Orbitz seeking a buyer
Online travel agency Orbitz Worldwide is putting itself on the market and plans to talk with potential buyers, according to a Bloomberg report.
The OTA, which has a current value of about $1 billion, is working with a financial advisor and has attracted interest from private equity funds and internet companies, the report says, citing unnamed sources.
The Chicago based firm which operates Orbitz.com and Cheaptickets.com, has fallen away in recent years against the likes of Expedia and Priceline.
However a travel industry analyst says its move to put itself in the shop window is not necessarily a sign of a company in trouble.
"I don’t see this as a negative situation," said Henry Harteveldt of Atmosphere Research Group.
"This should not be interpreted as an indication that Orbitz is a failing business. They could be valuable to somebody," he said.
Orbitz went public in 2007 and was previously part of Travelport Ltd.
Orbitz spokesman Chris Chiames refused to be drawn on the report.
"Our company policy is not to comment on rumors and speculation about potential transactions and market activity," he said.
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