NEW YORK— Online travel agency Orbitz opened its virtual doors for business on June 4, challenging industry giants Travelocity.com and Expedia for a slice of the Internet travel market. Since February the Chicago-based company, which is owned by five major U.S. airlines, has been beta- testing its services and already more than 175,000 travel buyers have spent about $4 million on Orbitz. Orbitz has promised the most comprehensive and unbiased travel information online, but faced a barrage of criticism that it reduces competition. The venture is owned by United Airlines parent UAL Corp., Delta Air Lines, Continental Airlines, Northwest Airlines Corp., and American Airlines parent AMR Corp. It also has agreements with other carriers, including hotel chains and car rental companies. Orbitz executives also claim that within three years it will achieve 20% to 30% of the market share for online travel agencies and expects to turn a profit by the first quarter of 2002. SOURCE: Reuters
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