive our growth in the years ahead. And frankly, it’s great news for anyone wanting to take a special trip.”