Word: cendant
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...websites, and the N.A.R. puts up 95% of all listings in the country on its Realtor.com Yet the industry has a keen interest in freezing out discounters and Web-based firms, which would like to put those listings on their own websites and offer them at discount commission rates. Cendant, which owns franchise rights to Century 21, Coldwell Banker and ERA--and is the industry heavyweight--submitted a paper to the real estate-industry trade group in 2003, warning that Web-based firms "present the potential to undermine the profitability of real estate brokerage firms and increase costs to consumers...
...Hertz, with about 1,300 nonairport locations, is expanding the number of its neighborhood locales about 25% a year and projects that by the end of next year, annual sales will hit $1 billion, or about 12% of the local market. Feeling the same industry pressures, Avis, owned by Cendant, is also making a suburban push; it plans to add 500 shops over the next three years...
Even after the Orbitz purchase, Cendant is largely a bricks-and-mortar company. The $18 billion behemoth owns Avis and Budget in addition to its real estate and hotel brands, markets time-share properties and organizes information for travel agents, and has a corporate-relocation operation. Prior to the Orbitz deal, it had only a laggard online travel presence with CheapTickets.com and Lodging.com Its main business by far is collecting franchise fees. Pre-Orbitz, online travel produced less than $200 million in revenue, or 2% of Cendant's $10 billion travel segment. Last week Cendant said it would divest...
...anyway. But Diller's firm owns LendingTree, which is wedging into the residential real estate market dominated by Century 21, Coldwell Banker and ERA, all Cendant brands. LendingTree is a fledgling player, generating $160 million in revenue last year compared with Cendant's $6.7 billion from real estate businesses. But that could become a battlefront down the road. Already, 70% of home buyers begin their search online. This year, for the first time, online listings will generate more home-buyer leads than classifieds...
...expensive. "They will compete intelligently," says Haverty. "Price cutting is not how you get Wall Street to give you" a higher stock price. IAC shares have lagged as investors at first puzzled over Diller's plan and then were disappointed with financial results that fell short of big expectations. Cendant has performed better. But some investors haven't forgotten a disastrous acquisition and accounting scandal six years...