Posted November 3, 2004 - San Francisco

ECT Grows As IAC Profits Explode

Although it continues to lose money, Expedia Corporate Travel enjoyed 74 percent higher year-over-year gross bookings in the third quarter and is on track for an annual run rate of about $550 million in gross bookings, officials told analysts and investors on a conference call today. Read More »
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Posted November 3, 2004 - San Francisco

Orbitz' Merchant Hotel Growth Helps Boost Profits

Orbitz Inc. reported 31 percent higher net income of $5.1 million in the third quarter, including one-time items. Net revenues rose 20 percent to $77.5 million as gross travel bookings increased 20 percent to more than $1 billion. Read More »
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Posted November 2, 2004 - New York City

Impact On IAC Of Hotel Site Growth Debated

'Increased competition from direct suppliers' is among the 'issues and catalysts' to watch as InterActiveCorp reports third-quarter earnings tomorrow, according to a preview of the results issued today by CIBC World Markets analyst Paul Keung. Read More »
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Posted November 2, 2004 - New York City

Cendant's Katz Talks Market Size, GDS Economics As Orbitz Deal Nears Close

Katz addressed investors and analysts this afternoon at the Morgan Stanley Software, Services, Internet and Networking Conference. Separately, Cendant today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act for its proposed acquisition of Orbitz. Read More »
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Posted October 28, 2004 - New York City

Aetna Picks TBiz; Sabre Earnings Rise

With 2003 revenues of $16 billion and a travel budget that sources estimated at $40 million, Aetna is now one of the largest corporations ever to select an online agency to handle travel. TBiz signed the far bigger Citigroup earlier this year, but only for a portion of its business. Read More »
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Posted October 28, 2004 - New York City

Sabre Explores Menu Pricing

Sabre Travel Network is in discussions with 'a number' airlines on a new pricing menu that seeks to recognize the value of services Sabre provides the carriers. Different charges could be levied based on whether the booking is for a long- versus a short-haul flight, or possibly depending on the extent to which an airline works with Sabre's other business units, such as Airline Solutions. Read More »
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Posted October 27, 2004 - New York City

Amex's Arway Takes On Australia

American Express Business Travel general manager and executive vice president for North America Pamela Arway in January will move to Sydney from New York to become the company's country manager in Australia. As CEO of the market, Arway will run Amex's consumer card business. Read More »
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Posted October 26, 2004 - New York City

TECHNOLOGY: Worldspan, IBM Seek Next-Gen Core System

IBM earlier this month revealed multimillion-dollar enhancements to its mainframe technology that runs the global distribution systems and many airline systems, potentially lowering the costs of programming on it. Worldspan is a launch customer for what IBM is calling z/TPF, which it said would be fully in production by next September. Read More »
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Posted October 26, 2004 - New York City

Navigant Retooling To Better Compete

Navigant International is requiring from its regional divisions more realtime reporting of ongoing client negotiations and is exploring ways to keep better tabs on client shifts to online booking. The company is attempting to prevent such surprises as the negatively revised third-quarter earnings guidance issued October 15 that has since dropped shares nearly 30 percent. Read More »
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Posted October 25, 2004 - New York City

Amex Earns Q3 Record, Intensifies 'Reengineering'

Amex said Travel Related Services revenues rose 13 percent year-over-year and expenses climbed 12 percent, including a 15 percent increase in human resources costs “due to merit increases, greater management incentive and employee benefit costs and the Rosenbluth acquisition.” Read More »
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