# WTF - Wotif.com Holdings



## scsl (27 November 2006)

Since closing 66% above the IPO price in its debut in early June, Wotif.com's sp has continued to rise. Today's close of $4.33 means that investors who were lucky enough to get some shares in the float are up 117% - in just 6 months!

As the leading provider of online accommodation booking services in Australasia, the per annum total online accommodation sales in Australia figure is very important for Wotif – which takes a commission on the value of the accommodation booked. The calendar year 2005 value was A$789 million, with the compound annual growth rate at 42%. I think there is no reason why high growth won’t continue in this sector. The following is from their 2006 annual report:

Wotif.com believes that the online channel will continue to experience strong growth by attracting customers away from traditional sales channels. It is considered that the convenience, product range, transparency and value provided by the online channel are driving a structural change in consumer behaviour in the sector. 

Furthermore, online penetration in Australia stands at 8.5% of total accommodation turnover, compared with (separate) estimates of 22% and 28% for the United States, which suggests that Australians have been slower to embrace such online facilities. 

I think Wotif must at least maintain or improve its market dominant position (36% of the Australian accommodation online-booking market) to ensure competitors do not gain negotiating power with regards to inventory. Also, competitors have already mimicked Wotif’s superior site layout. So if Wotif is complacent, they could lose market share – which is why focus on brand recognition will be vital for the company. 

I'm interested in others' experiences and thoughts on this company. Who’s been accumulating? Is Wotif to pricey at the moment? Thoughts on organic growth, entering new markets? 

Cheers,
scsl


----------



## michael_selway (27 November 2006)

*Re: WTF - Wotif.com*



			
				scsl said:
			
		

> Since closing 66% above the IPO price in its debut in early June, Wotif.com's sp has continued to rise. Today's close of $4.33 means that investors who were lucky enough to get some shares in the float are up 117% - in just 6 months!
> 
> As the leading provider of online accommodation booking services in Australasia, the per annum total online accommodation sales in Australia figure is very important for Wotif – which takes a commission on the value of the accommodation booked. The calendar year 2005 value was A$789 million, with the compound annual growth rate at 42%. I think there is no reason why high growth won’t continue in this sector. The following is from their 2006 annual report:
> 
> ...




its not bad, high PE but good growth forecast though

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 8.1 10.7 13.9 16.8 
DPS 7.1 9.3 12.5 14.3 

EPS(c) PE Growth 
Year Ending 30-06-07 10.7 39.4 31.6% 
Year Ending 30-06-08 13.9 30.4 29.9% * 

thx

MS


----------



## Julia (27 November 2006)

*Re: WTF - Wotif.com*

Hello SCSL:

I've been watching this company.  If it didn't have such a low dividend, I'd definitely be buying.

Julia


----------



## scsl (28 November 2006)

*Re: WTF - Wotif.com*



			
				Julia said:
			
		

> Hello SCSL:
> 
> I've been watching this company.  If it didn't have such a low dividend, I'd definitely be buying.
> 
> Julia



Julia, I understand that a low dividend may put investors off buying its shares, but isn't this expected of a company that recently raised capital by way of an IPO? Ie what I'm trying to say is that wouldn't it make sense for Wotif to retain as much of its earnings as possible to finance any expansion plans they might have (hence raising capital in the first place)?

Also, (assuming profit growth and increase in sp) wouldn't the sp appreciation of high growth companies like Wotif and Seek more than compensate for the low dividend? For example, I have held HFA since its float and although the recent dividend of 1.5 cents was nothing to smile about, I've been more than satisfied with how it is performing. I'd rather HFA focus and spend their capital on growth rather than trying to please its shareholders with 'nice' dividends.


----------



## mit (28 November 2006)

*Re: WTF - Wotif.com*

I bought in on a technical basis. Also I noted that there were far more bids than offers in the order queue, which I think is a very good sign. As the price as risen there are now more offers as there are people taking profits.

Michael


----------



## michael_selway (28 November 2006)

*Re: WTF - Wotif.com*



			
				Julia said:
			
		

> Hello SCSL:
> 
> I've been watching this company.  If it didn't have such a low dividend, I'd definitely be buying.
> 
> Julia




Hi Julia

It has a low dividend because it has a high PE, because it actually has a high payout ratio.

thx

MS


----------



## LifeisShort (28 November 2006)

*Re: WTF - Wotif.com*

Its not a small company. Market cap of 867 million. Is that justifiable for a interenet company? Probably, maybe.....A billion dollar market cap is around the corner which makes you think......how much growth is WTF going to achieve over the years......when you think about it WTF does accomodation/holiday bookings over the net.....yes its diversified internationally and it has a point of difference


----------



## Julia (28 November 2006)

*Re: WTF - Wotif.com*

I don't much care about the reasons for a low dividend.  There are other companies out there which are doing as well as Wotif but which pay a good dividend.  I live off my dividend income so I'm going to view this aspect as more important than others may.

Julia


----------



## scsl (28 November 2006)

*Re: WTF - Wotif.com*



			
				michael_selway said:
			
		

> It has a low dividend because it has a high PE, because it actually has a high payout ratio.



MS, WTF's high P/E ratio and thus 'big' sp may mean a low dividend yield but I'm not sure what you mean in the second bit. From my understanding, doesn't a high dividend payout ratio mean a higher dividend amount, relative to the dividend received under a low payout ratio?


----------



## Julia (28 November 2006)

*Re: WTF - Wotif.com*



			
				scsl said:
			
		

> MS, WTF's high P/E ratio and thus 'big' sp may mean a low dividend yield but I'm not sure what you mean in the second bit. From my understanding, doesn't a high dividend payout ratio mean a higher dividend amount, relative to the dividend received under a low payout ratio?



That's what I would have thought also.

Julia


----------



## stoxclimber (29 November 2006)

*Re: WTF - Wotif.com*

He was giving a round about way of saying that they pay out a large amount of earnings - its just that its a low % div yield because the PE is so high.


And these comments about dividends e.g. Julia are irrational. You live off your dividends? There's a really easy way to get a dividend - sell shares! And you get the money in 3 days...

Don't thank me, thank finance theory!

If you have some issue about seperation of your trading capital and your income, I point out that it is irrational.


----------



## michael_selway (29 November 2006)

*Re: WTF - Wotif.com*



			
				stoxclimber said:
			
		

> He was giving a round about way of saying that they pay out a large amount of earnings - its just that its a low % div yield because the PE is so high.




Yep, they have a high dividend payout ratio

However the current "dividend yield" is low because the current SP is very high (relative to earnings i.e. PE ratio)

thx

MS


----------



## scsl (29 November 2006)

*Re: WTF - Wotif.com*

Up 5.2% today! It's now risen more than 10% in 9 trading days.

