1 00:00:03,680 --> 00:00:06,040 Speaker 1: Welcome to Shared Lunch, brought to you by chairs Eas 2 00:00:06,280 --> 00:00:08,680 Speaker 1: at Chareza's are on a mission to create financial empowerment 3 00:00:08,720 --> 00:00:12,000 Speaker 1: for everyone. I'm Sonya Williams, Coco and co founder at 4 00:00:12,039 --> 00:00:14,920 Speaker 1: chairs EA's, and today we are diving into the business 5 00:00:14,920 --> 00:00:18,880 Speaker 1: of travel. Talking to CEO of Webjet Group, Katrina Barry. 6 00:00:18,600 --> 00:00:22,239 Speaker 2: Travel as a percentage of discretionary spend is that its 7 00:00:22,360 --> 00:00:25,279 Speaker 2: highest ever percentage of all time. 8 00:00:25,400 --> 00:00:28,120 Speaker 1: To talk about the future of Webjet and the future. 9 00:00:27,760 --> 00:00:31,280 Speaker 2: Of travel, Generation Y, Generation Z they will plan and 10 00:00:31,360 --> 00:00:34,360 Speaker 2: tire trips off TikTok. I think we use AI very well. 11 00:00:34,440 --> 00:00:36,440 Speaker 2: As you say, do you build it, buy it or 12 00:00:36,440 --> 00:00:38,800 Speaker 2: borrow it? Now it's built it by borrow. 13 00:00:38,560 --> 00:00:39,159 Speaker 3: Or bot it. 14 00:00:39,440 --> 00:00:42,000 Speaker 1: Webjet has also been in the spotlight lately following its 15 00:00:42,040 --> 00:00:45,960 Speaker 1: recent takeover. Bit Before we get started, there's important information 16 00:00:46,040 --> 00:00:47,040 Speaker 1: you should always consider. 17 00:00:47,520 --> 00:00:50,120 Speaker 4: Investing involves the risk you might lose the money you 18 00:00:50,159 --> 00:00:53,440 Speaker 4: start with. We recommend talking to a licensed financial advisor. 19 00:00:54,160 --> 00:00:58,000 Speaker 4: We also recommend reading product disclosure documents before deciding to invest. 20 00:00:58,240 --> 00:01:00,640 Speaker 4: Everything you're about to see and hear is current at 21 00:01:00,640 --> 00:01:01,360 Speaker 4: the time of recording. 22 00:01:01,400 --> 00:01:03,840 Speaker 1: We'd like to acknowledge the gadagaul people of the or 23 00:01:03,960 --> 00:01:07,080 Speaker 1: nation where we're recording from today and pay respects to 24 00:01:07,160 --> 00:01:11,880 Speaker 1: elders past and present. Welcome Katrina, Hello son, You're lovely 25 00:01:11,920 --> 00:01:13,839 Speaker 1: to be here, Lovely to have you back. 26 00:01:14,120 --> 00:01:15,400 Speaker 3: Yeah, I know, it's been a while. 27 00:01:15,480 --> 00:01:18,720 Speaker 1: I know, And so we spoke last September and was 28 00:01:18,840 --> 00:01:22,560 Speaker 1: just going through the d merger. What's been happening since then? 29 00:01:23,160 --> 00:01:25,640 Speaker 3: Oh, well, I haven't been bored, let me tell you that. 30 00:01:26,360 --> 00:01:29,759 Speaker 2: So on the first of October we got the final 31 00:01:30,040 --> 00:01:33,360 Speaker 2: sign through of the merger and I guess what we've 32 00:01:33,360 --> 00:01:35,240 Speaker 2: been up to as a team since then is we 33 00:01:35,360 --> 00:01:38,880 Speaker 2: decided to take a big, hard, honest, clear. 34 00:01:38,720 --> 00:01:40,039 Speaker 3: Eyed look at ourselves. 35 00:01:40,080 --> 00:01:43,080 Speaker 2: So we did a big strategy piece working through I 36 00:01:43,080 --> 00:01:45,440 Speaker 2: guess where is everything going and travel with everything going 37 00:01:45,440 --> 00:01:48,760 Speaker 2: in tech agentic AI, where is it all leading us to? 38 00:01:49,600 --> 00:01:52,440 Speaker 2: So that included a lot of numerical stuff but also 39 00:01:52,680 --> 00:01:55,440 Speaker 2: really exciting brand research and coming off the back of that, 40 00:01:55,600 --> 00:01:58,040 Speaker 2: we've laid out our plan now. So now we have 41 00:01:58,160 --> 00:02:01,840 Speaker 2: a very clear and robust strategy to double our ttv 42 00:02:02,480 --> 00:02:04,559 Speaker 2: SO from one point six to three point two billion 43 00:02:05,280 --> 00:02:06,440 Speaker 2: over the next five years. 44 00:02:06,560 --> 00:02:08,200 Speaker 1: And last time we talked about I mean, you're from 45 00:02:08,240 --> 00:02:12,720 Speaker 1: an amazing retail background. We talked about the brand maybe 46 00:02:12,720 --> 00:02:16,560 Speaker 1: getting a bit of a glow up. How's that eventuated? 47 00:02:16,800 --> 00:02:18,400 Speaker 3: So look is going really well. So we did the 48 00:02:18,400 --> 00:02:19,040 Speaker 3: brand research. 49 00:02:19,040 --> 00:02:21,959 Speaker 2: We spoke about three and a half thousand Strands and 50 00:02:22,040 --> 00:02:24,520 Speaker 2: Kiwis and you know, wanted to get their take on 51 00:02:24,560 --> 00:02:27,640 Speaker 2: the entire travel landscape from not just our brand, but 52 00:02:27,800 --> 00:02:31,240 Speaker 2: all of our competitive brands. And we looked into and 53 00:02:31,560 --> 00:02:34,160 Speaker 2: you know, really went deep on the data and their 54 00:02:34,200 --> 00:02:36,920 Speaker 2: preferences in their thinking on each of those three and 55 00:02:36,919 --> 00:02:40,960 Speaker 2: a half thousand customers their last three transaction. So that's 56 00:02:41,000 --> 00:02:44,079 Speaker 2: a big body of data and understanding of the industry. 57 00:02:44,800 --> 00:02:47,160 Speaker 2: So we took that the keiso what's from us? 58 00:02:47,600 --> 00:02:48,079 Speaker 3: For us? 59 00:02:48,120 --> 00:02:51,480 Speaker 2: From that was seventy three percent of strands and Keywi's 60 00:02:51,560 --> 00:02:56,200 Speaker 2: no and love and trust Webjet. So I think that 61 00:02:56,400 --> 00:02:59,040 Speaker 2: was our hypothesis, but it's great to have that confirmed. 