- Confirmed purchase terms. Acquisition in 2007 for $16MM in cash
and an earn-out of up to $142MM, payable in 2011 upon Agoda reaching
undisclosed Bookings and Earnings targets in 2010.
- Strongest search engine ranking markets - China, Hong Kong, Japan, South Korea, Singapore, and Thailand. Weakest - Australia, India, and New Zealand.
- Projects Agodas gross bookings at $433mm in 2010, $606mm in 2011 and $758mm in 2012; and
- Models and aggressive scenario where $1bb in gross bookings for Agoda is possible in 2011 if online hotel penetration in APAC increases from 25% to 37.5% and Agoda;s share of the market increases from 3.5% to 6%.
Tim Hughes puts the boot into the highs and lows of the online travel business (with an Australasian/Asian bias) with some blogging about consuming and loving travel thrown in.
Monday, March 15, 2010
Agoda's 2009 Turnover / Bookings was US$244 million (according to Citigroup)
I am always on the watch for Agoda results here are the BOOT as they have been hard to find. You will have seen the stellar results for Pricline in this announcement and elsewhere, showing >50% growth in Q4 09 over 08. In the transcript from the earnings announcement I could not find any details about Agoda's contribution to the performance. Finally, via CitigroupGEO we have an estimate on Agoda's turnover and gross bookings. Here is a table with the last 6 quarters of results for Agoda estimated by Mark S. Mahaney of Citigroup (link to PDF here)
Posted by Tim Hughes at 16:29
Labels: agoda, asia, online agents
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great post and thanks for the link to the PDF, excellent APAC information in there.
I Googled their booking levels at their 07, $16MM buyout and they were reported @ $36MM to the Oct buyout so say $43MM odd for the year 07.
Then looking as the numbers in the PDF read they went near triple to $118MM for 08 then near double for 09 and Est to double again all pretty much in line with their strong traffic growth so they seem to be on a roll.
Note: In the Google results for "agoda 2007 bookings" The BOOT came in 6th on first page via Connect.PhoCusWright 17 hrs ago.
@Carl - thanks for the extra research. I have noticed that PhoCusWright Connect is ranking higher than me with my content. More proof I have to get of my arse and get on to wordpress and a hosted domain
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