Orbitz Worldwide Seeks Strategic Alternatives for Away Network
CHICAGO, Feb. 15, 2013
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.
Among the Away Network's sites are Away.com, Trip.com, GORP.com,
"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 email@example.com.
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
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
Contact: Orbitz Worldwide, +1-312-894-6890, firstname.lastname@example.org
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