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Wotif.com Shows Resilience in Choppy Market


By Ian Neubauer

Wotif.com has demonstrated its business model is resilient in the face of economic uncertainty after it reported a 31 per cent increase in profit for the 2007-08 fiscal year.

The online accommodation broker sold a record 4.91 million room nights across its operations, delivering a 29 per cent increase compared to last year. It lifted revenues to $94 million and net profit after tax to $34.5 million.

Wotif.com managing director Graeme Wood credited a continuing drift of travelers in search of cheap accommodation to websites and the part-year contribution of its newly acquired assets travel.com.au and Asia Web Direct for driving the result.

“More than ever, customers are looking for great value and the choice and convenience offered by our online accommodation and travel sites,” he said.

“Suppliers are benefiting from the customer reach and cost-effective distribution platforms that we offer. With more than 7.7 million visits… each month, we provide our suppliers with access to an enormous customer base.”

Cooke added that the group’s recent acquisition positioned it well for future growth.

Travel.com.au provides the group with the capability to extend its offering into flights, car hire, travel insurance, holiday packages, leisure experience and corporate travel and MICE business.

Asia Web Direct extends the group’s geographic reach and accommodation offering in Southeast Asia. 

Since launching in 2000, Whatif.com has grown into a global corporation with more than 400 staff across 13 countries. It has offices in Australia, New Zealand, Singapore, Thailand, Malaysia, the UK and Canada.

Whatif.com shares were trading for $3.89 at 3:00pm today (September 3) compared to $3.32 seven days prior.