Orbitz Worldwide Seeks Strategic Alternatives for Away Network
CHICAGO, Feb. 15, 2013 /PRNewswire/ -- Leading online travel company Orbitz Worldwide Inc. (NYSE: OWW) announced today it is exploring strategic alternatives for some or all of the assets within the Away Network. The Away Network includes specialized travel content, valuable domain names with strong organic traffic and an active customer base seeking travel news and deals.
"As we assess the prioritization of investments in different areas of our business, in particular in the context of the encouraging trends that we're seeing in hotel, we've made the determination that the elements of the Away Network, either collectively or individually, are likely to be more valuable to other parties," said Sam Fulton, senior vice president of product strategy at Orbitz Worldwide.
The company said that the revenue and adjusted EBITDA associated with the Away Network is immaterial to overall Orbitz Worldwide financial results, and that a sale of some or all of the assets associated with the Away Network would not change the company's earnings outlook for 2013.
Interested parties should contact Orbitz Worldwide Corporate Development via email at firstname.lastname@example.org.
About Orbitz Worldwide
Orbitz Worldwide is a leading global online travel company that uses innovative technology to enable leisure and business travelers to research, plan and book a broad range of travel products. Orbitz Worldwide owns a portfolio of consumer brands that includes Orbitz (www.orbitz.com), CheapTickets (www.cheaptickets.com), ebookers (www.ebookers.com), HotelClub (www.hotelclub.com), RatesToGo (www.ratestogo.com) and the Away Network (www.away.com). Also within the Orbitz Worldwide family, Orbitz Worldwide Distribution (corp.orbitz.com/partnerships/distribution) delivers private label travel solutions to a broad range of partners including many of the world's largest airlines, and Orbitz for Business (www.orbitzforbusiness.com) delivers managed corporate travel solutions for corporations. For more information on partnership opportunities with Orbitz Worldwide, visit corp.orbitz.com.
Orbitz Worldwide uses its Investor Relations website to make information available to its investors and the public at investors.orbitz.com. The public can sign up to receive email alerts whenever the company posts new information to the website.
SOURCE Orbitz Worldwide