Orbitz Worldwide Inc
Company & Industry Overviews
Analyzing Expedia’s Operational and Financial Performance
Travel sites such as Expedia (EXPE), TripAdvisor (TRIP), Orbitz (OWW), and Priceline (PCLN) have gained substantial market dominance in the past decade.
Company & Industry Overviews
What Business Model Does Expedia Follow?
Of the two most popular business models in the online travel agency industry, Expedia uses both the merchant model and the agency model.
Highlights of Priceline Group’s Performance in 4Q14
For 4Q14, Priceline Group recorded bookings of $10.7 billion—up 17% YoY. Room nights booked grew by 24% and rental car days grew by 16%.
Eton Park Initiates a New Position in Priceline Group in 4Q14
In 4Q14, around 112 hedge funds created a new position in Priceline Group—including Eton Park. Its other top new positions were CDK Global, EQT, and KLX.
Company & Industry Overviews
Amazon Enters the Online Travel Market with Amazon Destinations
The online travel market is consolidating. Expedia’s market share will rise to 75% with its acquisitions of Orbitz and Travelocity.
Orbitz’s Cash Flow Generation and Credit Profile
Orbitz Worldwide (OWW) has an established track record for generating positive operating cash flows. Its existing cash balance is $188 million.
A Bird’s-Eye View of Orbitz Worldwide’s Full Year Performance
In fiscal 2014, Orbitz posted double-digit revenue growth on the back of strong hotel bookings. It experienced a 10% year-over-year growth in total revenues to $932 million.
Expedia Plus Orbitz Will Equal Largest Online Travel Company
On February 12, Expedia announced its acquisition of Orbitz in an all-cash transaction worth $1.6 billion, or $12 per share. The deal is under regulatory review.
Magnetar Capital Reveals Activist Stake in Orbitz Worldwide
In March 2015, Magnetar Capital purchased 6.27 million shares of Orbitz Worldwide, Inc. (OWW), giving the hedge fund a 5.6% stake in the company.
Did Expedia acquire Orbitz out of fear of Amazon?
Expedia (EXPE) announced its intention to buy Orbitz Worldwide (OWW) for a valuation of $1.8 billion. Just last month, Expedia acquired Travelocity.
Luxor Capital ups position in Altisource Asset Management
Altisource Asset Management’s primary business is to provide asset management and certain corporate governance services to institutional investors.
Luxor Capital raises stake in Altisource Portfolio Solutions
Altisource Portfolio Solutions and its subsidiaries are a premier marketplace and transaction solutions provider for the real estate, mortgage, and consumer debt industries.
Luxor Capital adds to position in BJ’s Restaurants
In 3Q14, BJ’s total revenues increased 9.7% to $206.5 million and net income rose 77.7% to $6.5 million.
Luxor Capital ups stake in RCS Capital
RCAP, which has a ~$1.24 billion market cap, is an investment firm that focuses on the retail investor.
Luxor Capital adds new position in Orbitz Worldwide
Orbitz net revenue rose 10% year-over-year to $248.1 million in 2Q14 as a result of higher hotel, vacation package, car, and air transaction volume.
Christian Leone’s Luxor Capital adds a new position in Yahoo
Recently, Yahoo shares went higher after third quarter earnings and revenue beat analyst estimates. Third quarter profit rose to $6.77 billion.
Luxor starts new position in Melco Crown Entertainment
Melco’s net revenue for the second quarter of 2014 was $1.19 billion, down approximately 7% year-over-year.
Luxor Capital’s new positions in 2Q14
As of the end of 2Q14, Luxor Capital’s U.S. long portfolio was worth $5 billion, slightly down from $5.07 billion in 1Q14.
Comparing Orbitz Worldwide to its online travel peers like Expedia
We compared Orbitz Worldwide Inc. (OWW) with its peers Expedia (EXPE), The Priceline Group (PCLN), the China-based Ctrip.com International (CTRP), and TripAdvisor (TRIP) in the OTA (online travel agency) space.
Why Orbitz’s international strategy focuses on expansion in China
Orbitz said in its annual filing that it’s focusing on expanding its international presence through both product innovation and new market expansion.
A key overview of global online travel company Orbitz Worldwide
The Chicago-based Orbitz Worldwide Inc. (OWW) is a global online travel company (or OTC). It recently posted a net loss for the first quarter of 2014 although its revenue grew, driven by hotel bookings.
Why Expedia saw revenue from hotel bookings and advertising rise
Expedia reported better than expected results for 4Q13. Revenue was up 18% year-over-year, to $1.152 billion due to growth in hotel room nights and advertising and media revenue.
Expedia rolls out ETP program to compete with agency model peers
During 2012, Expedia introduced the Expedia Traveler Preference (ETP) program in the U.S. that offers travelers the choice to either pay Expedia at the time of booking or pay the hotel at the time of stay.
Why Priceline expects mobile bookings to catalyze growth
The total transaction value of mobile accommodation bookings more than doubled from over $3 billion in 2012 to over $8 billion in 2013.
Why Priceline and Expedia clash over “opaque” hotel offerings
Priceline earns the majority of its revenues from the agency model, under which third parties such as hotel suppliers set the rates while Priceline earns a commission on the transaction.
A must-know overview of online travel leader The Priceline Group
The Priceline Group (PCLN) is a leading player in the online travel services industry. It comprises five primary brands: Booking.com, Priceline.com, Agoda.com, KAYAK, and Rentalcars.com.
Why is Ambassadors Group an attractive turnaround opportunity
Ambassadors Group (AG) (EPAX) is a leading provider of education travel. At a market cap of $65 million, the street is valuing the travel business at about $30 million. That may not seem too cheap given the level of business they are doing today and the fact that they are just about breakeven. But the […]