Orbitz up for sale, say reports
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.
Speculation has emerged that Google is a possible suitor.
Chicago-based Orbitz, firm which operates Orbitz.com, ebookers 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 rumours and speculation about potential transactions and market activity,” he said.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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