The market depth on Commsec shows a serious lack of sellers. Will this continue?

WTF has really surprised me... I thought that after touching $4.40 intraday on Monday, that investors would begin to take profits and take the sp down to about $4.00.


----------



## michael_selway (1 December 2006)

*Re: WTF - Wotif.com*



			
				scsl said:
			
		

> Up 5.2% today! It's now risen more than 10% in 9 trading days.
> 
> The market depth on Commsec shows a serious lack of sellers. Will this continue?
> 
> WTF has really surprised me... I thought that after touching $4.40 intraday on Monday, that investors would begin to take profits and take the sp down to about $4.00.




thing is PE wise its nearly 50 atm, why is it so high?

Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 8.1 10.7 13.9 16.8 
DPS 7.1 9.3 12.5 14.3 

thx

MS


----------



## scsl (1 December 2006)

*Re: WTF - Wotif.com*



			
				michael_selway said:
			
		

> thing is PE wise its nearly 50 atm, why is it so high?
> 
> Earnings and Dividends Forecast (cents per share)
> 2006 2007 2008 2009
> ...



Fast growing companies trade at a premium to the overall market in terms of P/E ratio. They 'deserve' to trade at higher multiples as earnings growth is expected to be relatively higher. 

WTF's P/E of about 49 is not outrageous when compared to similar companies such as realestate.com.au (P/E 48), Seek (40), Webjet (41). 

Up another 3% today. Definately overbought.


----------



## LifeisShort (1 December 2006)

*Re: WTF - Wotif.com*

Very nice announcement today. Reassures everyone of the growth potential for the company. Keep it coming


----------



## Duckman#72 (2 December 2006)

*Re: WTF - Wotif.com*

Just makes you wonder about the Brokers.

I was lucky enought to grab a parcel in the inital placement and had been considering selling about 2 months ago after Ords put a sell recommendation on them(when they had reached $4). 

Great week and a half for them.

Lucky I learned my lesson 18 months ago. My broker from Ords told me not to purchase a particular stock for my superfund - on the basis that the stock was "too cyclical" for a superfund.

The stock?.................Zfx. And the price? ................$2.30  

Duckman


----------



## scsl (15 December 2006)

*Re: WTF - Wotif.com*

Has settled to trade between $4.25 and $4.31 this week, with the price everyday finishing at or near the high of the day (except Thursday). The candle graph below shows that the upward trend ever since the IPO is still intact.


----------



## Julia (15 December 2006)

*Re: WTF - Wotif.com*



			
				stoxclimber said:
			
		

> He was giving a round about way of saying that they pay out a large amount of earnings - its just that its a low % div yield because the PE is so high.
> 
> 
> And these comments about dividends e.g. Julia are irrational. You live off your dividends? There's a really easy way to get a dividend - sell shares! And you get the money in 3 days...
> ...




I've just caught up with this thread.

Stoxclimber, I really don't feel the need to justify how I manage my finances to you.  I'm perfectly aware of the options, thanks.  How I choose to derive my income is frankly none of your business.

Julia


----------



## scsl (9 January 2007)

*Re: WTF - Wotif.com*

After spending a month in a tight trading range of $4.22-4.30, WTF has suprisingly broken out to the downside - but then again, nothing should be seen as safe in a market pullback. It fell 19 cents (4.5%) on pretty light volume - I've always been curious, a break upwards on light volume may turn out to be a false break-out, but can someone explain what it possibly means when a stock is 'beaten down' on light volume such as WTF? And what can we expect in the short term?

Buying opportunity? IMO, definately. It's heading towards oversold territory, with the the RSI at 37.6. The P/E's still high but I'd say it's worth buying/accumulating at these levels for the reasons that I've previously posted.


----------



## scsl (9 January 2007)

*Re: WTF - Wotif.com*

Has rebounded from yesterday's close with ease, up 3.4%. Like yesterday, it's happened on low volume.


----------



## silence (23 January 2007)

*Re: WTF - Wotif.com*

Ok, in my non-financial adviser opinion, this could be ripe for a trade of some sort soon, probably a short sell. Might only be good for a 5% move though.

This is delayed data, it is just under the resistance line today.

Any other opinions?


----------



## scsl (10 February 2007)

*Re: WTF - Wotif.com*

WTF jumped 22 cents (5.2%) to $4.49 today, and in doing so, breaking out from below the $4.30 mark which has been an unpenetrable barrier for two months. This two month consolidation between $4 and $4.30 shows that there was a lot of support for the stock, with the stock being bought up each time it went below $4.10. For non-holders of Wotif, have a look at the chart and you will see that today's sp increase is _very_ significant, perhaps paving the way for a close of above the previous high close of $4.59.

I've been accumulating since December, so I'll be very happy going into the weekend!


----------



## Buffettology (29 April 2007)

*Re: WTF - Wotif.com*

No post on this thread since its half yearly results, of which SMASHED estimates.  WTF is still only at 4.29, with great growth opportunity, incredible results of which just seem to be steamrolling ahead, I think I will accumulate tomorrow.


----------



## heads up (30 April 2007)

*Re: WTF - Wotif.com*

The stock trades on low volumes, that does not put you off?
Is it heavily played by the day traders?


----------



## Buffettology (1 May 2007)

*Re: WTF - Wotif.com*



heads up said:


> The stock trades on low volumes, that does not put you off?
> Is it heavily played by the day traders?




Volume does not put me off.  I trade for long-term growth opportunities and investments, so there is no reason I would want to sell a large quantity over a short period of time.


----------



## Buffettology (3 May 2007)

*Re: WTF - Wotif.com*



Buffettology said:


> No post on this thread since its half yearly results, of which SMASHED estimates.  WTF is still only at 4.29, with great growth opportunity, incredible results of which just seem to be steamrolling ahead, I think I will accumulate tomorrow.




Given that its at 4.64 4 days later, I wish I did accumulate. 

But JST made me a handy profit anyways.

Moved from 4.26 to 4.50 in about 3 days.


----------



## Duckman#72 (14 May 2007)

*Re: WTF - Wotif.com*

Wotif are now over the $5.00 mark after some nice upward SP movement in the last week.

Anyone have any thoughts on the future of this share? All information I read suggests that it is meeting key measures it has set for itself and all augers well for newxt 12 months. But it might have the stigma of not being a "real bricks and mortar"' business. 

As a shareholder from original listing - I can't complain about the performance.

Cheers
Duckman


----------



## Buffettology (14 May 2007)

*Re: WTF - Wotif.com*



Duckman#72 said:


> Wotif are now over the $5.00 mark after some nice upward SP movement in the last week.
> 
> Anyone have any thoughts on the future of this share? All information I read suggests that it is meeting key measures it has set for itself and all augers well for newxt 12 months. But it might have the stigma of not being a "real bricks and mortar"' business.
> 
> ...