62 00:03:00,280 --> 00:03:02,359 Speaker 2: And they said to us, you know, key insights such 63 00:03:02,360 --> 00:03:05,040 Speaker 2: as you know what I know you guys for flights. 64 00:03:05,840 --> 00:03:08,000 Speaker 2: I didn't realize you did other stuff, but it'd be 65 00:03:08,080 --> 00:03:10,760 Speaker 2: great if I could do all of my travel planning 66 00:03:10,840 --> 00:03:13,600 Speaker 2: with you. So that's led to a corporal of our 67 00:03:13,639 --> 00:03:16,639 Speaker 2: strategy in terms of us really starting to re emphasize 68 00:03:17,440 --> 00:03:23,000 Speaker 2: our solutions around hotels, around stays, around tours and packages, 69 00:03:23,040 --> 00:03:25,800 Speaker 2: et cetera that we're now sort of leaning into. So 70 00:03:25,880 --> 00:03:28,880 Speaker 2: it was really a deep piece of work. Off the 71 00:03:28,919 --> 00:03:31,960 Speaker 2: back of that, it's also informed the aesthetic, so the 72 00:03:32,000 --> 00:03:35,320 Speaker 2: look and the feel and how that translates into user experience. 73 00:03:35,720 --> 00:03:38,600 Speaker 2: So the glow ups coming along very nicely and we're 74 00:03:38,640 --> 00:03:41,880 Speaker 2: really looking forward to launching that to the Aussie and 75 00:03:41,920 --> 00:03:44,440 Speaker 2: Keywi public and the second half of this year. 76 00:03:44,720 --> 00:03:47,480 Speaker 1: Any kind of hints at what that might be taking 77 00:03:47,520 --> 00:03:50,360 Speaker 1: shape into or the Zene the secrets. 78 00:03:49,920 --> 00:03:52,000 Speaker 2: The thing that came back to us really strongly was 79 00:03:52,040 --> 00:03:56,040 Speaker 2: this is the brand that Astraans and New Zealanders resonate 80 00:03:56,080 --> 00:03:58,480 Speaker 2: with and they trust it. And what we don't want 81 00:03:58,520 --> 00:04:03,400 Speaker 2: to change that, don't want to revolutionize it. 82 00:04:03,400 --> 00:04:04,480 Speaker 3: It's about evolution. 83 00:04:05,000 --> 00:04:06,560 Speaker 2: So I think the key thing is just spanking it 84 00:04:06,720 --> 00:04:09,720 Speaker 2: really fresh, contemporary and irrelevant and that's what you'll see. 85 00:04:10,200 --> 00:04:14,280 Speaker 1: Yeah, and you've also had some interesting stuff happen that 86 00:04:14,360 --> 00:04:17,559 Speaker 1: has been in the headlines with BGH Capital recently trying 87 00:04:17,560 --> 00:04:20,520 Speaker 1: to make a takeover bid. What can you tell us 88 00:04:20,560 --> 00:04:20,960 Speaker 1: about this? 89 00:04:21,960 --> 00:04:24,920 Speaker 2: Sure, Well, there's not much I can I can share 90 00:04:24,960 --> 00:04:26,760 Speaker 2: with you, To be honest, you know, with subject to 91 00:04:26,760 --> 00:04:30,640 Speaker 2: Act disclosures on this, but what I can tell you is, 92 00:04:30,720 --> 00:04:31,080 Speaker 2: you know. 93 00:04:31,400 --> 00:04:36,719 Speaker 3: I think this is not unexpected in my view. 94 00:04:36,720 --> 00:04:39,440 Speaker 2: I think people are waking up to what ourselves at 95 00:04:39,440 --> 00:04:41,760 Speaker 2: Webjet and our board have known for a long time, 96 00:04:42,200 --> 00:04:46,359 Speaker 2: which is this this stock w j L is training 97 00:04:46,360 --> 00:04:49,680 Speaker 2: at a significant discount to its potential and to the 98 00:04:49,720 --> 00:04:53,960 Speaker 2: fact that it prints off a very very strong IBIDA 99 00:04:54,080 --> 00:04:57,520 Speaker 2: every year. We just closed out our annual results and. 100 00:04:57,440 --> 00:04:58,640 Speaker 3: We delivered. 101 00:05:00,360 --> 00:05:02,560 Speaker 2: EBITDA for the whole group of thirty nine point four 102 00:05:02,560 --> 00:05:06,080 Speaker 2: million dollars with no debt and a very strong balance 103 00:05:06,120 --> 00:05:08,480 Speaker 2: shed one hundred and eighteen million dollars. So I think 104 00:05:08,520 --> 00:05:11,440 Speaker 2: people are looking at that. They see a consistent business 105 00:05:11,839 --> 00:05:15,400 Speaker 2: that you know, princes of Ebida every year, that is 106 00:05:15,440 --> 00:05:19,039 Speaker 2: the leader in online travel space. And I think they're 107 00:05:19,080 --> 00:05:21,960 Speaker 2: going to see what we think, which is a significant 108 00:05:21,960 --> 00:05:25,320 Speaker 2: potential in this business and we're only just getting started. 109 00:05:26,240 --> 00:05:29,760 Speaker 2: The point of the merger was to allow the former 110 00:05:29,920 --> 00:05:33,000 Speaker 2: Webjet Limited business to split into a B to B 111 00:05:33,120 --> 00:05:37,040 Speaker 2: division and a B two C division, and the objective 112 00:05:37,080 --> 00:05:39,440 Speaker 2: of that was to allow both businesses to focus on 113 00:05:39,480 --> 00:05:43,040 Speaker 2: their unique customers and challenges. And this is a business 114 00:05:43,200 --> 00:05:47,040 Speaker 2: that you only have to believe in two things if 115 00:05:47,080 --> 00:05:49,919 Speaker 2: you think it's it's got the right to win. The 116 00:05:49,960 --> 00:05:52,520 Speaker 2: first one is do you think people are going to 117 00:05:52,520 --> 00:05:56,520 Speaker 2: continue to travel? I think there's an obvious answer to that. 118 00:05:56,520 --> 00:06:00,320 Speaker 2: For Austraands in New Zealanders, we