Travelport released revenue statistics for the third quarter of 2017, yesterday. Commenting on the numbers Gordon Wilson (main picture), president and CEO of Travelport, cited the Asian market as being particularly important to the revenue increase.
“Our Travel Commerce Platform delivered revenue growth of five percent for the quarter, which included revenue growth across all International regions and a particularly strong performance in Asia where we continue to gain air market share. Our leadership there has been further strengthened by our partnership with India’s largest OTA, MakeMyTrip, together with the signing of Traveloka, which is the leading OTA in Indonesia and will now leverage our technologies to expand across Asia. In Beyond Air, we continue to see good momentum in hotel and car bookings, while our commercial payments business eNett accelerated to 30 percent revenue growth for the quarter, driven by transaction growth with several major European and Asian OTAs.
Mr Wilson continued, “Our Adjusted EBITDA decreased in the quarter, with several of our planned technology investments moving from design to implementation phase, as we further expand our products and capabilities. We also incurred higher commercial expenditure relating to the growth and ongoing implementation of our signed new business.”
As our mix of business continues to pivot towards the fast-growing online channel, I am confident that these investments will drive sustainable longer-term growth. For the full year 2017, we anticipate Adjusted EBITDA growth to be within the 2 to 4 percent range as guided’, he added.