The hotel aggregator business spun out of Webjet has defied a slowdown in sales reported by other travel operators, saying it is seeing strong growth in bookings.
Web Travel Group, which houses the WebBeds business that sells bulk hotel rooms to online travel agents, posted 20 per cent growth in bookings in the year to March 31 and said strong momentum had continued in the following eight weeks, helping its shares to jump almost 14 per cent on Wednesday to $5.32.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