are intrepid folk and 119 00:06:00,440 --> 00:06:02,800 Speaker 2: we're always going to go and see the world. And 120 00:06:02,839 --> 00:06:05,599 Speaker 2: the next piece you need to believe is do you 121 00:06:05,680 --> 00:06:09,640 Speaker 2: believe that every retail category is going to continue to 122 00:06:09,680 --> 00:06:12,839 Speaker 2: go online and that tech and AI is going to 123 00:06:12,920 --> 00:06:17,440 Speaker 2: enable that. You know, for me, I'm being focused most 124 00:06:17,480 --> 00:06:19,960 Speaker 2: of my career on e commerce, so I believe that's 125 00:06:20,000 --> 00:06:24,240 Speaker 2: a strong yes to that. We're significantly underpenetrated for the 126 00:06:24,279 --> 00:06:27,800 Speaker 2: sale of travel online in Australia New Zealand than we 127 00:06:27,839 --> 00:06:30,960 Speaker 2: are overseas, so there's a nice little tail in there. 128 00:06:30,800 --> 00:06:32,680 Speaker 3: That we've got in built growth to go. 129 00:06:33,279 --> 00:06:36,240 Speaker 2: So I think what the market is doing is realizing 130 00:06:37,040 --> 00:06:41,240 Speaker 2: business with significant potential. The fundamentals are there in terms 131 00:06:41,240 --> 00:06:46,440 Speaker 2: of this is a well known brand, strong awareness, strong trust. 132 00:06:46,960 --> 00:06:51,360 Speaker 2: This category, like most retail categories, is going to continue 133 00:06:51,360 --> 00:06:53,480 Speaker 2: to grow online. So it's got a very nice set 134 00:06:53,480 --> 00:06:55,320 Speaker 2: of sundamentals and I think that's why we're getting a 135 00:06:55,320 --> 00:06:55,839 Speaker 2: bit of attention. 136 00:06:56,279 --> 00:06:59,560 Speaker 1: And speaking of that attention, Hello World, which aren't they 137 00:06:59,560 --> 00:07:03,520 Speaker 1: competed of yours have bought a steak and Webjet group. 138 00:07:04,040 --> 00:07:07,279 Speaker 2: You know, the travel industry is famous for understanding travel 139 00:07:07,680 --> 00:07:12,200 Speaker 2: and value amongst its peer group, and Hello World is 140 00:07:12,440 --> 00:07:14,280 Speaker 2: you know one of our competitors. There are bricks and 141 00:07:14,360 --> 00:07:19,000 Speaker 2: mortar or a storefront form of distributing travel. We're an 142 00:07:19,000 --> 00:07:23,760 Speaker 2: online one, so I'm sure they see us as a competitor, 143 00:07:24,240 --> 00:07:27,560 Speaker 2: but I also think, like most businesses, we may be 144 00:07:27,600 --> 00:07:28,600 Speaker 2: an interesting investment. 145 00:07:28,800 --> 00:07:31,920 Speaker 1: So you're competing with travel agents. Why would someone choose 146 00:07:31,920 --> 00:07:33,360 Speaker 1: webjet over a travel agent? 147 00:07:34,280 --> 00:07:37,320 Speaker 2: Well, webjet is a travel agent. We're just an online 148 00:07:37,360 --> 00:07:41,000 Speaker 2: travel agent. And I think where people are going to 149 00:07:41,760 --> 00:07:46,240 Speaker 2: is why would I drive for twelve kilometers and then 150 00:07:46,360 --> 00:07:49,040 Speaker 2: find a park, and then wander through the moor to 151 00:07:49,080 --> 00:07:52,840 Speaker 2: find that store, and then the queue whilst there's no 152 00:07:52,840 --> 00:07:55,640 Speaker 2: one available, and then wait for a twenty two year 153 00:07:55,680 --> 00:07:57,560 Speaker 2: old to give my life savings for for this big 154 00:07:57,560 --> 00:07:58,400 Speaker 2: trip that I want to do. 155 00:07:59,640 --> 00:08:01,040 Speaker 3: I don't see. 156 00:08:00,880 --> 00:08:03,320 Speaker 2: Why anyone should be doing that, Like we should all 157 00:08:03,320 --> 00:08:05,720 Speaker 2: be able to do this beautifully online in our track 158 00:08:05,760 --> 00:08:08,680 Speaker 2: your decks, sitting on our couch and curate that and 159 00:08:08,760 --> 00:08:12,280 Speaker 2: all be delivered to you automatically within five minutes rather 160 00:08:12,280 --> 00:08:13,280 Speaker 2: than sitting there waiting. 161 00:08:13,120 --> 00:08:14,440 Speaker 3: For two hours for it to be curated. 162 00:08:14,880 --> 00:08:15,840 Speaker 1: So the way that. 163 00:08:15,800 --> 00:08:18,320 Speaker 2: Technology is going, in the way that AI is being 164 00:08:18,400 --> 00:08:20,760 Speaker 2: used within that, it's just going to be the most 165 00:08:20,800 --> 00:08:23,480 Speaker 2: easiest thing to do it with your thumbs sitting on 166 00:08:23,720 --> 00:08:24,280 Speaker 2: your couch. 167 00:08:25,200 --> 00:08:27,120 Speaker 1: So let's chat about travel. It was one of the 168 00:08:27,120 --> 00:08:31,440 Speaker 1: beliefs that people are going to continue to travel. How 169 00:08:31,480 --> 00:08:32,839 Speaker 1: are you saying that at the moment. What are the 170 00:08:32,880 --> 00:08:33,920 Speaker 1: trends happening in travel? 