Cendant TDS' Consumer Travel Americas Unit to Stay in Chicago
Plans to Move to Citigroup Center, 500 W. Madison, in mid-2006
CHICAGO, IL, December 21, 2005 - MB Real Estate and Cendant Travel Distribution Services (TDS), announced today that the entire Consumer Travel Americas business unit, including the Orbitz.com, CheapTickets.com and Lodging.com brands, will relocate its base of operations to 145,000 square feet at Citigroup Center, 500 West Madison Street.
"While other acquisitions have driven business out of Chicago, we're proud that Orbitz will continue to be a leading technology company in this city," said Mitch Truwit, president and CEO, Orbitz. "It was instantly apparent that the Citigroup Center offered the most efficient office space, as well as high quality amenities and conveniences that directly benefit our people and our bottom line."
Currently located on seven noncontiguous floors served by two different elevator banks at 200 South Wacker, Orbitz, and other subsidiaries of Cendant TDS, will occupy the eighth, ninth and tenth floors at Citigroup Center.
The office space will help accommodate and better organize the growth of the Consumer Travel Americas business unit. Since the Orbitz acquisition by Cendant TDS in November 2004, the company has grown through the relocation of employees to Chicago and additional local hires to support a brand portfolio that also includes CheapTickets.com, Away.com, Lodging.com and the Neat Group.
"We continue to recruit and seek out local information technology talent to support our organization," added Truwit. "By building out the physical space in the Citigroup Center to meet our specific needs, we can further position our organization as an attractive employer who appreciates technologists."
"Over 20 buildings were considered in the West Loop for their relocation, including their existing building at 200 South Wacker," stated Tony Karmin, executive vice president of Transwestern Commercial Services' Tenant Representation Group, Orbitz real estate advisor. "Citigroup Center will allow Orbitz and other brands affiliated with Cendant Travel Distribution Services, to efficiently accommodate its existing employee base and allow room for growth."
According to Ann Tomlinson, vice president of leasing with MB Real Estate, Citigroup Center's leasing and management company, "The initial request for proposal anticipated a need for 185,000 rentable square feet. However, preliminary test fits resulted in significant efficiencies, reducing their true space requirement by 25 percent."
John Murphy, MB's executive vice president, added, "Cendant TDS' online travel brands are a terrific addition to Citigroup Center. Their selection, over numerous alternatives, validates our assertion that this redeveloped Class A office tower provides superior economic efficiencies for the tenant and numerous amenities for its employees."
Citigroup Center is a 1.4 million-rentable-square-foot Class A office tower designed by world- renowned architect Helmut Jahn. The recently renovated building's amenities include over 45 shops and restaurants, integrated access to the METRA rail station, adjacency to the Ogilvie Transportation Center, full-service banking and ATM facilities, a messenger center, an executive parking garage, professional concierge and on-site leasing and management.
Orbitz (www.Orbitz.com) is a leading online travel company that enables travelers to search for and purchase a broad array of travel products, including airline tickets, lodging, rental cars, cruises and vacation packages. Since launching its website www.Orbitz.com to the general public in June 2001, Orbitz has become the third largest online travel site based on gross travel bookings. On Orbitz, consumers can search more than 455 airlines, tens of thousands of lodging properties worldwide and 16 car rental companies. J.D. Power and Associates noted that Orbitz.com had the highest customer satisfaction for independent travel web sites - hotels in its 2005 Independent Hotel Web Site StudySM. Study based on responses from 3,668 consumers who booked their hotel reservations through an independent travel Web site.
. Orbitz was acquired by Cendant's Travel Distribution Services division in November 2004 and is part of the Consumer Travel Americas group.
About MB Real Estate
MB Real Estate is responsible for the management and leasing of over 15 million square feet of commercial real estate. As one of the most prominent real estate advisory and service firms in the Midwest and on the East Coast, MB Real Estate offers expertise in real estate development, asset and facilities management, leasing services, investment sales and acquisitions, construction management and corporate advisory services. Additional information is available at
For leasing information, call Ann Tomlinson, 312-258-8908, or John Murphy, 312-258-8901. Additional information is available at www.citigroupcenter.com.
Transwestern Commercial Services specializes in agency leasing, property and facility management, tenant advisory, investment and finance, healthcare advisory, development and research for a broad range of property types including office, industrial, retail and multifamily. The firm oversees the leasing and management of over 600 properties representing more than 100 million square feet and, over the past two years, has leased in excess of 43 million square feet and represented clients in $6.5 billion of investment sales and financing. In addition to numerous consulting projects and construction management assignments, Transwestern has developed more than 50 projects and over 10 million square feet in the last six years. For more information on Transwestern Commercial Services, please visit www.transwestern.net.
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Cendant TDS - Consumer Travel Americas