Online travel agency Orbitz Worldwide (UNKNOWN:OWW.DL) 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.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Priceline.com and TripAdvisor. The Motley Fool owns shares of Priceline.com and TripAdvisor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.