171 00:08:34,440 --> 00:08:37,200 Speaker 2: So it's proven to be very resilient even in this 172 00:08:37,360 --> 00:08:41,960 Speaker 2: environment where there's such a strong cost of living crisis 173 00:08:41,960 --> 00:08:45,520 Speaker 2: that's continuing amongst you know, both Australia and New Zealand 174 00:08:45,520 --> 00:08:49,319 Speaker 2: in terms of their domestic economies, and the macroeconomy certainly 175 00:08:49,400 --> 00:08:52,040 Speaker 2: isn't helping. I think the entire market is seeing a 176 00:08:52,120 --> 00:08:55,440 Speaker 2: bit of softening around retail and travels. You know, we're 177 00:08:55,440 --> 00:08:59,200 Speaker 2: not immune, and I think that's really starting to come 178 00:08:59,280 --> 00:09:01,360 Speaker 2: through since January this year. 179 00:09:01,960 --> 00:09:04,000 Speaker 3: But what I like, what. 180 00:09:03,920 --> 00:09:06,840 Speaker 2: I can you know, what amazes me and when I 181 00:09:06,880 --> 00:09:09,520 Speaker 2: think about is when you look at the ABS stats 182 00:09:10,160 --> 00:09:13,680 Speaker 2: in terms of another people returning from outbound if you will, 183 00:09:14,760 --> 00:09:18,160 Speaker 2: or international trips. You know, that figure is still really 184 00:09:18,200 --> 00:09:21,800 Speaker 2: really strong. It might be softening a bit, but travel 185 00:09:22,080 --> 00:09:25,360 Speaker 2: as a percentage of discretionary spend is that its highest 186 00:09:25,440 --> 00:09:29,640 Speaker 2: ever percentage of all time. So you know, that's a 187 00:09:29,679 --> 00:09:32,400 Speaker 2: fascinating thing if you think about it, given we're in 188 00:09:32,400 --> 00:09:35,520 Speaker 2: a cost of living crisis. That says to me, culturally, 189 00:09:36,000 --> 00:09:37,920 Speaker 2: it's one of those shifts that's come out of COVID. 190 00:09:38,600 --> 00:09:40,760 Speaker 2: You know the old saying, you know, if it you 191 00:09:40,760 --> 00:09:43,080 Speaker 2: always want some what you can't have. I think that's 192 00:09:43,080 --> 00:09:46,320 Speaker 2: how people are thinking about travel now. These are experiences, 193 00:09:46,400 --> 00:09:49,280 Speaker 2: This is joy and they got taken away from you 194 00:09:50,080 --> 00:09:52,360 Speaker 2: and so people want to really really hold on too that, 195 00:09:53,280 --> 00:09:55,200 Speaker 2: you know, same as I think working from home is. 196 00:09:55,360 --> 00:09:56,920 Speaker 2: You know, it's an end built change. Now it's a 197 00:09:56,920 --> 00:09:59,360 Speaker 2: cultural change that was seeing come out of COVID. I 198 00:09:59,360 --> 00:10:03,480 Speaker 2: think prioriti travel and travel experiences is a similar long 199 00:10:03,559 --> 00:10:04,400 Speaker 2: term change. 200 00:10:04,960 --> 00:10:08,480 Speaker 1: How do you see I guess social tourism, how does 201 00:10:08,520 --> 00:10:11,240 Speaker 1: that impact with jet and travel and how do you 202 00:10:12,320 --> 00:10:14,000 Speaker 1: how do you leverage that or do you leverage that? 203 00:10:14,120 --> 00:10:18,320 Speaker 2: I think different generations get their inspiration, you know what 204 00:10:18,360 --> 00:10:21,400 Speaker 2: I call content from different sort of places and Generation 205 00:10:21,679 --> 00:10:25,880 Speaker 2: Y and Generation Z you know who. They will plan 206 00:10:26,080 --> 00:10:29,560 Speaker 2: entire trips off TikTok. They will they will plan their weather, 207 00:10:29,720 --> 00:10:33,760 Speaker 2: going their hotels and obviously the food most important. Uh 208 00:10:33,960 --> 00:10:37,120 Speaker 2: you know, they'll plan all of that off TikTok. So 209 00:10:37,559 --> 00:10:39,840 Speaker 2: I think, you know, social commerce, if. 210 00:10:39,720 --> 00:10:42,280 Speaker 3: You will, is here to stay. 211 00:10:42,320 --> 00:10:44,400 Speaker 2: You know, it's really quite interesting our customers go across 212 00:10:44,400 --> 00:10:47,920 Speaker 2: all the generations. When I imaginally originally moved into the 213 00:10:48,000 --> 00:10:50,280 Speaker 2: role about a year ago, I was like, Oh, surely 214 00:10:50,320 --> 00:10:53,920 Speaker 2: it's more mature. We're quite even across all the age demographics. 215 00:10:54,800 --> 00:10:57,000 Speaker 2: But like every business, you need to be continuing to 216 00:10:57,120 --> 00:11:01,200 Speaker 2: grow that that those younger generations. So I see our 217 00:11:01,280 --> 00:11:06,880 Speaker 2: role as connecting with content providers social media and different 218 00:11:06,920 --> 00:11:09,480 Speaker 2: ways to you know, to interact with our customers across 219 00:11:09,480 --> 00:11:13,800 Speaker 2: social media, and that's our role, be there when they're 220 00:11:13,840 --> 00:11:14,720 Speaker 2: ready to execute. 221 00:11:15,280 --> 00:11:17,439 Speaker 1: Do you use influences as part of your strategy? 222 00:11:17,920 --> 00:11:20,600 Speaker 2: No, we haven't really, and it's again it's another area 223 00:11:20,600 --> 00:11:23,640 Speaker 2: that I think we will be investigating more and more 224 00:11:23,640 --> 00:11:28,120 Speaker 2: in the future. We've been highly transactional and I think 225 00:11:28,160 --> 00:11:30,559 Speaker 2: we need to move to be more relational, and that's 226 00:11:30,600 --> 00:11:33,040 Speaker 2: what our brand research told us. People know and they 227 00:11:33,040 --> 00:11:35,520 Speaker 2: love and they trust web jets. So whilst we're an 228 00:11:35,559 --> 00:11:38,840 Speaker 2: online business and everything we do is transacting online, we 229 00:11:38,920 --> 00:11:42,360 Speaker 2: have twenty four seven servicing, We have that that that 230 00:11:42,480 --> 00:11:45,839 Speaker 2: voice or you know, email chat, whatever you want to 231 00:11:45,880 --> 00:11:48,680 Speaker 2: do at the end of at the end of the 232 00:11:48,679 --> 00:11:52,960 Speaker 2: line when you get into trouble. And that's so much 233 00:11:53,000 --> 00:11:55,800 Speaker 2: better than something that's faceless and. 234 00:11:55,720 --> 00:11:59,839 Speaker 3: That you don't know or you know, somebody who's booked 235 00:11:59,840 --> 00:12:00,800 Speaker 3: it for you that you can't. 236 00:12:00,600 --> 00:12:03,400 Speaker 2: Get hold of because they've got weekends, you know, online 237 00:12:03,480 --> 00:12:04,520 Speaker 2: we don't have weekends. 