Expedia buys rival travel operator Orbitz for $1.6b

New York: US online travel operator Expedia announced plans Thursday to buy rival Orbitz Worldwide for about $1.6 billion (Dh5.9 billion), in a move that further consolidates the sector. Expedia will pay $12 in cash for each Orbitz share, in the takeover approved by the companies’ boards of directors. The deal includes the Orbitz online booking site as well as brands such as CheapTickets, ebookers and HotelClub.

“We are attracted to the Orbitz Worldwide business because of its strong brands and impressive team,” said Dara Khosrowshahi, Expedia’s president and chief executive.