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Travelport
Travelport Worldwide Ltd. provides distribution, technology, and payment solutions for the travel and tourism industry. It is the smallest, by revenue, of the top three global distribution systems (GDS) after Amadeus IT Group and Sabre Corporation. The company also provides IT services to airlines, such as shopping, ticketing, and departure control. History The company was formed by Cendant in 2001 following its acquisitions of Galileo GDS for $2.9 billion and CheapTickets for $425 million. In 2004, the company acquired Orbitz for $1.25 billion and Flairview Travel for $88 million. In 2005, the company acquired eBookers for $350 million and Gullivers Travel Associates for $1.1 billion. In August 2006, Cendant sold Orbitz and Galileo to The Blackstone Group for $4.3 billion, forming Travelport. In August 2007, Travelport acquired Worldspan for $1.4 billion. In July 2007, the company completed the partial corporate spin-off of Orbitz via an initial public offering. In May 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Worldspan
Worldspan is a provider of travel technology and content and a part of the Travelport GDS business. It offers worldwide electronic distribution of travel information, Internet products and connectivity, and e-commerce capabilities for travel agencies, travel service providers and corporations. Its primary system is commonly known as a Global Distribution System (GDS), which is used by travel agents and travel related websites to book airline tickets, hotel rooms, rental cars, tour packages and associated products. Worldspan also hosts IT services and product solutions for major airlines. Recent events In December, 2006, Travelport, owner of the Galileo CRS, Galileo GDS, Gullivers Travel Associates (GTA) and a controlling share in Orbitz, agreed to acquire Worldspan. However, at the time, management of Travelport did not commit to the eventual merging of the two GDS systems, saying that they were considering all options, including running both systems in parallel. On August 21, 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Blackstone Group
Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who had previously worked together at Lehman Brothers. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than $1 trillion in total assets under management, making it the world's largest alternative investment firm. History Founding and early history Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with (equivalent to $million in ) in Seed money, seed capital. The founders derived their firm's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Galileo GDS
Galileo is a computer reservations system (CRS) owned by Travelport. As of 2000, it had a 26.4% share of worldwide CRS airline bookings. In addition to airline reservations, the Galileo CRS is also used to book train travel, cruises, car rental, and hotel rooms. The system was originally known as Apollo, launched in 1971 by United Airlines as their in-house booking system. In 1976, UA began installing Apollo terminals in travel agent offices. Apollo, and the competing American Airlines system Sabre, quickly took over much of the booking market. In response to possible government intervention due to antitrust concerns, UA spun off the system to become its own company in 1992, Covia. That same year, Covia purchased a competitor, Galileo, which had been created by a consortium of European airlines. They merged operatations under the Galileo name. UA remained major customers for Galileo until 2012, when they introduced a new in-house booking system, SHARES. Galileo was later purchased ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cendant
Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New York City, the majority of its headquarters employees were in Parsippany-Troy Hills, New Jersey. Its last CEO was Henry Silverman. History Founding Hospitality Franchise Systems Inc. (HFS) was created as an affiliate of the Blackstone Group, a private equity firm, as a vehicle to acquire hotel franchises. It was led by Henry Silverman, a Blackstone partner and former CEO of Days Inn. It began in 1990 by buying Howard Johnson's and the U.S. rights to the Ramada brand from Prime Motor Inns for $170 million. In 1992, HFS bought the Days Inn franchise out of bankruptcy for $290 million. This purchase made HFS the largest hotel franchisor in the world, with its brands licensed to 2,300 hotels. Blackstone took Hospitality Franchise System ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Orbitz
Orbitz.com is a travel fare aggregator website and travel metasearch engine. The website is owned by Orbitz Worldwide, Inc., a subsidiary of Expedia Group. It is headquartered in the Citigroup Center, Chicago, Illinois. Background Originally established through a partnership of major airlines, and subsequently owned by various entities, Orbitz.com – the flagship brand of Orbitz Worldwide – has been in operation since 2001. Other Orbitz Worldwide online travel companies include CheapTickets in the Americas; ebookers in Europe; and HotelClub and RatestoGo, based in Sydney. Orbitz Worldwide also owns and operates Orbitz for Business, a corporate travel company. Orbitz was the airline industry's response to the rise of online travel agencies such as Expedia and Travelocity, as well as a solution to lower airline distribution costs. Continental Airlines, Delta Air Lines, Northwest Airlines, and United Airlines, subsequently joined by American Airlines, invested a combin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sabre Corporation
