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Travelzoo rethinks search products
Travelzoo is planning to close, merge or replace its search products as part of a review.
It said revenues from SuperSearch and Fly.com have been hit by "challenges in traffic acquisition from search engines and poor monetisation on mobile devices".
"As we are reviewing these products and working on their improvement, we will also put a stronger focus on profitability, which could result in a revenue decline of approximately $1.5 million from SuperSearch versus the prior-year period," said Glen Ceremony, Travelzoo chief financial officer.
SuperSearch was launched in July 2004 and is available across four markets – UK, US, Canada and Australia. A spokeswoman said there is no dedicated team, but in the UK three or four people work on the production side.
Fly.com, launched in February 2009, is available across the US, Canada, UK and Germany. Warren Chang is the vice president, heading a team of seven employees globally.
The review was disclosed as the travel company unveiled its financial results for the fourth quarter to December 31.
Revenue was up 1% year-on-year to $37.5 million and operating income was 3% up to $4.5 million.
Net income was $3.2 million, with earnings per share of $0.21, down from $0.24 in the prior-year period.
"Our Travel products showed continued strength in quarter four, particularly in Europe, which contributed 40% of the company’s profits. These gains were offset by revenue declines in SuperSearch and Fly.com," said Chris Loughlin, chief executive officer.
"We will continue to invest in audience and products to spur future growth. These include our hotel booking platform, which is now in internal testing, as well as features that make it easier for our users to find deals when and where they need them, particularly on their mobile devices."
Travelzoo also announced that its board of directors has authorised the repurchase of up to 500,000 of the company’s outstanding common shares.
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Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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