238 00:12:04,559 --> 00:12:05,599 Speaker 3: We're always online. 239 00:12:06,120 --> 00:12:09,839 Speaker 1: How about competition, So globally you've got Booking dot Com, Expedia. 240 00:12:10,400 --> 00:12:14,040 Speaker 1: How does WE'BJE stand out from the global competition. 241 00:12:14,600 --> 00:12:14,800 Speaker 3: Yeah? 242 00:12:14,840 --> 00:12:19,800 Speaker 2: Sure, So with the global competition, most of the big behemoths, 243 00:12:20,120 --> 00:12:22,360 Speaker 2: so Booking dot Com and Expedia et cetera, they will 244 00:12:22,400 --> 00:12:25,920 Speaker 2: start out at hotel sites and they're doing very much 245 00:12:25,920 --> 00:12:28,400 Speaker 2: for our sturategy is too, which is selling across the 246 00:12:28,440 --> 00:12:32,800 Speaker 2: cell you know, the whole travel funnel now, so and 247 00:12:32,840 --> 00:12:34,600 Speaker 2: that is very much what we're we're trying to do 248 00:12:34,640 --> 00:12:37,240 Speaker 2: as well. The only difference is I don't have over 249 00:12:37,240 --> 00:12:41,240 Speaker 2: five billion dollars marketing budget and Tina fey, although I 250 00:12:41,280 --> 00:12:43,760 Speaker 2: would like to consider myself hilarious and maybe I'll step 251 00:12:43,800 --> 00:12:46,280 Speaker 2: into our own ad, but I don't think the marketing 252 00:12:46,320 --> 00:12:48,720 Speaker 2: partner is going to let that happen. But we're not 253 00:12:48,760 --> 00:12:50,920 Speaker 2: trying to be Booking dot Com or Expedia. We're not 254 00:12:50,920 --> 00:12:54,000 Speaker 2: trying to be a big global business. We are homegrown, 255 00:12:54,559 --> 00:12:59,920 Speaker 2: twenty seven nearly years young, and we are preferred for 256 00:13:01,320 --> 00:13:03,880 Speaker 2: a large section Australian as Ylanders who want to be 257 00:13:03,920 --> 00:13:07,080 Speaker 2: able to transact their travel all in one spot and 258 00:13:07,200 --> 00:13:09,960 Speaker 2: know that they've got Osie your Ki business at the 259 00:13:10,000 --> 00:13:13,280 Speaker 2: backup of that, you know, with servicing in our time 260 00:13:13,400 --> 00:13:17,640 Speaker 2: zone twenty four to seven. So I think that's you 261 00:13:17,640 --> 00:13:21,560 Speaker 2: know where we want to play. That said, though allegedly 262 00:13:21,640 --> 00:13:24,839 Speaker 2: there is a Tina Faith who lives in Adelaide. If 263 00:13:24,880 --> 00:13:27,920 Speaker 2: you're listening, please contact me because we can't afford the 264 00:13:28,000 --> 00:13:29,720 Speaker 2: other one, but we might be able to afford you. 265 00:13:30,720 --> 00:13:33,199 Speaker 1: Last time, I think we talked about revenge travel, which 266 00:13:33,240 --> 00:13:36,160 Speaker 1: is you know what you were talking about before, when 267 00:13:36,160 --> 00:13:37,640 Speaker 1: you're told you can't do something and then you want 268 00:13:37,679 --> 00:13:39,680 Speaker 1: to go and do it. So we thought we'd better 269 00:13:39,679 --> 00:13:43,840 Speaker 1: come with a new term, pleasure. Have you heard of pleasure? Pleasure. 270 00:13:44,040 --> 00:13:46,160 Speaker 3: You know what I've heard about pleasure. I wish I'd 271 00:13:46,200 --> 00:13:48,120 Speaker 3: spent more of my life focusing on pleasure. 272 00:13:48,720 --> 00:13:50,440 Speaker 2: I was that nerdy did the business trips and just 273 00:13:50,480 --> 00:13:54,960 Speaker 2: went there and back, you know, to dedicated, and I 274 00:13:55,000 --> 00:13:57,880 Speaker 2: really think there needs to be more pleasure in life. Yeah, 275 00:13:57,960 --> 00:14:00,480 Speaker 2: I mean it's a very I think definitely post COVID, 276 00:14:02,320 --> 00:14:05,360 Speaker 2: a real opportunity and I think with more flexible working 277 00:14:06,240 --> 00:14:09,720 Speaker 2: mindsets that employeers have, we're seeing a lot of people, 278 00:14:09,760 --> 00:14:11,720 Speaker 2: you know, book for their work trip and then take 279 00:14:12,360 --> 00:14:14,960 Speaker 2: a few days either side, or you know, at least 280 00:14:15,160 --> 00:14:20,360 Speaker 2: a week either side to have a holiday experience. So 281 00:14:21,880 --> 00:14:24,040 Speaker 2: definitely on the rise. I think, definitely more on the 282 00:14:24,120 --> 00:14:27,360 Speaker 2: rise coming out of COVID, and a note to self 283 00:14:27,440 --> 00:14:31,640 Speaker 2: that as an overly dedicated professional women, we should probably 284 00:14:31,640 --> 00:14:33,000 Speaker 2: put more pleasure in our lives. 285 00:14:33,840 --> 00:14:36,000 Speaker 1: I don't mind a bit of pleasure, which is when 286 00:14:36,040 --> 00:14:40,080 Speaker 1: you merge business and leisure. Have you seen it dropping 287 00:14:40,120 --> 00:14:42,320 Speaker 1: off with more people returning to the office. 288 00:14:42,320 --> 00:14:46,480 Speaker 3: Or we haven't really noticed that as a change. 289 00:14:46,480 --> 00:14:51,960 Speaker 2: I mean, business travel is extremely resilient and despite you know, 290 00:14:52,520 --> 00:14:59,480 Speaker 2: escalating airline pricing around Australia and New Zealand, domestically, business 291 00:14:59,520 --> 00:15:04,240 Speaker 2: travel is softer, but it's just all very, very resilient. 