Yeah, this is a very hard one to predict.

The price is going bananas, but I am also sceptical, as it is not "bricks and mortar" as you say.

Though forecasts are VERY good for its growth, ROE, and EPS.  WAY above original expectation.   This would probably explain the share price movement as of late.


----------



## Duckman#72 (17 July 2007)

*Re: WTF - Wotif.com*

This share has been steadily moving upwards over the past couple of weeks. It is now hanging around the $6.00 mark - but yet to close over (from memory) 

Duckman


----------



## kryochek (23 August 2007)

*WTF - Wotif.com*

Any thoughts on Wotif current price and movements? I am expecting a strong profit report this Monday my guess would be 25-28M and have bought in last monday


----------



## Yeti (11 February 2008)

*Re: WTF - Wotif.com*

This post copied from "Internet stocks to out-perform in 08" thread:

WTF Chart looks like double top (mid July and end October) Confirmed when share price went and stayed below $4.40-ish, possible target $2.70-ish  Hope I've got this completely wrong, just an amateur chartist.


----------



## Sean K (12 February 2008)

*Re: WTF - Wotif.com*



Buffettology said:


> $2.70
> 
> Can one of the techies (Kennas) please confirm!?
> 
> Man, thats the problem with charting, there are so many techniques it gets confusing which are the basic ones to use just to check the basic technicals, as far as fundamentalists are concerned.



'Technically' it's a possibility by definition, but seems bloody unlikely. That's quite a dip in the middle there. The trough is so deep and sharp it makes me wonder how valid the formation is. It's just something to consider in the bigger picture perhaps. To me, it would mean wait for entry until it's moved off this course. Alternatively, if it breaks support the trading tactic would be to short it, if you could. All just probabilities of course. Read more about DT's here.


----------



## Buffettology (12 February 2008)

*Re: WTF - Wotif.com*



kennas said:


> 'Technically' it's a possibility by definition, but seems bloody unlikely. That's quite a dip in the middle there. The trough is so deep and sharp it makes me wonder how valid the formation is. It's just something to consider in the bigger picture perhaps. To me, it would mean wait for entry until it's moved off this course. Alternatively, if it breaks support the trading tactic would be to short it, if you could. All just probabilities of course. Read more about DT's here.




Thanks heaps for that Kennas, especially the link!

I understand the double top reversal now!  Good to learn these technicals just to add it to my fundamental analysis.  Best of both worlds I beleive.  

However, on the chart, it finds another support lower than that $4.40ish mark around $4.20ish.  Does this support count for nothing after a double top reversal?  

Gives me something else to think about at least.


----------



## Buffettology (12 February 2008)

*Re: WTF - Wotif.com*

Oh and this part from the website...........

"Perhaps the most important aspect of a double top is to avoid jumping the gun. Wait for support to be broken in a convincing manner, and usually with an expansion of volume", volume actually declined after support was broken..........


----------



## The_Snowman (7 August 2008)

*Re: WTF - Wotif.com*

Just bump this stock discussion up - anybody see some patterns on this chart? 
Thanks, John


----------



## The_Snowman (7 August 2008)

*Re: WTF - Wotif.com*

Here is another picture........worth a thousand words?  

..............................................


----------



## jinx888 (17 June 2009)

*Re: WTF - Wotif.com*

Profit Upgrade not less than $42 million, does anybody follow this stock,  i would of thought this stock was more popular. With only 15 tradings days left before FY09 you would assume they are already over the 42 million mark (EPS 20.5). Wondering what the estimate would be 45NPAT?. I do hold this stock and was wondering what other peoples views are.


----------



## russia2 (20 April 2010)

*Re: WTF - Wotif.com*

WTF is WTF doing today share price down from 12% and they increase profit by 28%. Wow looks like another good buying opportunity guys.


----------



## skc (26 August 2010)

*Re: WTF - Wotif.com*



russia2 said:


> WTF is WTF doing today share price down from 12% and they increase profit by 28%. Wow looks like another good buying opportunity guys.




WTF all round in the last 2 sessions. Today looks like capitulation? Big volume and finished well off the low. $4 was resistance / support from some time back.

Possibly a short term bounce back to $5?




On the fundamentals, yield is now a respectable 4.9%. EPS 25.34c which means a PE of 17.4. Earning growth historically at 20% p.a. so PEG <1 which seems somewhat attractive. Seems "well priced" at the moment IMO barring any major external shocks.


----------



## JTLP (26 August 2010)

*Re: WTF - Wotif.com*



skc said:


> WTF all round in the last 2 sessions. Today looks like capitulation? Big volume and finished well off the low. $4 was resistance / support from some time back.
> 
> Possibly a short term bounce back to $5?
> 
> ...




Article in the Fin Review a while back regarding WTF needing to expand. The domestic market is not growing as much as anticipated and WTF lack of resources in the international area (covered by expedia) apparently will hurt due to cheaper international travel back in vogue (as a result of shaky Eco conditions = cheaper flights).

Hope that helps


----------



## So_Cynical (27 August 2010)

*Re: WTF - Wotif.com*

I've been watching with some amazement  WTF yet another bullet i have dodged, don't know how i keep doing it, i had WTF short-listed  just a couple of weeks ago when i was looking to add a stock to my portfolio...i thought $5 would be support.

I thought the annual report was pretty dam impressive, lotsa good numbers and lots of SP potential i would think....WTF is a great little business, its just that the internet is so virtual, and i think its hard to have over whelming confidence in something that's so disposable.

There are very few barriers to entry, the margins are low, its all very cut throat and Gen Y are so fickle.


----------



## Knobby22 (27 August 2010)

*Re: WTF - Wotif.com*

I think it is a good company and have been eyeing it like you however it still appears expensive.

I would want the yield to be around 7% before I got interested. So maybe around the $3-3.50 mark.

As you say too many risks in this company to pay a premium.


----------



## craigj (28 August 2010)

*Re: WTF - Wotif.com*

its a great business but they were trading on a pe of around 27 for a company lacking exponential growth and having no economic moat

now the share price has dropped the pe ratio looks a lot more attractive
stop losses would have caused the share price to keep droping

but it will bounce as fund managers love these kind of stocks which require little equity

wotif also only has 58% brand recognition in australia so as that improves business should increase


----------



## Trader Paul (7 September 2010)

*Re: WTF - Wotif.com*



Hi folks,

WTF ... will be alert for some positive news and a lift in price
over the next couple of days, as a positive time cycle comes 
into play ... 

have a great day

   paul



=====


----------



## matty77 (17 February 2011)

Anyone got any current analysis on this stock?

