|
|
Article: Fort Worth, Texas-Based Travelocity Purchases Last-Minute Provider.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 27, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Trebor Banstetter, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Mar. 27--FORT WORTH, Texas--Online travel provider Travelocity has bought Site59.com -- which obtains last-minute, low-cost airline tickets, rental cars and hotel rooms -- for $43 million.
Fort Worth-based Travelocity hopes the acquisition will broaden its focus into so-called merchant travel pricing. Under the merchant model, companies like Site59 buy cheap, last-minute fares and hotel rooms and set their own profit margin by marking up the price to consumers.
Site59's relationships with hotels and other travel properties will allow Travelocity to better ...