HELLOWORLD Travel now commands 17.5% of the corporate travel market in Australia, making it the second largest TMC after Flight Centre’s various brands such as FCM and Corporate Traveller, which together hold an estimated 29%.
The figures were unveiled yesterday during the CTC-CAPA Corporate Travel Gathering by Ord Minett Senior Analyst John O’Shea, who noted recent HLO acquisitions including TravelEdge (TD 24 Sep) had boosted the company’s market share.
O’Shea, who has been following the sector closely for many years, said he believed the annual “managed travel” market in Australia is worth about $8 billion in TTV, along with around $1.2 billion in New Zealand.
Corporate Travel Management was in third spot with an estimated 16.5% market share, followed by American Express Travel/HRG with 15%.
Other players noted included CT Partners which was just behind Amex with 14%, followed by CWT with an estimated 5% share.
The analyst painted a bleak picture of prospects for 2020, noting a steady decline in key metrics such as business and consumer confidence ratings.
O’Shea also tracks passenger numbers and capacity rates on key routes such as MEL-SYD and SYD-BNE, which also indicated slowing levels of demand growth.
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Source: traveldaily