Good time to buy.... floods are over, no more cyclones or fires  (maybe)


----------



## VSntchr (17 February 2011)

matty77 said:


> Anyone got any current analysis on this stock?
> 
> Good time to buy.... floods are over, no more cyclones or fires  (maybe)




stock still isnt that cheap in my opinion. The aussie dollar is another factor to consider...alot of people will be avoiding holidaying in Aus due to their currency not stretching very far...of course you could see these things as short term and as such presenting you with a nice chance to buy...but for me I would like to make an investment in this stock with the first digit being a 3 
just some things to consider..


----------



## ROE (17 February 2011)

VSntchr said:


> stock still isnt that cheap in my opinion. The aussie dollar is another factor to consider...alot of people will be avoiding holidaying in Aus due to their currency not stretching very far...of course you could see these things as short term and as such presenting you with a nice chance to buy...but for me I would like to make an investment in this stock with the first digit being a 3
> just some things to consider..




I Agree, price is the only thing that stop me from getting it

its business model is better than Webjet and more of Centrebet like

I already got Centrebet


----------



## matty77 (23 February 2011)

spewing, was holding off at $4.38... now up 8% today..


----------



## matty77 (25 August 2011)

still on my watchlist, anyone have any analysis at the moment, FY reports just in...


----------



## skc (25 August 2011)

matty77 said:


> still on my watchlist, anyone have any analysis at the moment, FY reports just in...




24c EPS so @ $4 WTF is trading at 16.7x PE. Pretty expensive for a company that didn't grow profits this year. Question is where is the growth going to come from to justify the high PE. If there isn't growth the market will continue to de-rate the stock probably down to PE 10 or 11. FLT and WEB are both good comparables and they trade at ~12-13x PE. That's the possible downside target in the short term imo.

On a fundamental business level it's hard to see WTF having a great deal of "moat" around their business. Their rooms are not always the cheapest and you have global players like Expedia and others fighting on their turf...


----------



## McLovin (25 August 2011)

skc said:


> 24c EPS so @ $4 WTF is trading at 16.7x PE. Pretty expensive for a company that didn't grow profits this year. Question is where is the growth going to come from to justify the high PE. If there isn't growth the market will continue to de-rate the stock probably down to PE 10 or 11. FLT and WEB are both good comparables and they trade at ~12-13x PE. That's the possible downside target in the short term imo.
> 
> On a fundamental business level it's hard to see WTF having a great deal of "moat" around their business. Their rooms are not always the cheapest and you have global players like Expedia and others fighting on their turf...




I agree about the pricing, they have specials which can be good value but for general booking I never use them (and I travel a fair bit). I can't see any moat either, the high RoE is a function of their business model not the business itself. Like a fund manager.


----------



## skc (25 August 2011)

McLovin said:


> I agree about the pricing, they have specials which can be good value but for general booking I never use them (and I travel a fair bit). I can't see any moat either, the *high RoE is a function of their business model not the business itself*. Like a fund manager.




Not sure how to interpret that... but with the shareprice at 10x book value the high ROE exists on the balance sheet only and not for the investor's dollar.


----------



## McLovin (25 August 2011)

skc said:


> Not sure how to interpret that... but with the shareprice at 10x book value the high ROE exists on the balance sheet only and not for the investor's dollar.




I mean the only reason the company has a high RoE is because any web business is usually people power intensive, and not much in the way of real assets on the BS. Often a high RoE can be an indicator of a moat, but not in this case.


----------



## skc (25 August 2011)

McLovin said:


> I mean the only reason the company has a high RoE is because any web business is usually people power intensive, and not much in the way of real assets on the BS. Often a high RoE can be an indicator of a moat, but not in this case.




This makes sense. I was just nitpicking your choice of words (business model vs the business itself).


----------



## McLovin (25 August 2011)

skc said:


> This makes sense. I was just nitpicking your choice of words (business model vs the business itself).




All good.


----------



## Bazmate (2 May 2012)

WTF is going on here.... share price down ~10% in two days after announcing a rise in profits of ~10% ??  Now I'm confused... and unhappy.


----------



## Ves (2 May 2012)

Bazmate said:


> WTF is going on here.... share price down ~10% in two days after announcing a rise in profits of ~10% ??  Now I'm confused... and unhappy.



 Earnings growth does not always equal share price growth.  You need to remember that if the market expects higher earnings growth than is reported, and all other things are equal, the share price is going to head south to factor this in.


----------



## McLovin (2 May 2012)

Bazmate said:


> WTF is going on here.... share price down ~10% in two days after announcing a rise in profits of ~10% ??  Now I'm confused... and unhappy.




16x earnings is quite full for a company that's expecting FY growth of between 9-13%. It's possible WTF best days of growth are behind it and PE is compressing; refer JBH.


----------



## pavilion103 (1 June 2012)

This is one I'll certainly be keeping track of in the short term. 

It has bottomed on much higher volume and then found a lower high on what looks like a bit of a shakeout. 

The lowest volume today in a little while. I might even consider entry above $4.15. Have to look at it a bit more over the weekend. 

Are others bullish or bearish on this one?


----------



## pavilion103 (21 June 2012)

Still tracking this one. Formed a higher low and volume falling still. Will be interesting to see if it breaks out.


----------



## Muschu (23 August 2012)

Record result and SP falls?  Results not good enough?


----------



## skc (19 September 2012)

WTF's CEO Robbie Cooke resigned to take up the CEO of Tatts.

Outgoing CEO of Tatts is Dick McIlwain, who happens to be the Chairman of WTF.

WTF all round!


----------



## leyy (19 September 2012)

Wotif has a good business model and has the largest market share of the TPI (third party internet) bookings in Australia. however bookings overall are declining

Consumers / travellers are getting smarter and smarter on how to book their accommodation

Most user's will use Wotif to compare prices and then book direct at the hotel website for several reasons:

1) save on booking fees

2) most of the time you can negotiate direct with the hotel and get a discount, as all hotels must pay circa 10% commission to wotif, so the hotel would actually rather take the booking direct with the consumer and provide a smaller discount

3) consumers can get points,miles paying direct to the hotel's loyalty program


also, the CEO Robbie Cooke got very greedy with their suppliers of hotel room's and lost their largest client (large national hotel chain) a while back as they wanted control over the inventory of rooms (including penthouses and premium suites)


cheers


----------



## skc (20 September 2012)

leyy said:


> Wotif has a good business model and has the largest market share of the TPI (third party internet) bookings in Australia. however bookings overall are declining
> 
> Consumers / travellers are getting smarter and smarter on how to book their accommodation
> 
> Most user's will use Wotif to compare prices and then book direct at the hotel website for several reasons:




Totally agree and same with WebJet. They both have first mover advantages in the early days and developed good website interfaces etc. But it's so easy to just go around them and book direct with the hotel / airline, sometimes cheaper...

