SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Aug 10, 2012) - The global economic slowdown has resulted in a lower demand for travel in 2012. Shares of online travel companies fell Wednesday after Orbitz Worldwide and Priceline.com in their recent earnings lowered their 2012 earnings and revenue expectations citing weakness in the European markets. Five Star Equities examines the outlook for companies in the Online Travel Industry and provides equity research on Expedia Inc. (NASDAQ: EXPE) and TripAdvisor Inc. (NASDAQ: TRIP).
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The International Air Transport Association (IATA) recently reported that global airline traffic increased 6.2 percent year-over-year in June, but warned of slowing demand going forward.
"The uncertainty that we see in the global economic situation is being reflected in air transport's performance. Although there are some pockets of solid performance, it is difficult to detect a strong trend -- positive or negative -- at the global level. Passenger markets have been growing more slowly since the beginning of the year and freight markets gains have been mostly very weak. The net effect is a demand limbo as consumers and businesses hedge their spending while awaiting clarity on the European economic front," said IATA Director General and CEO Tony Tyler.
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Expedia, the largest online travel company in the world, last month reported second quarter profit declined 25 percent, but easily beat expectations. Expedia reported a 16 percent increase in their hotel bookings business, and an 8 percent decline in their airline-ticket revenue.
TripAdvisor is the world's largest travel site, enabling travelers to plan and have the perfect trip. TripAdvisor offers trusted advice from real travelers and a wide variety of travel choices and planning features with seamless links to booking tools. The company last month reported revenues that fell short of analysts' expectations.
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