In what is likely to be its final publicly filed earnings statement before it goes private, Travelport reported a 4 percent year-over-year decline in worldwide global distribution system segments and a modest rise in net revenue and earnings for the three months ending Dec. 31, 2018.
A consortium that includes Siris Capital Group and Elliott Management are in late-stage talks to acquire Travelport, Reuters reported Thursday, citing unnamed sources.
Publicly traded global distribution system operator Travelport has agreed to be taken private by Siris Capital Group and Evergreen Coast Capital, which plan to buy outstanding common shares for $15.75 each and assume Travelport's debt in a deal valued at $4.4 billion, the company announced Monday.
In the run-up to Travelport's agreement last month to go private with Siris Capital Group and Evergreen Coast Capital, 10 different "financial sponsors" and five "strategic parties" emerged as potential suitors for the global distribution system operator or its assets.
Business travelers' increasing use of mobile technology to search for and book hotel rooms is forcing the lodging industry to rethink their sales strategies and, in some cases, reduce in-house sales teams, according to a panel of experts at last month's New York University Hospitality Investment Conference.
Travel technology entrepreneur Gadi Bashvitz aims to move hotel booking automation beyond online booking into what he calls "proactive booking," in which rooms are booked for travelers without the need to enter any information or search through results.
The lineup for PhoCusWright's Travel Innovation Summit here last week included some faces familiar to corporate travel buyers. As history has shown, however, other technologies designed more for the leisure space often find their place in corporate programs.
Hotel distribution costs will increase significantly during the next few years, with several players now barely a blip on the hotel distribution radar poised to dominate quickly, according to a massive study of distribution channels released last month by the American Hotel & Lodging Association and STR.
The following is a guest column by Gillespie's Guide to Travel+Procurement author Scott Gillespie.