WEB share price and profits however are also gravity-defying.


----------



## Bibimbap (22 October 2012)

Take over target by WEB?????
Share price moved sharply at the end of the session.


----------



## SilverRanger (23 October 2012)

The sp is really going WTF today! Anyone knows what the smoke is about?


----------



## notting (23 October 2012)

I heard something about them increasing their margins!  Thrilling.
It was a bit undervalued and down due to loss of founding CEO.


----------



## catfish (23 October 2012)

SilverRanger said:


> The sp is really going WTF today! Anyone knows what the smoke is about?




Is is possible that the price movement is in reaction to an article on the eureka report regarding speculation on a takeover by webjet?


----------



## SilverRanger (23 October 2012)

catfish said:


> Is is possible that the price movement is in reaction to an article on the eureka report regarding speculation on a takeover by webjet?




Is that for real? FLT would have been more believable I think....

WTF:
market cap - $891 mil
revenue (2012) - $145 mil
profit (2012) - $58 mil

WEB:
market cap - $316 mil
revenue (2012) - $59 mil
profit (2012) - $14 mil


----------



## ROE (23 October 2012)

catfish said:


> Is is possible that the price movement is in reaction to an article on the eureka report regarding speculation on a takeover by webjet?




Nothing on AFR if there is anything like this AFR
Would have the scoop anything else I don't think credible

More like shorter pull out and covered their position
That is muh more plausible.. 1bn worth of short position got pull
Since last week WTF Carsales all heavily shorted


----------



## Trembling Hand (23 October 2012)

ROE said:


> More like shorter pull out and covered their position
> That is muh more plausible.. 1bn worth of short position got pull
> Since last week WTF Carsales all heavily shorted




Not really as 80% of it has been covered mostly over the first two weeks of October. Most of the shorts have gone.


----------



## skc (23 October 2012)

SilverRanger said:


> The sp is really going WTF today! Anyone knows what the smoke is about?




In the AGM they said trading is going well and they will push through 2x 1% increase in commission.

The share price has been pushed down a fair bit since their profit report as the market seem to price them ex-growth. This development seem to swing the gauge back the other direction.

There is a big difference between PE multiple of growth (e.g. 22x like CRZ) and ex-growth (probably 11-12x), so I'd expect WTF to move towards the middle ground and with some good tradable ranges until the next update / result.


----------



## pavilion103 (10 December 2012)

Anyone tracking this one?

I got in at $4.95. It seems to have consolidated the last few trading days. 

The gap up on lower volume looked quite strong as it broke through the high volume bar.


----------



## pavilion103 (10 December 2012)

Here is the chart.


----------



## Country Lad (12 December 2012)

pavilion103 said:


> Anyone tracking this one?




Yes in at $5 when it broke.  Seems to be losin a bit of momentum.

Cheers
Country Lad


----------



## pavilion103 (12 December 2012)

I'm looking to add more tomorrow.


----------



## pavilion103 (13 December 2012)

A good day today. I bought more at $5.15


----------



## pavilion103 (2 January 2013)

Continues to make good progress. Back up over $5.30 today.


----------



## systematic (2 January 2013)

pavilion103 said:


> Continues to make good progress. Back up over $5.30 today.




Breaking it into new (positive) momentum...


----------



## pavilion103 (3 January 2013)

Big day this morning. Into the $5.50s. Good profit on the table. Will watch closely near resistance.


----------



## pavilion103 (4 January 2013)

All yesterday's gains gone. 

Sold half my stock at $5.50 this morning.


----------



## Country Lad (5 January 2013)

Needs to break through $5.60 for the next leg up.

Cheers
Country Lad


----------



## pavilion103 (7 January 2013)

Country Lad said:


> Needs to break through $5.60 for the next leg up.
> 
> Cheers
> Country Lad




Yeh. I'm all out now. Back on watchlist


----------



## pavilion103 (17 January 2013)

Still moving. Hit $5.70 this morning.


----------



## Country Lad (22 January 2013)

I will probably be out shortly, it has lost momentum and there could be resistance at this level.  Plenty of others breaking out at the moment.

Cheers
Country Lad


----------



## barnso (27 February 2013)

Country Lad said:


> I will probably be out shortly, it has lost momentum and there could be resistance at this level.  Plenty of others breaking out at the moment.
> 
> Cheers
> Country Lad




Did you get out before the dip following today's results? Currently at 5.36


----------



## Country Lad (27 February 2013)

barnso said:


> Did you get out before the dip following today's results? Currently at 5.36




Yes, sold 31 Jan when both OBV and Siroc turned down.

Interestingly, I was watching it to buy if it broke from the pennant. Today the pattern failed and it goes into the bin. 

Cheers
Country Lad


----------



## McLovin (28 February 2013)

The thing to watch closely here, IMO, is the amount of online trade FLT is picking up while WTF sits still.

flightcentre.com.au TTV up 23%

Wotif Total TTV of $594.9m (H1 FY12: $595.6m)

It looks as though they are leaking customers to FLT.

ETA: flt.com.au is much smaller than WTF.


----------



## skc (18 December 2013)

Big profit downgrade today. H1 profit ~$20m, no guidance for full year. Costs are going up due to competition.

One can't help but feel that the business model may be broken. Anyone can use WTF to check out various hotels and use it purely as a comparison service, then go book directly with the hotel and circumvent the various booking fees etc. 

This is certainly how many have been using Webjet. I read something the other day that basically shows that number of unique visitors have been rising, while TTV have been falling.

Back to WTF, even if you annualise the figure to a NPAT of $40m, that's 18-19c EPS. So at currentl price of ~$3 it's still trading at 15x PE. IMO that's a pretty full multiple for an ex-growth stock with cloudy outlook...


----------



## VSntchr (18 December 2013)

skc said:


> Big profit downgrade today. H1 profit ~$20m, no guidance for full year. Costs are going up due to competition.
> 
> One can't help but feel that the business model may be broken. Anyone can use WTF to check out various hotels and use it purely as a comparison service, then go book directly with the hotel and circumvent the various booking fees etc.
> 
> ...




This has been an accident waiting to happen for ~2 years IMO. 
When I went to Europe and Canada last year I used booking.com. They saw the writing on the wall long before WTF and created a site with a massive world-wide network...with prices that are as low as going direct to the hotel, no added fees and an excellent review system. 
The WTF is not nearly as user friendly, and having used it in the past...will never go back now that I have seen how good booking.com is.

Bit of a shame really, has been a great story of a successful Brisbane based startup....


----------



## skc (18 December 2013)

VSntchr said:


> Bit of a shame really, has been a great story of a successful Brisbane based startup....




