NEW YORK— Shares of Travelocity.com have regained nearly a third of their recent losses, caused by weak airline bookings, due to a partnership with Site59.com, a last-minute discount travel package distributor. Travelocity closed at $25.93 on June 19, up $4.03, or 18% following the partnership announcement. The company is currently trading at $28.98. This represents a significant climb out of a three-week dive, which ended on June 18 at $21.40, off a 44.8% drop in value from a May 25 high of $38.79. Travelocitys recent drop was spurred in part by weaker-than-expected airline bookings and the early June launch of airline-backed online travel agency Orbitz.com, analysts said. In the new partnership, privately held Site59 will offer discounted packaged deals including air, car and hotel reservations to Travelocity customers, 11% of whom leave the booking of their hotels until the week before they fly, according to Reuters . SOURCE: Reuters
Previous ArticleCA Hotel Introduces New Services For Female Travelers
Next Article U.S. Bancorp Serves As Underwriter For TX Hotel