Travel Sites Get Boost from Four-Star Hotels at Three-Star Prices

As summer began, the online travel business was facing some serious turbulence. Frugal U.S. consumers were grounded by rising airfares. A Greek debt crisis and a plunging euro threatened to limit travel in Europe, a major growth market for online travel. Further complicating worldwide travel was political unrest in Thailand, a popular destination, and volcanic ash that shut down European air travel.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.