The Flight Centre Travel Group Ltd (ASX: FLT) share price climbed 4 per cent to $45.02 today after the travel bookings giant updated analysts on its Travel Experience Network (TEN) business operating unit.
The $4.5 billion company wants to deepen its footprint in the specialist travel tour sector that offers more opportunity to "capture a greater share of the travel wallet" or in-destination spend.
Flight Centre already has a dominant holiday travel business with significant operations in Australia, the UK and US, as well as running Australia's largest corporate travel business.
Despite its strong balance sheet and long track record of success short sellers have been betting heavily against the stock in the belief the business would lose market share to online-only travel booking rivals.
Partly as a result of short sellers having to close out losing positions over the last six months, Flight Centre shares have gained around 43 per cent after its positive first half of trading over 2017.
