Helloworld Travel has agreed to buy privately-owned corporate travel management company TravelEdge Group for $28 million.
TravelEdge’s services include event and group planning and delivery, and incentives.
“With nearly 20 years’ experience, TravelEdge is a highly respected TMC business that generated over $300 million of TTV [total transaction value] in FY19,” said Helloworld CEO Andrew Burnes.
“We will continue to provide outstanding services to TravelEdge’s many clients across the corporate and education sectors in Australia.
“HLO’s existing travel management company (TMC) businesses include QBT, Show Travel, Inspire, AOT Hotels and in New Zealand APX and with the addition of TravelEdge to our wholly owned TMC operations, our trans-Tasman corporate TTV on an annualized basis will be approximately $1.55 billion in FY20.”
Helloworld group general manager corporate Nick Sutherland said the acquisition added “great strength” to its expanding TMC businesses in both Australia and New Zealand.
“QBT was recently awarded the corporate travel contracts for News Corp Australia and Foxtel and is expanding in other areas and we look forward to continuing to provide outstanding service to our many corporate clients throughout Australia and New Zealand,” he said.
TravelEdge CEO Kim Wethmar, who joined the company four years ago, will continue to run the business from its Sydney headquarters.