Hotels.com's offices were evacuated and its stock suffered a sharp drop after a white powdery substance was discovered in the company's mailroom. Local authorities in McAllen, Texas, ordered the evacuation of the Hotels.com processing center -- where about 100 people process reservations made thr...
Leading travel sites have unveiled a slew of promotions in recent days aimed at boosting their hotel sales, in apparent recognition that long-slumping airline ticket sales might not soon recover. Both Priceline and Expedia unveiled hotel service upgrades targeted at consumers, and Expedia also be...
The war of words over travel site Orbitz has reached the White House. Several Orbitz competitors, including Travelocity parent Sabre Holdings and Expedia.com, recently sent representatives to a White House meeting, at which they made their case for stepping up reviews -- already under way by the ...
Many technology companies thought 2001 was a tough year, but compared with today's devalued Dow and spooked investors, last year may turn out to be a fond memory. However, according to some analysts there are still a few tech companies that are good bets for the future. "You have to look at the b...
The bursting of the high-tech bubble may already have done away with the weakest players in e-commerce, but experts say the sector's survivors still face tough times in the second half of 2002 and beyond. "We are seeing larger players gaining market share against a background of shrinking demand,...
Expedia has rejected a takeover bid from USA Interactive, the online travel service's largest shareholder. The snub was not entirely unexpected. Many company officials and shareholders had denounced USA Interactive's intentions to buy the remaining 37 percent of Expedia. USA Interactive head Barr...
Travel company Expedia has announced it will buy a privately held business travel agency and will use the acquisition as the core of an effort to enter the corporate travel market. Expedia did not disclose terms of its purchase of Metropolitan Travel, but it noted that the 20-year-old firm did $15...
As the stock market searches for solid ground, testing lows set after September 11th and bracing for another uncertain earnings season, those who watch the tech economy say the question of how to value technology stocks remains a riddle. "Some are still growing rapidly; others moved into a profit...
Priceline.com said it would not meet its own sales targets for the current quarter, pointing at the failure of an expected seasonal increase in airline ticket sales to materialize. The name-your-price e-tailer said that second-quarter revenue would be about 5 percent below the company's previousl...
Northwest Airlines has discontinued its relationship with online travel auctioneer Priceline. The airline reportedly is concerned by changes in Priceline's business model, which was recently modified to include a fixed-price option. But analysts said they suspect the real reason may run deeper, si...
Amid the chaos of the past two weeks, when travel companies were tripping over one another to cut deals, merge and otherwise grab whatever they could while the grabbing was good, Priceline.com was just as busy as its competitors. But Priceline might have something the others don't: a plan. It mig...
More than half of all U.S. retailers said their online sales operations achieved profitability in 2001, and growth could top 40 percent in 2002, according to a joint report published by the Boston Consulting Group, Forrester Research and Shop.org. The study predicted that online sales will grow 4...
Already-troubled e-commerce stocks took their share of beatings when the market turned south last fall. Surprisingly, though, some of those dot-com issues have seen the most impressive rebounds in recent weeks. "The weakest players have been weeded out and have gone away," Morningstar e-commerce ...
Mere days after announcing a $4.5 billion buyout effort, USA Interactive is backing away from the deal, citing sour market reaction. "It's interesting that [investors] would pan it," Morningstar.com analyst George Nichols told the E-Commerce Times. "Often, a move like this would help the stock be...
Priceline.com has bought the domain name and trademark assets of onetime competitor Lowestfare.com, which stopped selling airline tickets a month ago. The deal is the latest in a string of partnership announcements and buyout attempts in the sector. Terms of the pact were not disclosed, although ...
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