Company Achieves No. 7 Position in Less Than Three Years
Chicago, July 7, 2004 - Orbitz, Inc. (Nasdaq: ORBZ) became the seventh largest travel seller in the United States in 2003, according to the rankings of online and offline travel agencies recently published by Travel Weekly magazine. Orbitz rose to No. 7 on the 2003 list from No. 9 on the 2002 list, based on gross travel bookings.
"It is gratifying that our company reached this milestone so quickly," said Jeff Katz, president and chief executive officer of Orbitz. "Orbitz' 2003 gross travel bookings of $3.4 billion were achieved less than three years after we launched our website. Our rapid growth is a testament to the value we provide to leisure and business travelers. This value includes our comprehensive display of fares and rates, innovative technology, easy-to-use search tools, a consumer-friendly website, expansive customer care program and extensive supplier relationships."
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 over 65,000 lodging properties and at 23 car rental companies. Orbitz, Inc. became a publicly traded company on Dec. 17, 2003, when its shares were listed on the Nasdaq National Market under the ticker symbol ORBZ. 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; 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.