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Webjet confirms guidance is unchanged, shares rise

The company is presenting at the Goldman Sachs small and mid-cap conference.
growth concept with stairs
The wholesale segment, WebBeds, has become the #2 player globally in under 5 years

Webjet Ltd (ASX:WEB) has noted that contrary to a Bloomberg headline, it’s FY18 guidance remains unchanged.

Shares have bounced 20 cents to $10.46 in morning trade.

The company is presenting at the Goldman Sachs small and mid-cap conference which is running today and tomorrow.

A digital travel business targeting both consumers and wholesale

Webjet is a digital travel business spanning both consumer and wholesale markets.

In the consumer segment, it owns s www.webjet.com.au where users can compare and book flights, hotels, car rentals, cruises and tours.

It also own Online Republic which is a New Zealand-based online aggregator where users can compare and book motorhome rentals, car rentals and cruises. 

The company’s business or wholesale segment comprises of WebBeds, an online fulfilment of hotel room bookings for travel industry clients.

WebBeds is the #2 global player with less than 3% of total global market share.

WebBeds is the fastest growing business to business (B2B) player in the world.

The company sees significant market growth potential with the global market representing over US$50 billion total transaction value (TTV) per year.

It is a highly fragmented market with few global players and Webjet believes industry consolidation represents a significant opportunity to gain share.

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