BUSINESS TRAVEL
globenewswire | May 18, 2023
Mondee Holdings Inc. a technology-driven, next-generation marketplace in a $1 trillion segment of the travel market, today announced the acquisition of Consolid Mexico Holding, S.A.P.I. de C.V. (“Consolid”), a high-growth, leading travel provider based in Mexico with a global presence and an emphasis in Latin America (“LATAM”).
Mondee is already a market leader in North America and is quickly growing its leadership in LATAM. Headquartered in Mexico City, Consolid enjoys a global presence and clientele, with a focus on Mexico, the second largest market in Central and South America, as well as other countries in the region. Mondee’s acquisition of Consolid supports continued expansion in LATAM as it comes on the heels of the acquisitions of Brazil-based Orinter in January 2023 and Interep in May 2023.
Consolid’s 2022 net revenue, which has a large air component, was approximately $8 million, with a 6.8% take rate, and its 2022 adjusted EBITDA was over $1 million. The acquisition was concluded with approximately $4 million in cash, plus an additional future earn-out of cash and shares in Mondee stock with a combined value of up to $5 million to increases in adjusted EBITDA.
With an 18-year operating history, Consolid enjoys a leading business to business to consumer (“B2B2C”) position within the air and ground-arrangement travel markets in Mexico. Consolid serves an estimated 1,000 customers globally, with concentrations in Mexico and LATAM, through its “Consolid” and “Travel Fan” brands.
Following the successful acquisitions of Orinter and Interep, the present acquisition serves to expand the distribution of Consolid's travel content by means of Mondee's vast network of over 55,000 travel affiliates and 125 million closed group members. Furthermore, the acquisition provides Mondee with access to additional regional and local content. The Company intends to leverage its proprietary technology platform and introduce revenue enhancements such as FinTech and ancillary solutions for Consolid customers while optimizing expenses to realize substantial top-line and bottom-line synergies.
Mondee's Chairman, CEO, and Founder, Prasad Gundumogula, stated, "We are thrilled to welcome Consolid's CEO Judith Guerra Aguijosa and experienced management team into the Mondee family and look forward to helping provide their customers with additional products and services. We have every confidence they will continue to grow the business actively within their markets. The recent acquisitions of Orinter, Interep and now Consolid, further reinforce Mondee’s growing market presence in Brazil, Mexico, and throughout the Americas. Our strategy is to continue expanding our footprint in LATAM and other attractive global regions through the acquisition of businesses that complement and synergize with our existing solutions, thereby enhancing our expert-backed experiential content."
Consolid's CEO, Judith Guerra Aguijosa, said, "The entire Consolid team is excited to join the Mondee family and work towards unlocking the global growth potential of our combined offerings and capabilities, with early emphasis in Mexico and more broadly across LATAM. We look forward to leveraging Mondee's cutting-edge technology and industry-leading expertise to enhance our customers' travel experiences. With our shared commitment to innovation and customer satisfaction, we are confident that together we can redefine the travel industry in LATAM and beyond."
About Mondee Holdings, Inc.
Founded in 2011 and headquartered in Austin (Texas), Mondee Holdings, Inc. is a group of notable travel service, technology, and content companies bringing disruptive innovation to the leisure, corporate, and retail travel markets. It provides a groundbreaking technology platform of mobile, SaaS, and cloud products and services to a global customer base, handling over 50 million daily searches and billions of dollars in transactional volume each year. Its network includes more than 50,000 gig economy workers and leisure travel advisors, 500+ airlines, and over one million vacation rentals and hotels.
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BUSINESS TRAVEL
prnewswire | April 11, 2023
Spirit Airlines is offering frequent travelers a fast-track to the best benefits of the Free Spirit program, including free carry-on and checked bags, seat selection, onboard snacks and drinks and other valuable perks. The airline today announced a new partnership with StatusMatch.com, which allows elite members of more than 30 loyalty programs to apply to receive Free Spirit Gold® or Free Spirit Silver® Status for one year.
Free Spirit Status rewards the airline's most loyal Guests with valuable, enhanced benefits and flexibility.
Guests who hold frequent traveler status with 16 airline and 16 hotel loyalty programs throughout the Americas are eligible to match their status to Spirit. To view the full list of qualified programs and apply for this limited-time offer, visit Spirit.StatusMatch.com.
"Spirit offers convenient, nonstop routes for Guests who are regularly crisscrossing the country, and we're excited to offer road warriors the opportunity to continue enjoying the benefits they're accustomed to while flying Spirit," said Rana Ghosh, Vice President of Omnichannel Sales at Spirit Airlines. "We're incredibly proud of our Free Spirit program, which offers Gold and Silver members a long list of perks on every flight."
