Orbitz exploring sale, draws interest from private equity firms – Bloomberg

(Reuters) – Online travel agency Orbitz Worldwide Inc (OWW.N) is exploring a sale and has drawn interest from private equity firms and other internet companies, Bloomberg reported, citing people with knowledge of the matter.

The operator of the Orbitz and CheapTickets websites is working with a financial adviser as it reaches out to potential buyers, Bloomberg said.

Shares of Orbitz, which had a market capitalization of about $1 billion as of Friday, jumped as much as 15 percent to $10.52 on Tuesday on the New York Stock Exchange.

Orbitz declined to comment when asked about the potential sale.

The company and its rivals such as Expedia Inc (EXPE.O) and Priceline Group Inc (PCLN.O) have stepped up marketing in the past year as competition intensifies in the travel industry.

Orbitz had in early November cut its fiscal 2014 revenue forecast, saying the strong U.S. dollar would weigh on its international business.

Competitors such as hotel and airline booking website Priceline have been stepping up investments in international markets.