Good news in the hospitality sector, at least for Starwood Hotels & Resorts Worldwide, Inc., first quarter earnings exceeded Wall Street expectations. According to RevPAR, performance of Starwood same-store hotels grew worldwide by some 3.4 percent.
The financials are in from Expedia. According to the reports, wile quarter 4 revenue was up by 6.7% at $787.1 million compared with the previous year, expenses took their toll virtually eliminating and growth for 2011.
Travelport and Orbitz are in the positive and negative news again today. Travelport for any number of announcements of business dealings, and Orbitz for a very negative S & P rating they just received. Since it was announced that Travelport needed to restructure its dept, it seems as if neither of these online travel giants can catch a break.
With the holiday travel season upon us, and Google pushing online travel giants around, the best Orbitz can come up with is a mobile application and a drug store marketing deal. American Airlines is about to pull one of Orbitz’s biggest calling cards and the company is doing research about holiday airport traffic? Just what is up with this online travel giant leaves room for much speculation.
Rumors are about suggesting Google may be in the market for online travel portal Opodo. If the news that Amadeus is selling one of its travel units are true, a bidding war between some key financial and online travel players may ensue. Google’s ITA transaction has many people concerned that the Internet giant may dominate the online travel game.