Travelmad Announces Distribution Agreement - 16 July 2001
TravelMad.com, Europe's largest online travel service spanning 22 countries across the continent, today announced a distribution agreement with Yell.com, the destination site from Yell.The deal marks the first in a series of forthcoming affiliate agreements for TravelMad. Visitors to Yell.com's Travel Channel will have access to TravelMad’s exclusive hotel discounts, vacation packages and car hire specials.
The agreement marks a significant milestone for TravelMad’s launch into the UK market as part of its aggressive expansion drive into Europe. Recognising that the European online travel market is set to reach US$10.9 billion by 2002, TravelMad sees such agreements as essential in securing its share of this growing market.
The arrangement is designed to capitalise on the rising numbers of people using the Internet to plan and book their holiday online. A recent Jupiter Media Metrix report showed that between November 2000 and April 2001, visits to travel sites increased by over 1 million in the UK alone. With over 35% of the UK population already online, these figures will continue to rise.
TravelMad's in-house affiliate solution software offers [partners] a customised co-branded travel site within a matter of hours. Revenue is earned from commission on each booking and is shared between both parties. "As travel has proved to be one of the most successful ECommerce categories to date, the revenue potential for our affiliates is very lucrative. Both parties stand to benefit substantially. It’s a winning combination!" noted Alan Sweeney, Chief Operating Officer of TravelMad Ltd. "We intend to work closely with our premium partners such as Yell and expect to see up to 40% of all our traffic coming from partnerships by the third quarter of this year," he concluded.
