Online agent Wotif has announced a record-breaking full year result, lifting 14 percent to an all time high of $58 million.
The company outperformed previously predicted figures at all levels, seeing total transaction values and revenues up five percent, operating profits up 11 percent and after tax profits up $7 million (14 percent).
Wotif’s managing director and CEO Robbie Cooke said the results display Wotif’s return to form in an operating environment still every bit as challenging as previous years.
According to Hitwise, Wotif.com is the number 1 online travel agency in Australia, selling around one in every ten hotel rooms in the country. In total, 7.04 million room nights were sold in this financial year.
“This was a very credible performance given the continuing appetite of leisure travellers for offshore travel, fuelled by the strength of the dollar.
It also highlights that there is still substantial distribution in Australia that we have not yet captured,” Mr Cooke said.
The introduction into the flights market produced strong growth of 30 percent, representing nine percent of all travel transactions. Mr Cooke said the flights market was a standout result for a measure which is still in its infancy.
Success in cross selling flights to the Australian market is promising for the recently launched holiday homes range that exclusively offers instant bookings of holiday homes.
Wotif’s mobile site and app for iPhone attracted 14 percent of traffic to the company, converting bookings to account for nine percent of the total room night sales.
Mr Cooke forecasts the company’s international flights business will continue to grow and be a beneficiary of the cycle, while accommodation bookings will remain robust.
Source = e-Travel Blackboard: K.W