292 00:15:05,520 --> 00:15:07,840 Speaker 1: So what's next for the travel industry. I think you 293 00:15:07,920 --> 00:15:11,840 Speaker 1: touched on AI before. I know, last time we caught up, 294 00:15:11,840 --> 00:15:14,800 Speaker 1: you were talking about how, you know, the multi destination 295 00:15:15,040 --> 00:15:17,040 Speaker 1: stops it was being you know, you were using some 296 00:15:17,120 --> 00:15:20,040 Speaker 1: AI to harness optimization there. Do you want to talk 297 00:15:20,080 --> 00:15:22,880 Speaker 1: about those kinds of trends and what's been going on 298 00:15:22,880 --> 00:15:23,400 Speaker 1: at Webjet? 299 00:15:23,880 --> 00:15:24,640 Speaker 3: Yeah? Sure, So. 300 00:15:24,960 --> 00:15:28,160 Speaker 2: I think our belief system is that AI is no 301 00:15:28,240 --> 00:15:29,560 Speaker 2: longer a future trend. 302 00:15:29,600 --> 00:15:31,080 Speaker 3: It is here and it is real. 303 00:15:32,360 --> 00:15:35,960 Speaker 2: And you know, I task my team with Okay, I 304 00:15:36,040 --> 00:15:38,240 Speaker 2: want you to just think critically of every single thing 305 00:15:38,240 --> 00:15:41,000 Speaker 2: in this business that we do and see where AI 306 00:15:41,120 --> 00:15:43,640 Speaker 2: can't help on an operational basis, and I think we 307 00:15:43,760 --> 00:15:46,560 Speaker 2: use AI very well on that level. A great example 308 00:15:46,640 --> 00:15:50,960 Speaker 2: is QA or quality assurance. So with all course into agents, 309 00:15:51,160 --> 00:15:53,680 Speaker 2: you'd have someone you know, logging in and listening to 310 00:15:53,720 --> 00:15:55,800 Speaker 2: your cause and going, oh, sonya, that was really great. 311 00:15:56,160 --> 00:15:56,840 Speaker 3: I loved it. 312 00:15:56,960 --> 00:15:59,320 Speaker 2: How when you spoke with that customer you said, X, 313 00:15:59,400 --> 00:16:01,880 Speaker 2: Y and Z next time. I think you can really 314 00:16:01,920 --> 00:16:04,520 Speaker 2: help them out a little bit more by doing ABC 315 00:16:05,480 --> 00:16:08,200 Speaker 2: so as a coaching formula. So now we just have 316 00:16:08,280 --> 00:16:12,880 Speaker 2: AI listen to it processes and summarize it up and 317 00:16:13,000 --> 00:16:14,760 Speaker 2: send that to the agent. 318 00:16:15,120 --> 00:16:17,120 Speaker 3: So operationally we use it really well. 319 00:16:18,040 --> 00:16:20,880 Speaker 2: Where we're doing lots of thinking right now is how 320 00:16:20,920 --> 00:16:23,200 Speaker 2: do we take it to that next level? You know, 321 00:16:23,200 --> 00:16:25,000 Speaker 2: I always used to say do you build it, buy 322 00:16:25,000 --> 00:16:27,280 Speaker 2: it or borrow it? Now it's built it by borrow 323 00:16:27,400 --> 00:16:30,800 Speaker 2: or bot it, So you know, really thinking about how 324 00:16:30,920 --> 00:16:35,160 Speaker 2: we use it within our strategy. And I think how 325 00:16:35,320 --> 00:16:39,520 Speaker 2: people curate any aspect of their life and any purchasing 326 00:16:39,560 --> 00:16:42,760 Speaker 2: decision is going to be fully informed by AI in 327 00:16:42,760 --> 00:16:46,960 Speaker 2: the future. And what AI does need though is brands. 328 00:16:47,800 --> 00:16:51,280 Speaker 2: So if we can put the bot and the brand together, 329 00:16:51,960 --> 00:16:55,080 Speaker 2: I think that is really a secure future for businesses 330 00:16:55,440 --> 00:16:59,280 Speaker 2: that could be dismediated by any amount of sort of 331 00:16:59,280 --> 00:17:01,280 Speaker 2: AI technology that's being developed right now. 332 00:17:02,000 --> 00:17:04,680 Speaker 1: How are you finding that kind of transition or change 333 00:17:04,800 --> 00:17:06,600 Speaker 1: as you lead the company? 334 00:17:06,760 --> 00:17:10,240 Speaker 2: Look, I think any transformation is really difficult. Change is difficult. 335 00:17:10,280 --> 00:17:13,600 Speaker 2: As humans, we don't actually like it. We're naturally creatures 336 00:17:13,640 --> 00:17:18,239 Speaker 2: of repeat, So change in transformation is really difficult. And 337 00:17:18,320 --> 00:17:22,240 Speaker 2: I think we're walking along a strong line of transformation 338 00:17:22,280 --> 00:17:25,800 Speaker 2: and Webjet. You know, we're twenty seven years young, and 339 00:17:25,840 --> 00:17:29,280 Speaker 2: as part of the broader group, it was a consistent 340 00:17:29,440 --> 00:17:34,000 Speaker 2: performer that didn't have a heap of investment. Now where 341 00:17:34,200 --> 00:17:37,840 Speaker 2: we've pulled that out, we've got of its own dedicated board, 342 00:17:38,119 --> 00:17:43,760 Speaker 2: its own dedicated balance sheet, and you know, some stronger 343 00:17:44,200 --> 00:17:47,840 Speaker 2: I guess additions coming into the business in terms of transformation, 344 00:17:48,560 --> 00:17:50,960 Speaker 2: and we're asking a lot of the business and that's 345 00:17:51,000 --> 00:17:53,840 Speaker 2: to you know, really go on a process of evolution. 346 00:17:54,800 --> 00:17:58,199 Speaker 2: But you know, please to say my business is you know, 347 00:17:58,280 --> 00:18:01,840 Speaker 2: really starting to evolve and adapt really really well. 348 00:18:01,960 --> 00:18:04,280 Speaker 1: When you think for the next five years, you know, 349 00:18:04,359 --> 00:18:08,000 Speaker 1: any other challenges or opportunities impacting your industry. 