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Orbitz Looks to Sell Away Network Assets

Online travel agency Orbitz Worldwide (NYSE: OWW  ) has announced it is exploring "strategic alternatives" for the assets within its Away Network, an aggregation of travel search and media sites including Away.com, Trip.com, GORP.com, and AdventureFinder.com. The Away Network offers travelers specialized travel content such as deals, reviews, and travel advice similar to TripAdvisor

Orbitz said 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 would not change the company's earnings outlook for 2013.

"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.

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Rich Duprey
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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.

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7/7/2015 4:01 PM
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