Cendant sells Travelport for $4.3 bn

3rd Jul 2006

Cendant Corporation is selling Travelport to an affiliate of The
Blackstone Group for approximately $4.3 billion.
  “As a private company, Travelport will now have considerably greater
financial latitude and firepower to take advantage of burgeoning
opportunities in the travel market,” said Jeff Clarke, Travelport’s
president and CEO. “Our unmatched global reach and local expertise,
together with our strong management team and unique portfolio of assets, is
a great combination for future success in the flourishing travel space.”
  “I believe Travelport is poised to become the most relevant global
brand in the travel industry,” said Gordon Bethune, Travelport’s Chairman.
“Whether you’re a traveler, travel professional or travel supplier,
Travelport will offer more ways for its customers to create and enjoy
exceptional travel experiences.”
Travelport has also unveiled its dynamic new logo/brand identity,
which not only symbolizes the three key elements of travel-earth, sea and
sky, but also embodies the continuous integration of the Company’s core
businesses- Orbitz, Galileo and GTA; moving together in a forward motion.
  “There has been a lot of excitement and anticipation around the
development of our new logo,” Clarke said. “But we’re also cognizant that a
brand isn’t just about a logo or a visual identity - its about defining who
we are, what we stand for, our values and culture, and the value we deliver
to our customers. I believe that in time, what will differentiate
Travelport from its competitors will be a refreshing, unmatched brand
proposition based on global expertise, extraordinary value and innovative
customer service.”


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