May 2026
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Largest Travel Services Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Corporate Travel Management, Flight Centre, Web Travel Group and Helloworld Travel.
 | Corporate Travel Management provides travel services for businesses and governments across the Americas, Australia and New Zealand, Europe, and Asia. The group has built scale and breadth through both organic growth and acquisitions. Corporate Travel is currently a top-five corporate travel management company globally based total transaction volumes, but it is a relative minnow in the highly fragmented USD 1 trillion global market. The group offers expertise and personalized service to corporate clients spanning various industries such as government, healthcare, mining, energy, infrastructure, and construction. Before the pandemic, more than 60% of the group’s client travel was domestic (within country) in nature. | $12 | +18% | $2B | $2B | 3.2x | 12.6x | ||
| Flight Centre Travel is one of the largest travel agencies in the world. The group generates around half of its total transaction value, or TTV, from the corporate segment, with the other half from the leisure market and ancillary travel-related businesses. In corporate travel, Flight Centre is a global Top 4 agent operating in over 100 countries, with different brands catering to various customer segments (small and midsize businesses to large enterprises). In leisure, Flight Centre operates an extensive network of shops while also runs online channels and deal with independent agents. Over half of group TTV is generated in Australia and New Zealand, 20% from Americas, just under 20% from Europe, and the rest from Asia. | $7 | -25% | $1B | $2B | 0.9x | 6.2x | ||
| Web Travel Group acts as an intermediary for hotel accommodation inventory across Europe, Asia-Pacific, the Middle East, and Africa, as well as Americas. The group operates in the business to business, or B2B, space. The B2B business, WebBeds, sits between hotels and wholesale/retail travel service providers. WebBeds is presently the world’s second-largest B2B accommodation booking provider despite only a 4% market share of the fragmented AUD 70 billion global B2B accommodation market. | $2 | -52% | $631M | $438M | 1.9x | 8.0x | ||
| Helloworld Travel Ltd is an Australian-based travel distribution company. The company has four reportable segments: Travel Operations Australia, Travel Operations New Zealand, Travel Operations Rest of World, Transport Logistics, and Warehousing. The company generates the majority of its revenue from Travel Operations Australia. The company generates revenue from Commissions, transactions, and service fees, Marketing-related activities, Freight revenue, and Other revenue. | $1 | -1% | $167M | $107M | 0.9x | 2.7x | ||
| Median | $4 | -13% | $1B | $1B | 1.4x | 7.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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