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A venture like wotif uses rather complex model; in the business theory it called multisided market. Such name is used because unlike a simpler business (for example retail store) there are 2 or more groups of customers:
– businesses (hotels with wotif);
– travelers
– partners I believe (it’s assumption, I may be wrong) that for wotif part of their hotels are sourced through other similar networks;

So effectively you provides a kind of platform where all these participants operate. For the success of the platform you need to have critical mass of players on both (let’s take simpler two-side case) sides. So you will face chicken and egg problem: businesses will not be much interested to sign-up till you have a decent traffic and consumers will not be interested to visit your site until there will be good offers. Hence you have a pretty hard business challenge and like was mentioned before it is very helpful to have a background and network in industry to foster recruitment of first players.

On the technical side it’s rather complex project as well, especially if the scale is large. So the technical partner or consultant and a team of good developers (depends on your finances in-house, outsourced or combination) are also important.