Yes. I have met the founders whilst at Uni and they were definitely a great story back in 2006, where they had a good business model, user friendly site (for the time) and just caught the rising migration to online booking. 

Perhaps they stood still for too long and just couldn't quite adapt quickly enough to the changing competitive landscape.

Speaking of 2006... that's exactly where their share price sits...


----------



## ROE (18 December 2013)

skc said:


> Yes. I have met the founders whilst at Uni and they were definitely a great story back in 2006, where they had a good business model, user friendly site (for the time) and just caught the rising migration to online booking.
> 
> Perhaps they stood still for too long and just couldn't quite adapt quickly enough to the changing competitive landscape.
> 
> Speaking of 2006... that's exactly where their share price sits...




Increase their booking fee put me off and I think a lot of people too, increase in hotel commission will probably drive 
away some of their provider as well..

They are not a monopoly in this competitive land scape but they act like one.... The good day for them are over and people has found other cheaper booking place...more down grade to come as they jack up their prices and drive customers  and provider away...


----------



## Valued (19 December 2013)

I am keeping an eye on this one. I was hoping for it to gain some up trend momentum after the low kind of like FGE and CDA. It didn't happen though. People are more bearish on this one. They are likely correct though. I have not done a valuation on the company but just eye balling the financial information, it does not look cheap. I am still keeping an eye on this.


----------



## mcgrath111 (23 January 2014)

Thought's on WTF's share price atm. It seems quite low and that the market has over reacted to its lower than expected results. 

Seems like it's at a value price to buy.


----------



## Ves (23 January 2014)

mcgrath111 said:


> Thought's on WTF's share price atm. It seems quite low and that the market has over reacted to its lower than expected results.
> 
> Seems like it's at a value price to buy.



What valuation method are you using that tells that it is cheap?


----------



## So_Cynical (23 January 2014)

mcgrath111 said:


> Thought's on WTF's share price atm. It seems quite low and that the market has over reacted to its lower than expected results.
> 
> Seems like it's at a value price to buy.




Yep im watching, seems to have an element of 'over sold' in the share price, Webjet bounced a few weeks ago...one would think that WTF will bounce also at some point.


----------



## Valued (23 January 2014)

There is no reason why this can't continue dropping. The only way to determine if something is oversold is saying in disbelief "well it can't go any lower" or using an indicator. The former isn't very reliable and often wrong and the latter just presents price action in a different way and really is the same thing "oh we think it can't go any lower, since there was so much selling!". This isn't the case though. It definitely can go lower. There are certainly no bullish technical signals right now anyway.


----------



## So_Cynical (24 January 2014)

Valued said:


> There is no reason why this can't continue dropping. The only way to determine if something is oversold is saying in disbelief "well it can't go any lower" or using an indicator.




Over sold can also be an experienced judgement call, many have expressed their disbelief on this forum re events in many stocks over many years and many have been wrong.



Valued said:


> It definitely can go lower. There are certainly no bullish technical signals right now anyway.




Agreed, the bottom is pretty much never indicated by anything...experience has taught be that there is money to be made buying well before any buy signals kick in.

I ask myself simple questions.


 Is this a business that i want to own ?
 What price you i want to pay?
 Can i make money buying XYZ now?


----------



## McLovin (24 January 2014)

I travel a fair bit, for business and leisure and I have to say I have never, ever used WTF to make a booking (limit coverage and limited choices within their coverage area + usually more expensive than other websites) and I've used Webjet (they must have the clunkiest booking engine on the interwebz) once. The way I see it, WTF had a niche business in that most of the big international players largely ignored Australia, and places like the Bermagui Motor Inn & Resort couldn't get exposure but those days are gone and the idea of having a limited forward calendar is so out of date it's not funny. No one is falling for those last minute deal websites.

With the proliferation of aggregation sites like Trivago it seems like these sort of sites are going to end up being commodity type businesses. There's some really good hotel websites but not in the segment WTF is operating in. Something like Tablet is a good example. They actually research the places they list on their website and it's not every single hotel in a city but a pretty tight list of boutique, smallish hotels.


----------



## mcgrath111 (24 January 2014)

Agreed greater competition, will really show whether wotif can compete or not and will seperate the boys from men.


----------



## So_Cynical (24 January 2014)

McLovin said:


> I travel a fair bit, for business and leisure and I have to say I have never, ever used WTF to make a booking




Its funny how personal experience comes into things, i have booked all my flights (maybe 12? lost count) via WTF since 2006 except for the 4 Jetstar/Qantas flights, have always found WTF (travel.com.au) to be the cheapest online option and have been super impressed at the functionality of their site and the simplicity and value of the whole process.

I think its only a matter of time before the online travel industry gets into some serious consolidation...growth by acquisition will be the way forward, the industry while operating with thin margins is rock solid and not about to be replaced by anything else.


----------



## matty77 (24 January 2014)

I always used WTF for business travel bookings for Australia trvel, I just found it the easiest website to use, and their prices were always pretty spot on most of the time. Plus I never had an issue with any bookings, I was on average traveling about 25 times per year interstate for the last 4 years so used them quiet often.

Traveling overseas I also used them as well for holidays (used a travel agent for business overseas!), they don't quiet have the same variety that some other sites have so I also use Expedia. WTF are also a little more pricey then other websites I find for overseas hotels, you pay an extra $10-$20 / night. However I am happy to pay the extra knowing my booking is my booking and its not going to "disappear" like some bookings do on other websites.

I've never booked a flight through them, being gold on Virgin I just fly with them and its a piece of piss travel wise! 

I looked at them awhile ago and decided not to buy, I just think its too easy now to start some website and just copy what they are doing and the market for "hotel" websites seems to be lots around at the moment. The more their are the more each suffers as they share the sales, and it also pushes margins down.

Another factor is how WTF is perceived overseas, I know in NZ its used a fair bit but not sure about other places, I find it hard to see it as a proper international service provider for some reason even though it is.


----------



## So_Cynical (24 January 2014)

matty77 said:


> I just think its too easy now to start some website and just copy what they are doing and the market for "hotel" websites seems to be lots around at the moment.




Agree that any idiot with a couple of 100K can launch a web site to do anything, however WTF and the others have an online presence, repeat business and substantial cash flows...The established players are in a position to simply buy anyone else that comes along and gains market share.

And that's why i think they are a good bet, any new players are just after a quick online buck and a buy out is a great way to get that buck...3 or 4 big players will emerge, just a matter of picking the right stock.


