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| In ], Sabre negotiated a merger of Travelocity with another early web travel company, Preview Travel. The resulting company was independently quoted on the ] exchange, with Sabre continuing to own around 70% of the combined company's stock. In ], with Travelocity's fortunes suffering from competition including ] and ], Sabre bought all of the outstanding shares in Travelocity and remerged the business into Sabre as a subsidiary. Jones left the company shortly afterward. | In ], Sabre negotiated a merger of Travelocity with another early web travel company, Preview Travel. The resulting company was independently quoted on the ] exchange, with Sabre continuing to own around 70% of the combined company's stock. In ], with Travelocity's fortunes suffering from competition including ] and ], Sabre bought all of the outstanding shares in Travelocity and remerged the business into Sabre as a subsidiary. Jones left the company shortly afterward. | ||
| In March 2002, Travelocity acquired Site59.com, a New York based travel website specializing in last-minute travel packages, for $43 million in cash. Site59.com, which launched in May 2000 was developed and backed by iFormation Group, a partnership between the Boston Consulting Group, Goldman Sachs Group Inc. and General Atlantic Partners. Site59’s CEO and founder, Michelle Peluso joined Travelocity in April 2002 as senior vice president, product strategy and distribution. Peluso became Travelocity’s COO in April 2003 and was then named president and chief executive officer of Travelocity in December 2003 when former CEO Sam Gilliland ascended to become the CEO of Sabre after William J. Hannigan departed from that post to become President of AT&T. | In March 2002, Travelocity acquired ], a New York based travel website specializing in last-minute travel packages, for $43 million in cash. Site59.com, which launched in May 2000 was developed and backed by iFormation Group, a partnership between the Boston Consulting Group, Goldman Sachs Group Inc. and General Atlantic Partners. Site59’s CEO and founder, ] joined Travelocity in April 2002 as senior vice president, product strategy and distribution. Peluso became Travelocity’s COO in April 2003 and was then named president and chief executive officer of Travelocity in December 2003 when former CEO Sam Gilliland ascended to become the CEO of Sabre after William J. Hannigan departed from that post to become President of AT&T. | ||
| Under Peluso’s tenure, Travelocity developed and launched a merchant hotel business, dynamic packaging functionality, and an ASP distribution network. By the end of 2004, many members of Peluso’s former management team at Site59 had taken on senior management positions at Travelocity, namely Jeffrey Glueck (Chief Marketing Officer), Damon Tassone (President, Travelocity Europe), Tracey Weber (Senior Vice President Air, Car and Last Minute Deals), Richard Harris (Vice President, Strategy and Business Development), and Josh Feuerstein (Vice President, Hotels). | Under Peluso’s tenure, Travelocity developed and launched a merchant hotel business, dynamic packaging functionality, and an ASP distribution network. By the end of 2004, many members of Peluso’s former management team at Site59 had taken on senior management positions at Travelocity, namely Jeffrey Glueck (Chief Marketing Officer), Damon Tassone (President, Travelocity Europe), Tracey Weber (Senior Vice President Air, Car and Last Minute Deals), Richard Harris (Vice President, Strategy and Business Development), and Josh Feuerstein (Vice President, Hotels). | ||
Revision as of 04:49, 16 March 2005
Travelocity is an online travel agency operated by Travelocity.com LP. Travelocity was created in 1996 as a subsidiary of Sabre Holdings, and run by long-time Sabre I.T. executive Terrell B. "Terry" Jones.
According to Sabre, Travelocity is the sixth-largest travel agency in the United States. In addition to its primary US consumer site, Travelocity operates a business portal and comparable websites in Canada, Germany, France, the Scandinavian countries, and the United Kingdom, and is a partner in Asian travel hubs Tabini and Zuji. Other brands include Site59.com, a last-minute travel technology and content provider, and World Choice Travel, a travel affiliate marketing program.
As one of the pioneers of web-based disintermediation, Travelocity.com was the first website that allowed consumers themselves (acting without the help of a travel agent or broker) not only to access Sabre's fare and schedule information, but also to reserve, book, and purchase tickets. In addition to airfares, the site also permits consumers to book hotel rooms, rental cars, cruises, and packaged vacations.
In 2000, Sabre negotiated a merger of Travelocity with another early web travel company, Preview Travel. The resulting company was independently quoted on the NASDAQ exchange, with Sabre continuing to own around 70% of the combined company's stock. In 2002, with Travelocity's fortunes suffering from competition including Expedia and Orbitz, Sabre bought all of the outstanding shares in Travelocity and remerged the business into Sabre as a subsidiary. Jones left the company shortly afterward.
In March 2002, Travelocity acquired Site59.com, a New York based travel website specializing in last-minute travel packages, for $43 million in cash. Site59.com, which launched in May 2000 was developed and backed by iFormation Group, a partnership between the Boston Consulting Group, Goldman Sachs Group Inc. and General Atlantic Partners. Site59’s CEO and founder, Michelle Peluso joined Travelocity in April 2002 as senior vice president, product strategy and distribution. Peluso became Travelocity’s COO in April 2003 and was then named president and chief executive officer of Travelocity in December 2003 when former CEO Sam Gilliland ascended to become the CEO of Sabre after William J. Hannigan departed from that post to become President of AT&T.
Under Peluso’s tenure, Travelocity developed and launched a merchant hotel business, dynamic packaging functionality, and an ASP distribution network. By the end of 2004, many members of Peluso’s former management team at Site59 had taken on senior management positions at Travelocity, namely Jeffrey Glueck (Chief Marketing Officer), Damon Tassone (President, Travelocity Europe), Tracey Weber (Senior Vice President Air, Car and Last Minute Deals), Richard Harris (Vice President, Strategy and Business Development), and Josh Feuerstein (Vice President, Hotels).
Travelocity's web-marketing efforts have been the subject of criticism, with some users annoyed by Travelocity's use of popup windows in their advertising.