Stocks of Priceline and Orbitz plummeted yesterday because of weaker than expected earnings this year. The top-grossing paid travel app FlightTrack is coming out in a free version today, and there’s a potential game-changer in the indoor-navigation space.
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Orbitz Worldwide announced the resignations of its CFO and the president of its partner services group, and the global hotel business team will now report directly to CEO Barney Harford.
Orbitz Worldwide went along with most of the online travel agency pack and eliminated the bulk of its flight-booking fees for its US brands in 2009, but quietly brought them back on CheapTickets.com in September 2011.
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Kayak issued the ninth amendment to its initial public offering prospectus and indicated it intends to make a big push to expand its hotel offerings.
Orbitz Worldwide says its multi-year contract with Hilton Worldwide and its 10 brands has expired and beginning March 2 it stopped showing some Hilton inventory and “reduced the prominence” of other properties on Orbitz Worldwide’s global sites.
Orbitz Worldwide is pinning its hopes on a now-completed technology platform migration and an American Express private label deal, which is supposed to generate some momentum starting in the fourth quarter of 2012.