On a holiday 14 years ago, two Byron Bay shop owners dreamt up the idea of offering bucket list travel experiences at an affordable price.
Create a free account to read this article
$0/
(min cost $0)
or signup to continue reading
This month, the remaining shares in the company that grew from that dream, TripADeal, will be sold to Qantas for $211 million, making it the sole owner.
Qantas acquired a majority stake in TripADeal in 2022 and will purchase the remaining 49 per cent of the online travel company in a transaction that was expected to be completed by the end of June 2024.
TripADeal launched in 2011, the brainchild of Byron Bay shop owners Richard Johnston and Norm Black, who sought to offer "bucket list travel experiences in Australia and around the globe at prices that were accessible to everyone".
Those travel experiences included tours in Europe, Asia Africa, and America, cruise holidays along the Antarctic Peninsula, or resort escapes on the Gold Coast - "no travel dream would be too big or small".
TripADeal has grown to be a major player on the Australian travel scene, winning awards and taking millions of travellers around the world.
'A proud moment'
The purchase will see the founders of TripADeal, Norm Black and Richard Johnston, depart the business.
Mr Black and Mr Johnston said they were proud of the travel experiences they were able to offer Australians and of the company they built.
"As founders of a home-grown business that has made it easier for millions of Australians to take amazing holidays at the click of a button, this is a proud moment for us.
"We have worked hard to build and grow TripADeal from the ground up and know Qantas will take it into a new era of success."
Matt Wolfenden, who has been with the company for seven years, has been promoted to CEO and will lead the 150-strong team in Byron Bay and tour guides based in 30 countries.
Qantas Loyalty CEO Andrew Glance congratulated Mr Black and Mr Johnston on the success of their venture.
"Norm and Richard should be congratulated for building an incredibly successful, Australian-born business, and we couldn't be more pleased to be custodians of TripADeal moving forward," Mr Glance said.
"TripADeal has been building on-trend and well-priced holiday packages for over a decade and has delighted millions of holidaymakers in the process. This success has only been turbocharged by the Qantas partnership, and the opportunity for our members to earn and use their points."
The majority stake acquisition by Qantas in TripADeal in 2022 enabled its Frequent Flyers to earn and use their Qantas Points on the travel company's ready-made holiday packages.
Qantas says the full purchase of TripADeal will allow it to tap into the online holiday packages market, offering a more tailored and integrated experience for Qantas Frequent Flyers.
"With TripADeal bookings growing at 70 per cent over the last year, and more opportunities to strengthen the offering and realise further synergies, this deal is great news for our customers and the Loyalty business more broadly," Mr Glance said.
During July 2024, Qantas members will receive a 30 per cent discount on bookings made with points.
TripADeal will continue to operate as an independent business, working with a range of travel partners and airlines, including Qantas and Jetstar, to build and deliver ready-made packages.
This transaction is the latest expansion for Qantas Loyalty. The investment "is expected to deliver a strong result for shareholders with returns exceeding the Qantas Group's internal hurdles".
