HONG KONG and NEW YORK, Nov. 7,
2019 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO), a
global publisher of exclusive offers and experiences for
members, provides the market with an update on the progress of
project "Asia Pacific 2020":
- In the first half of 2019, as announced in a press release on
March 18, 2019, a new management team
was installed in Asia
Pacific;
- From June to September 2019,
Travelzoo worked with a top Chinese management consulting firm and
developed together a strategy to gain significant presence for
Travelzoo in China. The consulting
firm interviewed more than 60 industry players and completed a
rigorous review of China market
and Travelzoo's current position in the market. The project
confirmed a very substantial opportunity for Travelzoo to grow its
revenue in China through enriching
content and deals in social media and mobile channels;
- On September 21, 2019,
Travelzoo's board of directors approved the strategic plan
presented by Scott Wang, Head of
Strategy, Asia Pacific and General
Manager, Greater China and the
consulting firm. The board asked for execution to begin
immediately;
- The strategy focuses on developing a significant presence for
Travelzoo in social media and mobile channels in China. China
has the biggest social media community and the highest mobile phone
penetration in the world. This makes China also an ideal market for Travelzoo as a
global company to develop capabilities in utilizing these
channels;
- Travelzoo in China has
expanded its member base from 1.27M
on December 31, 2018, to 1.61M on October 31,
2019, by launching full coverage of deals in social media
channels. We expect revenue from China to grow in the fourth quarter of
2019.
The objective of project Asia
Pacific 2020 is to drive up shareholder value by
implementing a successful strategy to achieve profitable growth in
Asia Pacific. The project has
positioned China as the primary
growth driver for Travelzoo in Asia
Pacific. The project also set the direction to increase
productivity and efficiency for high-cost markets such as
Japan and Australia.
About Travelzoo
Travelzoo® provides our 28 million
members insider deals and one-of-a-kind experiences personally
reviewed by one of our deal experts around the globe. With more
than 25 offices worldwide, we have our finger on the pulse of
outstanding travel, entertainment, and lifestyle experiences. For
over 15 years we have worked in partnership with more than 2,000
top travel suppliers—our long-standing relationships give Travelzoo
members access to irresistible deals.
Certain statements contained in this press release that are not
historical facts may be forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These forward-looking
statements may include, but are not limited to, statements about
our plans, objectives, expectations, prospects and intentions,
markets in which we participate and other statements contained in
this press release that are not historical facts. When used in this
press release, the words "expect", "predict", "project",
"anticipate", "believe", "estimate", "intend", "plan", "seek" and
similar expressions are generally intended to identify
forward-looking statements. Because these forward-looking
statements involve risks and uncertainties, there are important
factors that could cause actual results to differ materially from
those expressed or implied by these forward-looking statements,
including changes in our plans, objectives, expectations, prospects
and intentions and other factors discussed in our filings with the
SEC. We cannot guarantee any future levels of activity, performance
or achievements. Travelzoo undertakes no obligation to update
forward-looking statements to reflect events or circumstances
occurring after the date of this press release.
Travelzoo and Top 20 are registered trademarks of Travelzoo. All
other names are trademarks and/or registered trademarks of their
respective owners.
Travelzoo
Room 3608, AIA Tower
183 Electric Road
Hong Kong 200023
Media contact:
Kelvin Chong – Hong Kong
+852 3127 8077
kchong@travelzoo.com
Christie McConnell – New York
+1 212 484 4967
cmcconnell@travelzoo.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/travelzoo-provides-update-on-project-asia-pacific-2020-300953712.html
SOURCE Travelzoo