350 00:18:07,680 --> 00:18:10,200 Speaker 2: I think, you know, one key challenge will be level 351 00:18:10,240 --> 00:18:14,320 Speaker 2: of competition domestically for airlines. I'll be really interested to 352 00:18:14,359 --> 00:18:19,280 Speaker 2: see where that evolves to given we've lost Tiger, bondser 353 00:18:19,400 --> 00:18:23,160 Speaker 2: and Rex in the last you know, a couple of years. 354 00:18:23,160 --> 00:18:25,440 Speaker 2: So I think that'll be interesting to see how that evolves. 355 00:18:26,080 --> 00:18:29,640 Speaker 2: And I think AI and how it evolves in terms 356 00:18:29,680 --> 00:18:35,200 Speaker 2: of how it helps people curate plan book is the 357 00:18:35,240 --> 00:18:38,840 Speaker 2: sort of key trend that we're really watching. But for us, 358 00:18:38,840 --> 00:18:41,760 Speaker 2: specifically for Webjit for the next five years, we've outlaid 359 00:18:41,760 --> 00:18:45,080 Speaker 2: our plan now It's a very clear and robust strategy 360 00:18:45,200 --> 00:18:48,520 Speaker 2: and now we are one hundred percent focused on executing it. 361 00:18:49,160 --> 00:18:51,480 Speaker 3: There's a lot of other noise, but the most. 362 00:18:51,280 --> 00:18:54,800 Speaker 2: Important thing I have seen in my time in terms 363 00:18:54,840 --> 00:19:00,320 Speaker 2: of delivering value for your shareholders, whoever they are, is 364 00:19:00,320 --> 00:19:03,800 Speaker 2: about really focusing on your strategy and just delivering that. 365 00:19:04,600 --> 00:19:08,520 Speaker 2: So what is what's coming next, Well, there's the relaunch 366 00:19:08,560 --> 00:19:12,399 Speaker 2: of the brand that'll be some time later in this year. 367 00:19:13,160 --> 00:19:16,680 Speaker 2: At the same time, we'll relaunch our packages and tours offering. 368 00:19:17,040 --> 00:19:19,840 Speaker 2: So we're partnering with some great organizations such as Intrepid 369 00:19:19,880 --> 00:19:24,439 Speaker 2: and a travel corporation to add flights, package and tours 370 00:19:24,480 --> 00:19:28,360 Speaker 2: together to create a unique content, unique package, so we'll 371 00:19:28,359 --> 00:19:33,160 Speaker 2: be delivering that. We are looking at developing our own 372 00:19:33,200 --> 00:19:36,640 Speaker 2: loyalty program to create that real stickiness with our customers, 373 00:19:36,720 --> 00:19:39,240 Speaker 2: keep them coming back and reward them for doing so. 374 00:19:39,240 --> 00:19:41,719 Speaker 2: So we're currently very early stages but developing out our 375 00:19:41,800 --> 00:19:46,359 Speaker 2: loyalty strategy. And I guess the last piece is business travel. 376 00:19:46,400 --> 00:19:49,119 Speaker 2: We talked about a little bit leisure, business and leisure. 377 00:19:49,560 --> 00:19:53,199 Speaker 2: We talked a little bit about that before, but we 378 00:19:52,600 --> 00:19:56,280 Speaker 2: are we learned in our big strategy search last year 379 00:19:56,320 --> 00:20:01,560 Speaker 2: that we're actually by default a corporate travel advisor. People 380 00:20:01,680 --> 00:20:07,320 Speaker 2: love webjit for really transparency around fees and transparency around 381 00:20:07,320 --> 00:20:09,720 Speaker 2: that I'm getting the best price on that flight. And 382 00:20:09,760 --> 00:20:12,600 Speaker 2: the third thing, they love our mix and match matrix 383 00:20:12,640 --> 00:20:14,600 Speaker 2: where you can fly up with one airline and fly 384 00:20:14,720 --> 00:20:18,120 Speaker 2: back with another, getting that on one ticket, and most 385 00:20:18,160 --> 00:20:21,120 Speaker 2: airlines won't offer that, they won't offer their competition to you, 386 00:20:21,160 --> 00:20:23,679 Speaker 2: and we put that together for people. So it turns 387 00:20:23,720 --> 00:20:27,960 Speaker 2: out and smaller than medium sized businesses, they really appreciate 388 00:20:27,960 --> 00:20:31,520 Speaker 2: that transparency and the ability to deliver great you know, 389 00:20:31,560 --> 00:20:35,920 Speaker 2: ticket pricing and great travel expenses through. 390 00:20:35,760 --> 00:20:37,040 Speaker 3: To their CFO. 391 00:20:37,600 --> 00:20:39,520 Speaker 2: So we want to We've spoken to a lot of 392 00:20:39,520 --> 00:20:42,880 Speaker 2: those customers understand what are their two other three three 393 00:20:42,960 --> 00:20:47,800 Speaker 2: things that they really need to you know, sort of 394 00:20:47,920 --> 00:20:51,359 Speaker 2: us to become their preferred corporate travel provider or for 395 00:20:51,440 --> 00:20:54,119 Speaker 2: us to retract other customers in the small to medium 396 00:20:54,160 --> 00:20:58,280 Speaker 2: sized enterprise area. So we've developed out that strategy and 397 00:20:58,480 --> 00:21:00,000 Speaker 2: we look forward to sort of launching that as well. 398 00:21:00,040 --> 00:21:00,240 Speaker 3: Well. 399 00:21:00,680 --> 00:21:03,200 Speaker 1: And so is there anything you know You've obviously got 400 00:21:03,200 --> 00:21:06,640 Speaker 1: shareholders through the shares these platform, what's one thing you'd 401 00:21:06,720 --> 00:21:07,760 Speaker 1: like your shareholders to know? 402 00:21:08,960 --> 00:21:09,200 Speaker 3: Wow? 403 00:21:09,560 --> 00:21:11,399 Speaker 2: I think I said it at a on stage in 404 00:21:11,400 --> 00:21:15,120 Speaker 2: an ASEX conference very recently. I think we're the best 405 00:21:15,160 --> 00:21:16,680 Speaker 2: stock on the AX right now. 406 