“We are delighted that our partnership with Serko has renewed and are looking forward to the opportunities ahead,” Wood said.
The revenue share under the renewal agreement will continue at the same ratio for current volumes with a new tiered system for higher incremental volumes.
The model allowed for significant volume growth at the current commission levels to mutually incentivise and benefit both parties while providing a solid base for profitability.
Serko also provided a trading update for unaudited 2024 income and selected supporting metrics in advance of its audited results.
For the twelve months to 31 March, 2024, total income was approximately $71 million. Total income is estimated to be up 48 per cent on 2023 and above the middle of the guidance range provided at half year results in November which had been revised up from $63 million to $70 million to $67 million to $74 million.
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