Recognized For Its Innovative Approach
to Reducing Companies' Corporate Travel Costs
CHICAGO, October 5, 2004 - Orbitz for Business has received the Chicago Innovation Award for its leadership in launching the industry's first online travel management company, it was announced today by the Chicago Sun-Times. The award will be presented October 7 at the annual awards ceremony held at the Illinois Institute of Technology.
Chosen from a field of more than 100 Chicago companies, Orbitz for Business was honored for an innovative business model that helps companies save money and better serve the needs of business travelers.
The Chicago Innovation Awards were established by the Chicago Sun-Times and Kuczmarski & Associates, a leading management consulting firm. The awards recognize the most significant innovations developed by Chicago-area companies that have introduced products and services that uniquely fill unmet needs, generate a competitive response in the marketplace, exceed market expectations and achieve financial success.
"In just two years, Orbitz for Business has fundamentally changed the corporate travel landscape and demonstrated that innovation drives their success," said Dan Miller, business editor of the Chicago Sun-Times and co-founder of the Chicago Innovation Awards.
"Innovation is at the core of our business," said Steve Tracas, president of Orbitz for Business. "By combining the user-friendly features of our well-known Orbitz consumer brand with an array of smart features aimed at the special needs of business travelers, Orbitz for Business offers companies a more cost-effective way to manage travel."
"We're proud to have led the industry in launching a simple pricing model that helps companies reduce travel budgets by up to 20 percent while providing a full complement of services, from policy management to data reporting to 24/7 customer care," said David Cerino, general manager of Orbitz for Business. "Orbitz' technology enables us to provide an unparalleled level of service through unique features, such as our proactive Care Alerts that keep business travelers abreast of itinerary changes when they're on the road."
Orbitz for Business' growing list of 1,200 customers includes McDonald's, Ace Hardware, Knight-Ridder, Dresser and Sybase. For more information about Orbitz for Business, visit www.orbitz.com/business.
Orbitz 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 to the general public in June 2001, Orbitz has become the third largest online travel site based on gross travel bookings. On www.orbitz.com, consumers can search more than 455 airlines, as well as rates at tens of thousands of lodging properties worldwide and at 22 car rental companies. For more information on the company, visit www.orbitz.com.
Statements in this press release regarding Orbitz that are not historical facts are forward-looking statements and are subject to risks, assumptions and uncertainties that could cause such statements to differ materially from actual future events or results. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The following factors, among others, could cause Orbitz' actual results to differ materially from those described in a forward-looking statement: Orbitz' ability to retain and attract customers on a cost-effective basis; increasing competition from existing or new competitors; relationships with Orbitz' controlling stockholders and with other travel suppliers; limitations that could affect the expansion of our Supplier Link business; risks relating to our ability to expand our business generally; specific risks that could affect our ability to achieve growth plans for portions of our business, such as hotels; rapid technological change affecting our industry; technical and operational issues, such as journey control restrictions, that result from changes in travel suppliers' distribution methodologies that could affect our results; risks associated with litigation or government regulation; declines, disruptions or events affecting the travel industry; potential fluctuations in our quarterly and annual results. This list is intended to identify only certain of the principal factors that could cause actual results to differ. Readers are referred to the reports and documents filed from time to time by Orbitz with the Securities and Exchange Commission for a discussion of these and other important risk factors. Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this press release. Orbitz undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason.