Word: orbitz
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Dates: during 2000-2009
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...paychecks remained large enough to attract criticism though, and even as Silverman steered Cendant to a profit peak of $2 billion in 2004, investors were unimpressed. So he heeded their grumbling and broke up the company. The hotels became Wyndham Worldwide, rental cars the Avis Budget Group, travel distribution (Orbitz, Galileo) Travelport, and real estate Realogy. Blackstone bought Travelport last year, and now Realogy belongs to Apollo...
Since Peluso, 33, became CEO of online travel firm Travelocity in December 2003, her most visible achievement may be its irreverent ad campaign featuring the Roaming Gnomean abducted lawn fixture from North Carolina with a conical red hat. In the real world, despite competition from Expedia and Orbitz , the Sabre subsidiary has also proved unforgettable, posting $4.9 billion in travel bookings for 2004 and $500 million in revenue. Next on her itinerary: Travelocity Europe and two joint ventures, Singapore's Zuji and Japan's Tabini...
...president of Orbitz.com Sands, 37, is taking the Chicago-based travel website global. The marketing exec was tapped for the top job when travel and real estate services giant Cendant bought Orbitz late last year. His first international step will be letting customers use foreign credit cards to book online, especially Europeans eager to travel to the U.S. because of the weak dollar. Sands also plans to roll out foreign-language sites and use Cendant's long-standing relationships with hotels and time shares overseas to give Americans more options. --By Barbara Kiviat
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...
...year, but the online component is taking share swiftly and growing more than 20% a year. This year 1 in 3 U.S. travelers will book online, up from 15% in 2002 and 20% last year, says research firm PhoCusWright. "Henry (Silverman) was at a big disadvantage" before the Orbitz deal, says Larry Haverty, managing director at State Street Research. Now he not only can share in the industry's robust growth but also use Orbitz to promote and protect his franchises...