00:21:18,720 --> 00:21:20,840 Speaker 3: Do you believe in travel? Yes? Do you believe everything's 407 00:21:20,840 --> 00:21:22,080 Speaker 3: going to go online? Yes? 408 00:21:22,560 --> 00:21:24,960 Speaker 2: And I think we're training at a significant discount to 409 00:21:25,000 --> 00:21:28,520 Speaker 2: our potential. So that's one thing, And the second thing 410 00:21:28,560 --> 00:21:30,560 Speaker 2: I'd say is thank you for those who are investing 411 00:21:30,560 --> 00:21:35,000 Speaker 2: in us. We believe this is you know, this incredible 412 00:21:35,080 --> 00:21:37,520 Speaker 2: value in this business, and myself and the team look 413 00:21:37,560 --> 00:21:38,600 Speaker 2: forward to delivering it for you. 414 00:21:39,080 --> 00:21:40,879 Speaker 1: Is there anything we haven't talked about today that you 415 00:21:40,920 --> 00:21:42,560 Speaker 1: wanted to cover? 416 00:21:43,320 --> 00:21:47,120 Speaker 2: We came out and we announced our dividend policy last week, 417 00:21:47,440 --> 00:21:51,359 Speaker 2: so really pleased that will be delivering dividends from f 418 00:21:51,400 --> 00:21:53,520 Speaker 2: I twenty six, will do a special at the half, 419 00:21:54,240 --> 00:21:56,520 Speaker 2: so that's a pretty exciting. People have been after that 420 00:21:56,560 --> 00:21:59,680 Speaker 2: for a while. And we'll continue to update in terms 421 00:21:59,720 --> 00:22:02,560 Speaker 2: of the strategy is going and how we're moving forward 422 00:22:02,600 --> 00:22:05,600 Speaker 2: and our ambitions to be to capture more of the 423 00:22:05,600 --> 00:22:09,159 Speaker 2: travel wallet and to move into new customer basis like 424 00:22:09,160 --> 00:22:11,199 Speaker 2: the business one. So we look forward to updating our 425 00:22:11,240 --> 00:22:12,640 Speaker 2: shareholders on that journey. 426 00:22:12,880 --> 00:22:15,160 Speaker 1: Do you have a favorite quote or piece of business 427 00:22:15,160 --> 00:22:18,840 Speaker 1: advice that keeps you going as a leader, or that 428 00:22:18,880 --> 00:22:19,480 Speaker 1: you really like. 429 00:22:20,560 --> 00:22:22,440 Speaker 2: Yeah, I think one of them that I've always have 430 00:22:22,560 --> 00:22:24,320 Speaker 2: in the back of my mind is like, don't take 431 00:22:24,400 --> 00:22:27,560 Speaker 2: it personally. And where that comes from is a book 432 00:22:27,640 --> 00:22:31,000 Speaker 2: that a mentor gave me really early on. Now I'm 433 00:22:31,000 --> 00:22:32,679 Speaker 2: going to get the author's name right, but I think 434 00:22:32,680 --> 00:22:35,760 Speaker 2: it's Don Miguel Ruiz or something. To look it up, everybody, 435 00:22:36,280 --> 00:22:39,119 Speaker 2: And it's called the Four Agreements. It's like a bite sized, 436 00:22:39,160 --> 00:22:42,480 Speaker 2: tiny book and it's just like rules for how to live. 437 00:22:43,760 --> 00:22:46,280 Speaker 2: And the first one is don't take it personally. So 438 00:22:46,280 --> 00:22:49,000 Speaker 2: so often you everyone thinks that things are all about 439 00:22:49,040 --> 00:22:52,040 Speaker 2: them and it's not. The next one is don't make assumptions. 440 00:22:52,560 --> 00:22:54,640 Speaker 2: So so often people fall into the trap of making 441 00:22:54,640 --> 00:22:58,480 Speaker 2: assumptions or they assume negative or you know, just don't 442 00:22:58,640 --> 00:22:59,560 Speaker 2: do those assumptions. 443 00:23:00,320 --> 00:23:04,439 Speaker 3: Be impeccable with your word. How good is that for 444 00:23:04,480 --> 00:23:05,480 Speaker 3: a rule than life? 445 00:23:06,000 --> 00:23:07,960 Speaker 2: You know, so often today in a world of fake 446 00:23:08,119 --> 00:23:11,680 Speaker 2: news and mere puffery and say whatever you can, there's 447 00:23:11,720 --> 00:23:15,160 Speaker 2: no facts anymore. Being impeccable with your word, I think 448 00:23:15,320 --> 00:23:17,280 Speaker 2: is you know, an old fashioned pillar that I love 449 00:23:17,320 --> 00:23:19,520 Speaker 2: to subscribe to. And the last one is just do 450 00:23:19,640 --> 00:23:22,320 Speaker 2: your best. Sounds like your mum's saying something to you. 451 00:23:22,440 --> 00:23:24,479 Speaker 2: But I think you know, all we can hope for 452 00:23:24,600 --> 00:23:26,000 Speaker 2: is do your best. So that's a book I give 453 00:23:26,040 --> 00:23:29,200 Speaker 2: my team. So at the moment, I, you know, always 454 00:23:29,240 --> 00:23:31,919 Speaker 2: like to have you draw on those four agreements if 455 00:23:31,960 --> 00:23:35,239 Speaker 2: you will, four agreement with yourself whenever I whenever I need. 456 00:23:35,280 --> 00:23:36,800 Speaker 3: It's like a little pocket full of wisdom. 457 00:23:37,280 --> 00:23:40,640 Speaker 1: Thanks Heep for joining us today, Katrina. You are so welcome, 458 00:23:40,800 --> 00:23:42,800 Speaker 1: so good to chat a year on or almost a 459 00:23:42,880 --> 00:23:45,960 Speaker 1: year on indeed, and no shortage of things happening during 460 00:23:46,000 --> 00:23:49,159 Speaker 1: that year. No, it's all excitement and thanks everyone for 461 00:23:49,240 --> 00:23:52,520 Speaker 1: tuning in. You can what Shared Lunch on YouTube or 462 00:23:52,560 --> 00:23:55,480 Speaker 1: any of your favorite podcast apps. Leave a comment about 463 00:23:55,480 --> 00:23:57,680 Speaker 1: what you'd like to hear about next Catch you next time. 464 00:24:00,400 --> 00:24:03,920 Speaker 1: A sustrans stands