Guests who invest $49 to match to Free Spirit Silver Status receive valuable benefits including Shortcut Security & Boarding, free seat selection at check-in and fee waivers for award redemptions and overweight bags.
Perks of Free Spirit Gold Status, for a promotional rate of $99, include the benefits of Silver Status plus a free carry-on and checked bag, Flight Flex, free seat selection at booking and a complimentary drink and snack on board.
"With many airlines and hotels downgrading elite members, this is a great opportunity for members of the eligible airline and hotel programs to switch to Spirit Airlines," said Mark Ross-Smith, CEO of StatusMatch.com. "This is an amazing value for frequent travelers. We encourage eligible travelers to compare the affordable investment of the status match with the great benefits associated with Free Spirit Status."
The Free Spirit program makes it easy for elite members to requalify for Status and continue enjoying their valuable benefits. Participating Guests earn Status Qualifying Points (SQPs) on fares and À La Smarte® options and can earn additional SQPs by using an eligible Free Spirit credit card.
Invest in the Guest
The expanded program is Spirit's latest commitment to Invest in the Guest, which entails a number of initiatives aimed at delivering the best value in the sky:
Upgraded, wider seats with added cushion and headrests will debut on 26 new planes projected for delivery in 2023.
The Big Front Seat® offers more space, extra legroom and no middle seat. It's the best deal in the sky.
Spirit's Fit Fleet is one of the most fuel-efficient fleets in the industry.
Fast onboard Wi-Fi that allows Guests to watch content from streaming services.
About Spirit Airlines
Spirit Airlines is committed to delivering the best value in the sky. We are the leader in providing customizable travel options starting with an unbundled fare. This allows our Guests to pay only for the options they choose like bags, seat assignments, refreshments and Wi-Fi something we call À La Smarte®. Our Fit Fleet® is one of the youngest and most fuel-efficient in the United States. We serve destinations throughout the U.S., Latin America and the Caribbean, making it possible for our Guests to venture further and discover more than ever before. We are committed to inspiring positive change in the communities where we live and work through the Spirit Charitable Foundation. Come save with us at spirit.com.
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TRAVEL TECHNOLOGY
prnewswire | May 09, 2023
Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), recently signed a new partnership with Egyptian Tourism Authority as part of its efforts to boost tourism in the region.
This partnership is aimed at promoting Egypt's rich history, culture, and tourism opportunities. Through this campaign under the theme "In Egypt, your expectations are history", Wego will work closely with Egyptian Tourism Authority to promote this campaign on all its marketing channels and bring travelers the best of Egypt's summer and Eid Al Adha celebrations, including festivals, events, and attractions.
Mamoun Hmedan, CCO and MD, MENA and India, Wego, said: "We are thrilled to announce our new partnership with Egyptian Tourism Authority. Egypt is a perfect destination for travelers looking for a mix of history, culture, and adventure. Summer and Eid Al Adha are the ideal times to visit Egypt. We have recorded over 24 million searches from MENA to Egypt between 1 January to 27 April 2023 and we expect to see a surge around the Eid Al Adha period."
Wego will be presenting its users with a comprehensive guide highlighting the best places to visit, things to do, and experiences to enjoy. To reward travelers, a social media competition will run online to give people the chance to visit this must-see destination.
Egypt has a variety of activities and experiences to offer visitors during summer and Eid Al Adha. Travelers can explore ancient monuments as Egypt is home to some of the world's most iconic ancient monuments, including the Great Pyramids of Giza, the Sphinx, and the temples of Luxor and Aswan.
Amr ElKady, CEO of Egyptian Tourism Authority, commented: "We are excited to partner with Wego for another year. With Egypt's rich cultural heritage, diverse landscape, and welcoming people, and Wego's large user base in MENA, we are confident that we can attract more visitors to Egypt and provide them with an unforgettable experience."
Suzan Mostafa, General director of Tourism Promotion at Egyptian Tourism Authority, said: "We are thrilled to partner with Wego and promote our country through this joint campaign. We will benefit from Wego's large user base in the MENA region, which will enable us to drive more traffic to Egypt and attract holidaymakers in the summer season."
During this period, Egypt comes alive with music, dance, and traditional festivities. Moreover, tourists can explore Egypt's stunning beaches, desert landscapes, all of which make Egypt a unique and unforgettable destination.
About Wego
Wego provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
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