----------



## So_Cynical (11 March 2014)

So_Cynical said:


> (24th-January-2014) Agree that any idiot with a couple of 100K can launch a web site to do anything, however WTF and the others have an online presence, repeat business and substantial cash flows...The established players are in a position to simply buy anyone else that comes along and gains market share.
> 
> And that's why i think they are a good bet, any new players are just after a quick online buck and a buy out is a great way to get that buck...*3 or 4 big players will emerge, just a matter of picking the right stock.*




I have hitched my wagon to WTF, in with the superfund at $2.39 thinking the break below $2.40 and the double bottom is a good enough reason to move today..positioning myself for the consolidations to come.
~


----------



## pinkboy (19 March 2014)

So_Cynical said:


> I have hitched my wagon to WTF, in with the superfund at $2.39 thinking the break below $2.40 and the double bottom is a good enough reason to move today..positioning myself for the consolidations to come.
> ~




Looks like a good payoff for you today, up 15%+ in the first 2hrs!  How long until ASX put the brakes on?

I was in @ $2.62 a couple weeks ago, only to see it fall, but today it has bounced nicely 

pinkboy


----------



## skc (19 March 2014)

Not sure WTF is going on here. The only thing I've read is that there was a large (3.5% stake) buy order this morning crossed at $2.40. And it had kept running since then, probably helped by short covering.

It's right on resistance now @ ~$2.80. 

There's a short trade to be taken now, but I am too concerned that it will go into a halt the moment I trade it...


----------



## VSntchr (19 March 2014)

skc said:


> Not sure WTF is going on here. The only thing I've read is that there was a large (3.5% stake) buy order this morning crossed at $2.40. And it had kept running since then, probably helped by short covering.
> 
> It's right on resistance now @ ~$2.80.
> 
> There's a short trade to be taken now, but I am too concerned that it will go into a halt the moment I trade it...




The risk of a halt coming is pretty low now that they have replied to the extremely _speedy _speeding ticket - lol.

Looks like the excuse is investor presentations going on this week...wonder what they've been telling these super special investors that the market doesn't know?


----------



## skc (19 March 2014)

VSntchr said:


> The risk of a halt coming is pretty low now that they have replied to the extremely _speedy _speeding ticket - lol.
> 
> Looks like the excuse is investor presentations going on this week...wonder what they've been telling these super special investors that the market doesn't know?




The speeding ticket brought out the standard response. But the share price hasn't fallen at all. This could be another LEI story... It has every opportunity and reason to fall back down but it didn't. So I'd assume it has some reason to be going up.

Anyway... I lost 2 ticks trying to short it so I am just going to standaside and watch it unfold.


----------



## skyQuake (19 March 2014)

Big block trade went through @ 2.40

Might be the end of the line so that's why it rallied?


----------



## skc (19 March 2014)

skyQuake said:


> Big block trade went through @ 2.40
> 
> Might be the end of the line so that's why it rallied?




Don't know. The market so often throws up this type of mini mysteries. I'd love to know the reasons behind them.


----------



## pinkboy (19 March 2014)

Looks like the brakes have failed and its speeding off into the sunset! 

20%+ gain today!

pinkboy


----------



## VSntchr (19 March 2014)

Good move on taking the small loss SKC. Well worth it to take 2 ticks for what would now be 15+.

I thought this business would struggle a few years ago, and if you completely excluded a take-over event I'd be happy to take on a short now...just not sure how likely a t/o really is.


----------



## skc (19 March 2014)

VSntchr said:


> Good move on taking the small loss SKC. Well worth it to take 2 ticks for what would now be 15+.





Actually it's a bad move. I should have gone long. I read the flow but didn't act... just more bad trading on my part.


----------



## notting (19 March 2014)

I suspect shorters will come back in very aggressively as soon as this little squeeze plays out.:homer:


----------



## So_Cynical (19 March 2014)

So_Cynical said:


> (11th-March-2014) I have hitched my wagon to WTF, in with the superfund at $2.39 thinking the break below $2.40 and the double bottom is a good enough reason to move today..positioning myself for the consolidations to come.
> ~




8 Days in and im out, sold a bit more than half my shares at $2.87 (18.73% profit) lucky to because when i first checked the market was temped to jump out at $2.60/70 this morning then took a deep breath and figured that with the volume some serious buying was going on with sellers just being taken out, then the buying seemed to stall and i thought WTF.

Ended up placing a sell order at $2.87 not really thinking it would get hit and it got smashed...anyway double bottom indicator FTW...keen to buy in again at around the $2.39 mark.


----------



## ROE (5 April 2014)

Damn thought it never happen, I always book via WTF but I just did  a holiday booking via
booking.com came out $45 cheaper and no booking fees.

I always hate the booking fee 

I think WTF day is numbered with the current model, this is one customer that never use their service again


----------



## So_Cynical (5 April 2014)

ROE said:


> I think WTF day is numbered with the current model




I think ALL the local web travel/hotel company's days are numbered, because eventually the big internationals will buy them out/take them over.


----------



## ROE (5 April 2014)

So_Cynical said:


> I think ALL the local web travel/hotel company's days are numbered, because eventually the big internationals will buy them out/take them over.




Why would they buy them out for a premium while they can slowly over time erode their customers based with superior offering?

you can see with Aldi and Coles as soon as their offering is cheaper, customers move to their store...

with online business there is no decent good will.....with physical store you may buy for superior location and demographic that goes with the location etc...


----------



## McLovin (5 April 2014)

ROE said:


> Why would they buy them out for a premium while they can slowly over time erode their customers based with superior offering?




Exactly. All these guys are plugged into the exact same inventory databases. The way I see it panning out is that the big boys Expedia, Travelocity, Priceline etc will end up dominating the industry and the only other competitors will be small niche websites like Tablet who differentiate their product by only listing hotels that they have rated and reviewed.

Internet listing services all run off share of mind. In the old days with classified advertising people bought the paper because they got the news and suited their political outlook etc and that created an attachment with the paper. On the internet, there's nothing that keeps the punter coming back except for knowing they will get a good price. Sites like Trivago that can instantly search multiple websites make it even harder to get an edge.


----------



## VSntchr (5 April 2014)

ROE said:


> Damn thought it never happen, I always book via WTF but I just did  a holiday booking via
> booking.com came out $45 cheaper and no booking fees.
> 
> I always hate the booking fee
> ...




I agree and have said this previously. Booking.com really leaves everything else for dead IMO. The review and rating feature is excellent and the price transparency is something I really like too.



ROE said:


> Why would they buy them out for a premium while they can slowly over time erode their customers based with superior offering?
> 
> you can see with Aldi and Coles as soon as their offering is cheaper, customers move to their store...
> 
> with online business there is no decent good will.....with physical store you may buy for superior location and demographic that goes with the location etc...




+1


----------



## So_Cynical (5 April 2014)

ROE said:


> Why would they buy them out for a premium while they can slowly over time erode their customers based with superior offering?




