Tourism Industry News
Travelzoo hopes to sell its bleeding Asia Pacific division
Travelzoo plans to sell its Asia Pacific division. Not an easy undertaking, when you consider that Travelzoo’s Asia Pacific division reported revenues of approximately $1.5 million and an operating loss of approximately $7.8 million for the twelve months ended June 30, 2009.
While we remain upbeat about business prospects in Asia Pacific, we believe we can currently create more shareholder value by redirecting and focusing our investments in other areas of the Travelzoo franchise where we see more compelling near-term growth opportunities, such as in Europe, North America, and our new Fly.com search engine,” said Holger Bartel, Travelzoo’s chief executive officer. “Consequently, we intend to sell our Asia Pacific division.”
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