June 26, 2017
Expedia loses hotel rate parity case in France
Expedia has been fined €1 million by a French court and ordered to cease demanding “tariff parity” from hotels following an appeal brought by the government in Paris.Read more
Shares of Orbitz Worldwide Inc. fell more than 7% to $2.40 on Wednesday morning after the online travel site reported a sharp jump in third-quarter earnings but issued a disappointing revenue forecast for the current period.
Orbitz Worldwide Inc on Wednesday reported higher quarterly profit but cut its full-year forecast, sending its shares down more than 11 percent.
The Chicago-based online travel agency, which owns the CheapTickets and ebookers travel sites, said the downturn in Europe slowed growth in hotel room nights. But it added that the market was recovering.
Still, the company cut its full-year forecast for net revenue and adjusted earnings before interest, taxes, depreciation and amortization, citing marketing challenges with its U.S. consumer business.
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