Expedia snaps up competitor Orbitz for $US1.6 billion

Online travel booking giant Expedia has announced it will acquire competitor Orbitz for $US1.6 billion ($2.06 billion).

The acquisition follows Expedia’s purchase of Travelocity last month for $US280 million and Australian travel booking startup Wotif for $700 million in July last year.

Expedia will acquire all of Orbitz’s brands including Orbtiz, ebookers, HotelClub and Cheap Tickets.

Expedia president and chief executive officer Dana Khosrowshahi said in a statement the company was attracted to Orbitz because of its strong brands and impressive team.

“This acquisition will allow us to deliver best-in-class experiences to an even wider set of travellers all over the world,” he said.

“From the flagship Orbitz.com brand, to other well-known consumer brands such as CheapTickets, ebookers, and HotelClub and the business-to-business brands Orbitz Partner Network and Orbtiz for Business, the Orbitz Worldwide team has built a devoted customer base and we look forward to welcoming them to the Expedia, Inc. family.”