April 15, 2003 |
Hilton Hotels Corp., striking back at discount hotel Internet sites, said Monday that it agreed to give online travel service Expedia Inc. access to its central reservation system. The two-year partnership is part of a strategy aimed at eliminating deeply discounted Hilton hotel rooms on the Internet. In return, Expedia has pledged not to undercut Hilton's prices and agreed to significantly cut its commissions to the hotel operator.
February 6, 2003 |
Expedia Inc. said fourth-quarter profit rose more than fourfold as more people used the company's Web site. Also, founder and Chief Executive Richard Barton resigned. Barton will be succeeded by Erik Blachford, president of Expedia's North American operations, the company said. Net income jumped to $21.4 million, or 33 cents a share, compared with $5.22 million, or 8 cents, a year earlier. Sales more than doubled to $163.9 million. Shares of Bellevue, Wash.-based Expedia gained $2.93, or 5.
December 13, 2002 |
USA Interactive, the Internet commerce company run by Barry Diller, restructured management ranks into three core categories and said the head of its electronic retailer, HSN, is leaving. The company -- home to travel firms Expedia Inc. and Hotels.com, Ticketmaster and dating service Match.com -- said it would reorganize operations into three groups: information and services, electronic retailing and travel services. Shares of New York-based USA fell 35 cents to $24.34 on Nasdaq.
September 24, 2002 |
Heidi Galli, who is in charge of arranging travel plans for employees at a small software development firm, can't recount the last time she booked an unrestricted, full-price airline ticket. That's because she never has. Galli, director of administration for SmartEquip Inc., a 2-year-old firm in Norwalk, Conn., that develops software for equipment rental companies and distributors, seeks only discounted Web fares to book company travel.
July 24, 2002 |
Expedia Inc., the largest Internet travel agency, had a second-quarter profit of $19.1 million and increased its forecast for annual sales. Net income was 29 cents a share, contrasted with a loss of $4.35 million, or 9 cents a share, in the year-earlier period, the company said. Sales rose 85% to $144.9 million. Revenue for the year will be about 29% greater than an earlier forecast of $450 million as more consumers use the Internet to book reservations, Expedia said. Expedia's shares fell $6.
July 12, 2002 |
Expedia Inc. rebuffed a takeover offer from its biggest shareholder, USA Interactive, run by media mogul Barry Diller, on grounds that it saw more growth potential if it remained independent. A special committee of Expedia's board of directors, which considered Diller's offer for the 37% of the Web travel agent that USA Interactive does not already own, said the company's "stand-alone prospects continue to be excellent." Expedia shares closed up 34 cents at $58.
June 4, 2002 |
In an aggressive bet after the dot-com bust, the interactive unit of Barry Diller's media empire announced Monday a $4.5-billion plan to take over three Internet companies in its quest to become the world's largest e-commerce conglomerate. The unsolicited offers for online travel agency Expedia Inc., online entertainment hub Ticketmaster Inc. and discount lodging firm Hotels.com expand USA Interactive Inc.'s push to take advantage of the stock market slump and snap up companies on the cheap.
December 30, 2001
Internet travel seller Expedia was fined $40,000 earlier this month by the U.S. Department of Transportation for failing to include fuel surcharges, generally about $20 on a one-way ticket, in some air fare listings. The consent order was one of seven DOT enforcement actions this year against airlines, Internet companies and other travel sellers for failing to include the surcharge, which major airlines began adding nearly two years ago.
October 3, 2001 |
USA Networks Inc. Chief Executive Barry Diller said his media and electronic-commerce company plans to complete its $1.5-billion purchase of online travel service Expedia Inc. even though its bookings have declined. New York-based USA Networks, owner of the Home Shopping Network and USA cable network, agreed in July to buy a 75% stake in Expedia from Microsoft Corp. for stock and warrants.
August 23, 2001 |
USA Networks Inc. is giving Expedia Inc. a two-year option to buy National Leisure Group Inc., another Internet travel company, for the same price USA Networks is paying, according to a Securities and Exchange Commission filing. USA Networks agreed last month to buy a controlling interest in Expedia, which also gets the option to buy a one-third interest in USA Networks' travel channel and the right to advertise on the media company's channels for five years, Expedia said in the filing.