Travelzoo, the “most trusted” publisher of travel, entertainment and local deals, announces they negotiations to acquire an online booking site to fortify long-term growth strategy.
Chief executive, Chris Loughlin, explained in a trading statement that their hotel search offering and group-buying voucher model was not meeting the needs of hotels and users well enough. This observation will lead the company to adjust their product offering, namely by allowing users to make bookings on the site as well as find deals.Travelzoo currently has more than 25m subscribers in North America, Europe and Asia Pacific, publishing deals from 2,000+ travel and entertainment companies. Loughlin is optimistic about company growth as Travelzoo expects to report revenues in the range of $35 million to $35.5 million and earnings per share of $0.20 to $0.22 for the third quarter. The move to include booking abilities to their operations is intended to strengthen a positive outlook on long-term growth strategy.