Because its easy and that's how the world works...why did William Hill buy Tom Waterhouse and Sportingbet? when they could of just "slowly over time eroded their customers based with superior offering" maybe they were in a hurry?



McLovin said:


> On the internet, there's nothing that keeps the punter coming back except for *knowing they will get a good price*.




While i can see your point and its a valid one, i don't agree 100%, just based on my personal experience i have always booked my flights via WTF and always will until i see a compelling reason no to. I know it works, i know its cheap, and i know what im getting and im very comfortable with the site.

I know im going to get a good price.

------------

Am i missing something, i cant see any flights on booking.com?

http://www.booking.com/


----------



## herzy (16 April 2014)

I use skyscanner - tends to compare all the comparison sites, and no bookng fee. Have never felt the need to use Wotif


----------



## ROE (16 April 2014)

So_Cynical said:


> Because its easy and that's how the world works...why did William Hill buy Tom Waterhouse and Sportingbet? when they could of just "slowly over time eroded their customers based with superior offering" maybe they were in a hurry?
> ]




Betting business is a little different, there is a small switching cost as in you got to fill the paper work, get it check out and verified so its a little harder for Average Joe to switch betting sites... where as booking sites has no such switching cost, it is a matter of click on another link.

Also most betting odds are very similar so you don't really need to switch unless you sign up for some sort of promotion... Betting business I say is a first mover advantage, those who suck up large customers base should be able to maintain that same customer based without too much hassle.

So anyone else wanting to grow their customer based either buy up someone else or offer some very generous sign up bonus which probably cost as much as taking over someone else database so buy up the database is the way to go.

I was a Centrebet investors some years ago because of that, they are one of the first mover in online betting...They got taken over for a premium but I still believe in the business and didnt think the owner need to sell for that reason...I reckon if they have kept the business and expand Centrebet will be bigger today than when they sold them up

I am surprised that most of these booking sites don't make it less enticing for customers to go to another site

by keeping all their infor online so all they need is a login and offer them some sort of reward for repeat purchase. Actually come to think of it agoda do do it and I use them a lot when travel oversea.

and WTF know they are on the decline, extra investment yield little return for them in recent time.. they probably know they cant compete with the larger oversea player and they pretty much put up the for sale sign but no one come forward yet.

If there is no buyer in the next 18 months then I reckon there wont be a buyer...


----------



## Apokolips (25 April 2014)

Definitely today's secret buy...


----------



## Joe Blow (25 April 2014)

Apokolips said:


> Definitely today's secret buy...




Apokolips, could you please elaborate on this statement? I'm not quite sure what you mean.

Also, please note that ASF members are not permitted to recommend stocks as a "buy" or "sell" as this may be interpreted as unlicensed financial advice.


----------



## McLovin (3 June 2014)

Good article in the BRW about the intense competition in online travel...

http://www.brw.com.au/p/business/mid-market/travel_start_business_and_foreign_6BXOAxUI6GH4ftaam1M64H

This kind of put things in perspective, IMO.



> Soemino says that although it is making changes Wotif has limited resources to tap. She says that although Wotif has recently increased its commission on room rates from 10 per cent to 12 per cent in line with the industry standard, the firm is facing increasing competition from international giants such as Priceline (which owns Booking.com) which last year spent $US1.8 billion ($1.9 billion) on search engine marketing.


----------



## ROE (3 June 2014)

McLovin said:


> Good article in the BRW about the intense competition in online travel...
> 
> http://www.brw.com.au/p/business/mid-market/travel_start_business_and_foreign_6BXOAxUI6GH4ftaam1M64H
> 
> This kind of put things in perspective, IMO.




I think the model that charge booking fee is now un-sustainable when booking.com doesn't charge booking fee
it was a good idea when there is no one else around but the space is now crowded and full of cheaper booking site


----------



## odds-on (7 July 2014)

Expedia to buy Wotif. See ASX announcement for full details.

I am looking at a tidy profit for a purchase made in May.

Cheers


----------



## So_Cynical (7 July 2014)

So_Cynical said:


> (24th-January-2014) *I think its only a matter of time before the online travel industry gets into some serious consolidation...growth by acquisition will be the way forward*, the industry while operating with thin margins is rock solid and not about to be replaced by anything else.






So_Cynical said:


> (24th-January-2014) *3 or 4 big players will emerge*, just a matter of picking the right stock.






So_Cynical said:


> (13th March-2014) I have hitched my wagon to WTF, in with the superfund at $2.39 thinking the break below $2.40 and the double bottom is a good enough reason to move today..*positioning myself for the consolidations to come.*
> ~




Hate to say i told you so - oh hell i love it  i saw this coming clear as day.

$3.30 per share including a special dividend...$3.40 with the franking credit.

WTF up 25% today.


----------



## skc (7 July 2014)

So_Cynical said:


> I have hitched my wagon to WTF, in with the superfund at $2.39 thinking the break below $2.40 and the double bottom is a good enough reason to move today..positioning myself for the consolidations to come.
> ~






So_Cynical said:


> Hate to say i told you so - oh hell i love it  i saw this coming clear as day.
> 
> $3.30 per share including a special dividend...$3.40 with the franking credit.
> 
> WTF up 25% today.




A great call. 

You seem to have a knack of attracting takeovers. :bowdown:

P.S. I was going to post a message earlier but I didn't have the time to find all the awesome quotes to demostrate your call. 

P.S. Bought some WEB this morning. Let's see if some of the enthusiasm brushes off.


----------



## McLovin (7 July 2014)

So_Cynical said:


> Hate to say i told you so - oh hell i love it  i saw this coming clear as day.
> 
> $3.30 per share including a special dividend...$3.40 with the franking credit.
> 
> WTF up 25% today.




Well played.

I'm still confused as to why they're bothering when they're already eating WTF's lunch, but anyway.

Interesting anecdote: I had to book a flight and for some reason Expedia's booking engine wasn't working, so I called Expedia and was put in a long queue and gave up after 10 minutes holding, then I rung Qantas, again placed in a holding pattern and gave up after five or so minutes. Finally, I rung Flightcentre (haven't used them in about ten years) call was answered immediately by someone who's first language was English and who was located in Australia and who I dealt with throughout the entire booking process. There was no generic email with the eticket and intin it came from the guy's own email address.


----------



## ROE (7 July 2014)

Nice

I was wrong ... I thought they going just bleed them and slowly dry up their customer based.
too risky just to bet on take over prospect that why I didn't enter


----------



## System (18 November 2014)

On November 17th, 2014, Wotif.com Holdings Limited (WTF) was removed from the ASX's official list following  implementation of the scheme of arrangement with Expedia Australia Investment Pty Ltd.


----------

