Webjet raked in nearly $135 million profit and the big winner has been WebBeds, its wholesale division.
👉 Background: Webjet is one of the big players in the online travel industry. Most people would know Webjet for its price comparison and booking service. for its consumer division, but it also has a wholesale division called WebBeds.
👉 What happened: While last year, Webjet reported a $15 million loss, this year, it raked in nearly $135 million profit. That's a $150 million turnaround.
👉 What else: The big winner over the past year has been WebBeds, which acts as a conduit between hotels and customers... like tour operators. In fact, WebBeds was 22% ahead of its pre-pandemic levels.
💡 Market downturns can be a springboard for future growth.
💡 During the downtime of the pandemic, Webjet was streamlining its technology platform and taking a step back to find new ways to service markets that hadn't been considered in the past.
💡 And Webjet’s CEO is so confident about the business' prospects that he’s taken a line from Sia’s song Impossible: "Like a Porsche with no brake, Webjet is unstoppable". But we're pretty sure Sia didn't drop Webjet's name in her OG song.
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