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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TRAVEL TECHNOLOGY
businesswire | April 24, 2023
Canada Jetlines Operations Ltd. has confirmed that Travel Agents in Canada will soon be able to view and book Canada Jetlines inventory via the Travelport Distribution System.
Travelport, a global technology company that powers bookings for hundreds of thousands of travel suppliers worldwide, and Canada Jetlines, have executed a long-term agreement to bring New Distribution Capability (NDC) content and travel retailing technology solutions to the airline.
Joining the Travelport global marketplace will enable Canada Jetlines to enhance its geographic reach and target new leisure traveler segments, while providing travel agents with increased options to create optimal travel experiences for their clients.
"Canada Jetlines’ business plan from day one believed that having our content on as many shelves as possible, at the right time, and at the right price, while offering our travel trade partners competitive earning opportunities, would contribute to our growth plans. We are looking forward to providing rich content through the Travelport+ platform, placing Jetlines inventory and services in the hands of travel agents around the world,” said Canada Jetlines Chief Commercial Officer, Duncan Bureau.
“As the only travel retailing platform built for agents, our partnership with Canada Jetlines will further expand our content portfolio on Travelport+ so that our customers can offer more choice and the best options for their customers. Our Travelport+ platform will greatly support Canada Jetlines to help them expand their reach to more retailers,” said Craig Banks, Head of Commercial, Air Partners – Americas.
The implementation of the Travelport Distribution System is expected to be completed and ready for use during the current quarter.
About Canada Jetlines
Headquartered in Mississauga, Ontario, Canada Jetlines, an airline with a value-focused leisure carrier, utilizes a growing fleet of Airbus A320 aircraft for more travel options to preferred locations within the U.S., Caribbean, and Mexico. It has been connecting with travel agencies for transformation and convenience in the air travel industry since 2021. With an experienced team and efficient aircraft design, it provides cost-effective and competitive flight options to the Canadian market and beyond. With a state-of-the-art web booking platform, it makes turnkey solutions available to travel agents, tour operators, and consumers. In addition, it generates revenue from reservations and ancillary sales.
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TRAVEL TECHNOLOGY
businesswire | May 08, 2023
AMTD IDEA Group together with our subsidiary, AMTD Digital Inc. are happy to announce that the Singapore Building and Construction Authority (BCA) has granted us the License Permit to display and showcase “DAO AMTD” signage on top of the DAO by Dorsett AMTD Singapore.
The latest development serves to demonstrate our unwavering commitment to Singapore as the headquarters of AMTD Digital and to further showcase our brand values in the hospitality industry.
The DAO by Dorsett AMTD Singapore is strategically located in the vibrant central district of Singapore, offering luxurious accommodation to business and leisure travellers alike. The hotel also features high-end amenities and facilities that cater to the discerning taste of guests. With the display of the “DAO AMTD” signage, our guests can now easily identify and locate the hotel from a distance, making their travel experience seamless.
Dr Timothy Tong, Chairman of AMTD Digital, expressed his delight at this development, “We are extremely proud that the DAO by Dorsett AMTD Singapore has received the BCA License Permit to now officially display the DAO AMTD signage on top of its building. We are committed to contributing and creating a sustainable future for Singapore, enhancing the hospitality industry, and further building a strong connectivity between AMTD and the Singaporean community.”
As we continue to build our brand in Singapore and beyond, AMTD IDEA Group and AMTD Digital remain fully committed to providing the best-in-class services to our guests and partners, in person and digitally. We would also like to take this opportunity to thank our staff, partners and stakeholders for their support and contribution towards our success.
AboutDorsett AMTD Singapore
Dao by Dorsett AMTD Singapore; tailored from arrival. Located in the heart of Singapore's Central Business District, Dao by Dorsett AMTD Singapore features 268 high quality serviced apartment units with excellent connectivity, designed to cater to the needs of discerning international business and leisure travlers. Complete your stay with a variety of key recreational facilities, including a 24-hour fitness center, outdoor infinity pool, and The Living Room (Residents’ lounge).
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