Global slowdown in travel likely to be worse than expected
November 05, 2008 | Online Travel
Analysts continue to highlight that the online travel booking business is not going to survive an economic downturn unscathed, writes EyeForTravel.
s Expedia Inc. reported a 4.8 percent drop in quarterly net profit, a report shared that there has been a “scurrying to revalue the online travel stocks”.
“Expedia observed on its post-earnings conference call that the softness the company had been seeing in the US and the UK earlier in the year has now extended to “nearly all” geographies and all key product areas, including air, hotels and car rentals. The company indicated that transactions dropped off during the week Lehman went bankrupt, and have not rebounded much since,” reported blogs.barrons.com. “This morning (October 31), several analysts cut ratings on the stock.”
Get the full story at EyeForTravel
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