Thu, Feb. 12, 1:35 PM
- Liberty TripAdvisor (LTRPA +27.7%), a holding company containing a 22% stake in TripAdvisor (and 57% of the company's voting rights), has naturally joined TripAdvisor's regular shares in soaring after the travel reviews/search site posted mixed Q4 results and offered above-consensus 2015 guidance amid a backdrop of low expectations.
- Travelzoo (TZOO +8%), meanwhile, appears to be getting a lift from both TripAdvisor's numbers and Expedia's $1.6B deal to acquire Orbitz. The travel deals provider is less than a month removed from plunging to new 6-year lows on account of a Q4 miss.
Thu, Jan. 22, 12:45 PM
Thu, Jan. 22, 10:12 AM
- Travelzoo (TZOO -14.4%) is below $10 for the first time since 2009 after missing revenue estimates for the fourth quarter in a row, and EPS estimates for the second. The travel deals provider states "investment in products and audience" pressured its bottom line during Q4.
- North American revenue fell 18% Y/Y to $21.1M, and European revenue 12% to $10.4M. Members were flat Q/Q and rose 4% Y/Y to 24.2M.
- While revenue fell 16%, G&A spend rose 2% to $11.3M, and sales/marketing spend only fell 4% to $16.6M. The cash balance stood at $54.8M (equal to 38% of Travelzoo's market cap) at quarter's end.
- Q4 results, PR
Oct. 16, 2014, 12:45 PM
Apr. 11, 2014, 2:29 PM
- Aided by a big tech selloff, Travelzoo (TZOO -3.6%) has fallen nearly 10% since announcing this week local deals chief Mark Webb is leaving at month's end, and that ex-Yahoo exec David White has been hired to run the company's travel search ops.
- Travelzoo says the changes are due to "continued weakness in the company's local voucher sales and declining search revenues." Shares are close to a 52-week low of $19.16.
Jan. 8, 2014, 3:05 PM
- Travelzoo (TZOO -9%) shares plunge after the company warns that it expects to see a Y/Y decline in Search revenue (19.7% of total sales in Q3) of ~25% in Q4 as users migrate to search via mobile.
- In an attempt to stem the bleeding, the company has appointed Eddie Garcia VP of Product Development. He is tasked with monetizing search on Travelzoo's mobile platform. Garcia formerly acted as Director of Marketplace Business Incubation at eBay.
Nov. 5, 2013, 2:08 PM
- In addition to missing Q3 EPS estimates (while slightly beating on revenue), Orbitz (OWW -18.1%) is now guiding for 2013 revenue of $840M and adjusted EBITDA growth of 9%-10%. The former is below an $849.4M consensus, and the latter suggests adjusted EBITDA growth is set to reverse course in Q4 after growing at an 18% clip over the first nine months of 2013.
- Orbitz's gross bookings rose 5% Y/Y in Q3, slightly better than Q2's 4% clip. Net revenue margin (the ratio of revenue to bookings) was 8%, +50 bps Y/Y. But free cash flow (tends to be lumpy) was -$39.6M vs. $20.2M in Q2 and -$13M a year ago.
- Standalone air revenue -4% Y/Y, standalone hotel rooms +36%, vacation packages +12%, ads/media -4%, everything else -2%. Gross margin rose 160 bps Y/Y to 82.3%, but SG&A grew to make up 30.6% of revenue (+180 bps), and marketing spend totaled 33.3% of revenue (+170 bps). Online travel firms large and small have been spending aggressively on search keywords.
- Domestic revenue (72% of total) +12% Y/Y, international +9%.
- Expedia (EXPE -1.1%) and Travelzoo (TZOO -1.8%), both of whom also have strong U.S. exposure, are off moderately. Today's Orbitz plunge contrasts sharply with the huge gains the company saw following its Q2 report.
Oct. 17, 2013, 12:57 PM
Oct. 14, 2013, 10:45 AM
- Deutsche's Ross Sandler, who has downgraded Expedia (EXPE -7.8%) to Hold, says checks indicate the company is "facing much more intense competition in the U.S. market." He's also worried about Expedia's decision to shake up Hotels.com's management.
- Expedia crashed in July after missing Q2 estimates and more or less admitting it lost share during the quarter to Priceline (PCLN -1.1%). In August, Deutsche reported its checks suggested Expedia is taking back lost share.
- Priceline and other online travel peers are off moderately. TRIP -1%. TZOO -2.1%. OWW -2.9%.
Jul. 26, 2013, 8:10 AM
Jul. 24, 2013, 5:21 PM
May. 10, 2013, 2:21 PM"Priceline (PCLN +3.8%) is benefiting from stability in its core European market and continues to gain share in global hotel bookings," writes Cantor, providing an upbeat take on the Q1 report that's echoed by many on the sell-side. Though not pleased with Priceline's light Q2 guidance, the firm sees it as understandable in light of macro, an early Easter, and ad spending needs. But Deutsche is worried margins are at risk thanks to ad spend, and a mix shift to lower-margin regions and paid channels (i.e. Google). Though Priceline is rallying, Expedia (EXPE +5.3%) and Travelzoo (TZOO +6.6%) are faring even better. (transcript) (previous) | Comment!
Apr. 18, 2013, 9:10 AM
Apr. 18, 2013, 8:19 AM
Apr. 10, 2013, 1:44 PMOnline travel stocks are rallying with more investors jumping on board as both fundamental and technical factors for the sector start to look more promising. In the group, TripAdvisor (TRIP +2.6%) has the business model most leveraged to online advertising rates while Priceline (PCLN +2.8%) has been tagged as "best in breed." Growth opportunities in new markets is the headline story for sector stalwarts Expedia (EXPE +2.5%), Kayak (KYAK +1.3%), Orbitz Worldwide (OWW +8.4%), and Travelzoo (TZOO +2.5%). | Comment!
Jan. 24, 2013, 12:45 PM
TZOO vs. ETF Alternatives
Travelzoo Inc. is an Internet media company, which informs over 27 million subscribers, as well as millions of Web site users, about the travel and entertainment deals available from thousands of Companies.
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