Sabre Corporation, a travel technology company headquartered in Southlake, Texas, is the largest global distribution systems (GDS) provider for air bookings. The company's primary product, the Sabre Global Distribution System, and others like it, act as neutral intermediaries, connecting travel suppliers like airlines and hotels with travel sellers like agencies. They offer real-time availability and pricing, making them important for corporate travel management. Founded by American Airlines in 1960, Sabre was spun off and became an independent company in 2000. In 2007, Texas Pacific Group and Silver Lake Partners acquired Sabre Holdings, the company's former name. Sabre then went public on the NASDAQ stock exchange in 2014. Sabre's primary competitors are Amadeus IT Group, which operates the Amadeus CRS and Travelport, which operates the Galileo GDS. History Early history In 1953, C.R. Smith, the president of American Airlines, met Blair Smith, an IBM salesman, on a fl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CheapTickets
CheapTickets is an online travel services company focusing on the leisure market, offering airline tickets, hotel and vacation rentals, rental cars, customized vacation packages, and cruises. CheapTickets was a wholly owned subsidiary of Orbitz Worldwide, Inc., and with Expedia Inc.'s purchase of Orbitz, it is now a subsidiary of Expedia Group. History CheapTickets was founded in 1986 in Honolulu, Hawaii, by Michael and Sandra Hartley when inter-island carrier Mid Pacific Air gave 3,000 tickets to Hartley's employer at the time, advertising firm Regency Media, as payment for its services at the time Regency closed its Honolulu branch. The tickets were advertised via newspaper classified ads and sold out in two weeks. The company grew into an airline ticket consolidator, acquiring seats from airlines at rates low enough to allow the company to resell them at fares lower than the airline's normal published airfares. It opened its first call center in Honolulu in 1987, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elliott Management Corporation
Elliott Investment Management L.P. is an American investment management firm. It is also one of the largest activist funds in the world. It is the management affiliate of American hedge funds Elliott Associates L.P. and Elliott International Limited. The Elliott Corporation was founded by Paul Singer, who is CEO of the management company, based in New York City. As of the first quarter of 2015, Elliott's portfolio is worth over $8 billion. By 2009, over a third "of Elliott's portfolio was concentrated in distressed securities, typically in the debt of bankrupt or near-bankrupt companies." The firm moved its headquarters from New York City to West Palm Beach, Florida in 2020. Overview Singer created Elliott Associates in January 1977, starting with $1.3 million from friends and family and choosing the Elliott brand as it is his middle name. In its earliest years, the firm focused on convertible arbitrage. Since the 1987 stock market crash and early 1990s recession, however, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Air Transport Association
The International Air Transport Association (IATA ) is an airline trade association founded in 1945. IATA has been described as a cartel since, in addition to setting technical standards for airlines, IATA also organized tariff conferences that served as a forum for price fixing. According to IATA, the trade association represents 317 airlines, including major carriers, from over 120 countries. The IATA's member airlines account for carrying approximately 82% (2020) of total available seat miles air traffic. IATA supports airline activity and helps formulate industry policy and standards. It is headquartered in Montreal, Canada, with executive offices in Geneva, Switzerland. History IATA was formed in April 1945 in Havana, Cuba. It is the successor to the International Air Traffic Association, which was formed in 1919 at The Hague, Netherlands. At its founding, IATA consisted of 57 airlines from 31 countries. Much of IATA's early work was technical and IATA provided input to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NASDAQ
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc. (which the exchange also lists; ticker symbol NDAQ), which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. Although it trades stock of healthcare, financial, media, entertainment, retail, hospitality, and food businesses, it focuses more on technology stocks. The exchange is made up of both American and foreign firms, with China and Israel being the largest foreign sources. History 1972–2000 Nasdaq, Inc. was founded in 1971 by the National Association of Securities Dealers (NASD), which is now known as the Financial Industry Regulatory A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock exchange in the world by market capitalization, exceeding $25 trillion in July 2024. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists (ticker symbol ICE). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext. According to a Gallup, Inc., Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds, or 401(k), retirement accounts. __FORCETOC__ History The earliest recorded organization of Security (finance), securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously, secu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2006 Mergers And Acquisitions
6 (six) is the natural number following 5 and preceding 7. It is a composite number and the smallest perfect number. In mathematics A six-sided polygon is a hexagon, one of the three regular polygons capable of tessellation, tiling the plane. A hexagon also has 6 Edge (geometry), edges as well as 6 internal and external angles. 6 is the second smallest composite number. It is also the first number that is the sum of its proper divisors, making it the smallest perfect number. It is also the only perfect number that doesn't have a digital root of 1. 6 is the first unitary perfect number, since it is the sum of its positive proper unitary divisors, without including itself. Only five such numbers are known to exist. 6 is the largest of the four Harshad number, all-Harshad numbers. 6 is the 2nd superior highly composite number, the 2nd colossally abundant number, the 3rd triangular number, the 4th highly composite number, a pronic number, a congruent number, a harmonic divisor nu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
