Orbitz Worldwide has reported disappointing first quarter results with a 1% net revenue loss year on year.
The company, which released its results today, reported a net loss of $10.9 million – more than double their net loss for the same period last year.
“We’re not satisfied with our overall Q1 results; performance across our individual businesses in the quarter was mixed. While ebookers and our private label distribution channel delivered strong performance, our US consumer business under performed,” said Barney Harford, CEO of Orbitz Worldwide.
“We are optimistic about the strategic investments we’re making. We have seen substantial returns on our technology and marketing investments with ebookers, and we feel positive about the benefits the global platform will bring to HotelClub, Orbitz and our other consumer brands as we complete our migration work.”
However, Orbitz Worldwide saw a year-on-year increase of 2% in global gross bookings, due in part to higher volumes for ebookers and Orbitz for Business as well as higher airfares and average daily rates.
Orbitz Worldwide attributes its net losses to a decline in vacation package revenue and a lower-than-expected conrtibution from the company’s airline hosting business.