Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

U.S. airlines, hotel industry wary of Expedia-Orbitz merger

Published 14/02/2015, 00:49
© Reuters.  U.S. airlines, hotel industry wary of Expedia-Orbitz merger
GOOGL
-
EXPE
-

By Jeffrey Dastin

(Reuters) - The U.S. airline industry expressed concerns on Friday about the tentative merger of Expedia Inc (NASDAQ:EXPE.O) and Orbitz Worldwide Inc, saying it could hurt the travel business, but hinted it would not lobby actively against the deal.

Expedia's agreement on Thursday to buy Orbitz for $1.33 billion (863 million pounds) marked the latest in a spree of acquisitions it and the larger Priceline Group Inc have made to become the world's dominant online travel agencies.

Experts say the companies' followings give them power when negotiating contracts with hotels and airlines, which to varying degrees rely on the sites to sell their products. Combined with Orbitz and Travelocity, which it acquired in January, Expedia received about 39 million unique website visitors in December 2014, according to Internet analytics company comScore Inc.

These mergers "strengthen Expedia's position in the distribution chain and could have implications for consumers, travel agents and airlines," Melanie Hinton, spokeswoman for the trade group Airlines for America, said on Friday in an email.

"We would expect the Department of Transportation and the Department of Justice to carefully examine these transactions and their impact on consumers and competition."

When asked whether the trade group would take action to oppose the merger, Hinton repeated that regulators would review the deal thoroughly.

The President of the American Hotel and Lodging Association, Katherine Lugar, also said in a statement that the merger "appears to be counter to the goal of creating more consumer choice."

Expedia has downplayed concerns that consolidation would drive up prices, saying there are more deals for consumers now that companies such as Google Inc (NASDAQ:GOOGL.O), as well as individual airline and hotel sites, are competing.

Three antitrust experts also told Reuters on Thursday that they expect government to approve the deal because the bookings market has no barrier to new entries.

"The airlines are not at all happy, nor are hotels, about yesterday's announcement," said Henry Harteveldt, a founder of the travel-focused Atmosphere Research Group.

"As these companies grow, they're able to negotiate larger and larger rebates," he added, referring to the amounts that bookings sites extract from fare distribution companies.

Also discussed in contract talks are transaction fees airlines are charged and commissions that online travel agencies take for hotel sales. Expedia has given no indication it would raise rates on businesses.

Harteveldt added that major U.S. carriers retain some leverage because travel agencies rely on their flights for listings.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.