life traveler

Travelzoo: Misunderstood and Undervalued High-ROIC Business

I don't get it?
Travelzoo is based on advertising. You can not book on their site. So they don't make money by bookings. As travel is down, marketing dollars at hospitality companies is less. Those running the marketing departments who hold the advertising purse strings are less likely to buy space on Travelzoo because they are just buying a mailing.