Orbitz files for IPO
May 11, 2007: Private-equity firm Blackstone Group is taking Orbitz Worldwide Inc. public less than a year after it acquired the online travel company through its $4.3 billion (€3.18 billion) acquisition of Travelport.
Orbitz filed paperwork Thursday with the Securities and Exchange Commission to sell as much as $750 million (€554.5 million) of stock to investors.
One of the largest online travel companies in the world, Orbitz operates a suite of consumer Web sites, including Orbitz, CheapTickets, ebookers, HotelClub, RatesToGo and the Away Network.
Its corporate travel brands include Orbitz for Business and Travelport for Business. Orbitz brokers air tickets, hotel rooms, vacation packages, car rentals and cruises.
Together, the company’s U.S. brands have nearly 48 million registered users and more than 25 million unique visitors each month, Orbitz said in its prospectus. The company generated about $10 billion in gross bookings last year, including $8.7 billion in the U.S.