Expedia to buy Orbitz for $1.33 billion

Online travel giant continues spending spree
Online travel booking company Expedia will spend around $1.33 billion in cash to buy its rival Orbitz Worldwide. Expedia and other online travel giants such as Priceline have been on a spending spree in an effort to dominate the online travel business in the face of growing competition from Google as well as airlines’ and hotel chains’ own online sales.
Expedia Inc. bought Travelocity in January and Wotif Group in November. It also owns Hotels.com, Hotwire, trivago and many other brands. Insiders say the Orbitz deal, which would generate $75 million in savings and revenue in the first year after the two booking agencies are integrated, would probably get US regulatory approval.
Expedia hinted it may now ease up on the purchases. “We’ve got plenty on our plate and we’re not necessarily looking to jump around in the [coming] weeks or months,” said Expedia chief executive Dara Khosrowshahi.
[photo courtesy Expedia]

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