Innovation investment driving growth and business wins says Travelport

Travelport is sticking by its guidance for full-year 2018 following small gains in revenue and income for the first quarter of the year.

The company has reported a 4% increase in net revenue to $678 million and a 6% increase in net income to $59 million. Adjusted EBITDA however was down 9% to $154 million.

Splitting out the results, the company says revenue for its Travel Commerce Platform was up 5% to $653 million while Technology Services decreased 12% attributed to the sale of IGT Solutions Private a year ago.

Beyond Air revenue increased 22% to $180 million and contributed 28% of revenue for the Travel Commerce Platform.

Payments business eNett, which is part of Beyond Air, was again a strong performer with net revenue up 81% to $74 million.

President and chief executive Gordon Wilson hailed the strong start to the year with some of the results ahead of expectations.

He also attributed new business wins and contract renewals to the company’s investment in innovation.

Speaking to tnooz, Wilson said that Priceline is now using Travelport’s “next gen” API which is faster and easier for OTAs to integrate.

He also said OTA business overall is growing at over twice the market rate globally. In Asia, in particular, Wilson says the company has a 35% share of the online travel agency market with the potential to grow to more than 50%.

He attributed the share gains to “speed and quality of search”, unique content and the support provided to customers.

Travelport renewed its agreement with Priceline at the beginning of April. It has also recently signed a technology and content partnerships with Nordic-based agency G Travel. The contract will also see G Travel, which has agencies across Norway, Sweden and beyond, implement data analytics tool Travelport Business Insights.

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About the Writer :: Linda Fox

Linda is Managing Editor for tnooz. For the past decade, she has worked as a freelance journalist across a range of B2B titles including Travolution, ABTA Magazine, Travelmole and the Business Travel Magazine. In this time she has also undertaken corporate projects for a number of high profile travel technology, travel management, and research companies. Prior to her freelance career, she covered hotels and technology news for Travel Trade Gazette for seven years. Linda joined TTG from Caterer & Hotelkeeper where she worked on the features desk for more than five years.

 

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