Orbitz 2014 Annual Report Download - page 40

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40
Related Party Transactions
For a discussion of certain relationships and related party transactions, see Note 15 - Related Party Transactions of the
Notes to Consolidated Financial Statements.
Seasonality
Our businesses experience seasonal fluctuations in the demand for the products and services we offer. The majority of
our customers book leisure travel rather than business travel. Gross bookings for leisure travel are generally highest in the first
half of the year as customers plan and book their spring and summer vacations. Cash is received upon booking for the majority
of transactions on our website, and net revenue for non-air transactions is generally recognized when the travel takes place and
typically lags bookings by several weeks or longer. As a result, our cash receipts are generally highest in the first half of the
year and our net revenue is typically highest in the second and third quarters. Fluctuations in the travel products our suppliers
make available to us for booking the growth of our international operations or a change in our product mix may also affect our
seasonality.