Orbitz 2008 Annual Report Download - page 9

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On August 23, 2006, Travelport Limited ("Travelport"), which consisted of Cendant's travel distribution services businesses, including the businesses that
currently comprise Orbitz Worldwide, Inc., was acquired by affiliates of The Blackstone Group ("Blackstone") and Technology Crossover Ventures ("TCV").
We refer to this acquisition in this Annual Report on Form 10-K/A as the "Blackstone Acquisition."
Orbitz Worldwide, Inc. was incorporated in Delaware on June 18, 2007 and was formed to be the parent company of the business-to-consumer travel
businesses of Travelport, including Orbitz, ebookers and Travel Acquisition Corporation Pty. Ltd. ("HotelClub," formerly known as Flairview Travel) and the
related subsidiaries and affiliates of those businesses. On July 25, 2007, we completed an initial public offering ("IPO") of 34,000,000 shares of our common
stock. Our common stock trades on the New York Stock Exchange ("NYSE") under the symbol "OWW."
As of December 31, 2007, there were 83,107,909 shares of our common stock outstanding, of which approximately 59% were beneficially owned by
Travelport and its affiliates.
Brand Portfolio
Our brand portfolio is comprised of Orbitz, CheapTickets, the Away Network, Orbitz for Business, ebookers, HotelClub and RatesToGo.
Orbitz
Orbitz.com is one of the leading online travel websites in the U.S. Orbitz is a full-service online travel company that offers customers the ability to book an
array of travel products and services from numerous suppliers on a stand-alone basis or as part of a dynamic vacation package. These travel products and services
include airline tickets, hotel rooms, car rentals, cruises, travel insurance and destination services. Dynamic vacation packages are vacation packages that include
different combinations of travel products. Orbitz allows customers to search based on their preferences and then provides a comprehensive display of travel
choices for any given destination. Search results are presented in our easy-to-use Matrix display that enables customers to select the price and supplier that best
meet their individual travel needs.
In 2006, we re-branded and expanded our innovative customer care platform as OrbitzTLC. OrbitzTLC offers an array of proactive care services, including
OrbitzTLC Alerts and OrbitzTLC Traveler Update. Through OrbitzTLC Alerts, we send customers real-time information regarding flight delays and
cancellations, gate changes or other travel disturbances. Through OrbitzTLC Traveler Update, we combine official data feeds from the Transportation Security
Administration, weather.com and Yahoo!®Maps with tips and real-time insights from an online community of travelers to provide information about security
wait times, traffic and parking, taxi lines and more.
CheapTickets
Our CheapTickets.com website is a leading U.S. travel website that focuses on value-conscious customers. CheapTickets offers the ability to book an array
of travel products on a stand-alone basis or as part of a dynamic vacation package, including airline tickets, hotel rooms, car rentals, cruises, travel insurance and
destination services. CheapTickets also offers value-oriented promotions such as Cheap of the Week and Off-Season Deals. Cheap of the Week utilizes
promotion codes that allow customers to receive further discounts on dynamic vacation packages. Off-Season Deals performs a comprehensive review of pricing
data for hotels available on CheapTickets and issues a quarterly report on when customers can travel to key destinations at the lowest prices.
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Source: Orbitz Worldwide, In, 10-K/A, August 28, 2008