Breakingviews

Expedia indicates first-class M&A tickets remain

February 12, 2015

The online travel company’s shares jumped after it agreed to buy smaller rival Orbitz for $1.6 bln. Advertised synergies worth $525 mln today amount to twice the premium being paid. Despite evidence of fewer easy pickings, Expedia shows why the deal boom still has some runway.

Rob Cox: Flurry of ski M&A aims to control weather

September 30, 2014

CEOs and corporate financiers revel in the power of the deal. One company, Vail Resorts, is taking the idea to extremes. By acquiring clusters of snowy U.S. retreats in different climates and selling “Epic” season passes, it is trying to smooth bumps caused by Mother Nature.

Priceline’s OpenTable buy is costly appetizer

June 13, 2014

The $64 bln online travel outfit is paying a 46 pct premium – $2.6 bln in cash – to snag the restaurant reservation site. Each helps small businesses and customers find each other. But the tariff only makes sense if Priceline can plug many more of both into OpenTable worldwide.

Chinese sightseers present challenge to the world

October 3, 2012

Half the country’s 1.4 billion inhabitants are expected to travel during this week’s national holiday. A new love for tourism provides a much-needed economic boost. But giant traffic jams and a deadly boat crash in Hong Kong underscore the difficulty of coping with the crowds.

India’s peripatetic middle powers MakeMyTrip IPO

By Reuters Staff
August 2, 2010

Woody Allen once said 80 percent of success comes from just showing up. In that regard, MakeMyTrip has shown up in the right place. The company commands half of Web travel-agency bookings in India, where a rising middle class is increasingly on the go. Moreover, MakeMyTrip is growing faster than the market. Though its $70 million U.S. IPO doesn't come cheap, it should put buyers on the runway to gains.

Travel tech IPO charts familiar round trip

January 28, 2014

Seven years after taking airline reservations operator Sabre private for $5 bln, TPG and Silver Lake are making the return journey to public markets. It’s one of many big buyouts that should land safely despite a badly timed takeoff. The tardiness will cost investors, though.