Travelzoo Inc. (NASDAQ: TZOO), a global Internet media company, today announced certain preliminary financial results for the third quarter ended September 30, 2012 and announced that the Company is in negotiations to acquire a hotel booking website.
Travelzoo expects to report revenues in the range of $35.0 million to $35.5 million for the third quarter ended September 30, 2012. Travelzoo expects to report earnings per share of $0.20 to $0.22. Travelzoo intends to announce detailed financial results for the third quarter on Thursday, October 25, 2012.
"We continue to be positive about our long-term growth strategy,” said Chris Loughlin, chief executive officer, “but we have found our hotel search offering and the group-buying voucher model not meeting the needs of hotels and users well enough, and therefore plan to adjust our product offering.” Travelzoo discloses that the Company is in active negotiations to acquire a hotel booking website. “Our hotel commission tests during the third quarter have shown positive results,” said Mr. Loughlin, “so we are excited about adding, or developing, a hotel booking platform to our deals business.”
Travelzoo’s expanded hotel offering will allow Travelzoo subscribers to book deals on any night, at select hotels. Unlike online travel agency (OTA) offerings, Travelzoo intends to limit the selection to those hotels tested and approved by Travelzoo’s Deal Experts.
On July 26, 2012, the Company announced its board of directors has authorized the repurchase of up to 1 million shares of the Company’s outstanding common shares.
Travelzoo Inc. is a global Internet media company. With more than 25 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions, and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.