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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Elong ADS Representing 2 Ordinary Shares (MM) | NASDAQ:LONG | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 18.00 | 16.94 | 17.95 | 0 | 01:00:00 |
From Jul 2019 to Jul 2024
By Chelsey Dulaney
Expedia Inc. agreed to buy longtime rival Travelocity from Sabre Corp. for $280 million, joining two of the most prominent travel sites as they face pressure from industry newcomers.
Expedia and Travelocity have been working together since 2013, when they entered into a long-term agreement under which Expedia handles most of Travelocity's operations, from running searches to answering customer's questions.
Expedia shares fell about 1% in morning trading.
Expedia, launched in 1996 by a small division within Microsoft Corp, went public in 1999 and has since grown into a travel behemoth with brands such as Hotels.com, Hotwire, eLong Inc. and Trivago.
The deal underscores how crowded the online-travel industry has become.
The legacy players--Expedia, Travelocity, Priceline.com Inc. and Orbitz Worldwide Inc.--known as online travel agencies, have been joined in recent years by websites like Kayak and Hipmunk that also scan the online travel agencies in their searches for travel deals.
Travel websites have responded to the competitiveness by offering discounts and loyalty programs.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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