Travel Industry Ancillary Revenue Platform Plusgrade Closes USD 385m Acquisition of Points.
MANews-(C)2009-2022
Canada-based travel industry ancillary revenue platform Plusgradehas completed its acquisition of loyalty commerce platform Points.com Inc. (TSX: PTS) (NASDAQ: PCOM), the company said.
This combination creates a unique leadership position in ancillary revenue, establishing a market presence that is unmatched and unrivaled in this segment of the global travel industry.
The combined entity is expected to generate more than USD 3.5bn in new revenue opportunities in 2022 for more than 140 airline, hospitality, cruise, rail and financial services partners across 60 countries.
This figure is projected to grow as the travel industry continues to recover.
Two of the largest sources of ancillary revenue for the global travel industry consist of Frequent Flyer Programs and A la Carte Features including seating, according to "The 2021 CarTrawler Yearbook of Ancillary Revenue" by IdeaWorkscompany.
By bringing together two leaders in each of these respective spaces, the combined company creates a robust platform that delivers a meaningful impact to the bottom lines of...
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