LOS ANGELES (Reuters) - A softer U.S. economy has created pockets of weakness in leisure travel, causing hotels to lean more heavily on Internet travel sites to book their rooms, the chief executive of Orbitz Worldwide (OWW.N: Quote, Profile, Research, Stock Buzz) said on Monday.
Speaking at the Reuters Travel and Leisure Summit in Los Angeles, Steve Barnhart said online travel agencies must be increasingly creative to move unsold inventory for hotels.
"As we look at the U.S. markets, we do see specific pockets where we see suppliers asking for more assistance than they were before, in terms of moving inventories, which certainly indicates there is some softness there," Barnhart said.
"But overall we've seen no dramatic change in trajectory in the businesses as we've moved over the last four, five months," he said. "We don't see any dramatic deceleration that causes real concern."
Orbitz has seen its stock price fall more than 50 percent since its initial public offering last July. Barnhart said the company intends to address that issue by distinguishing itself from its top competitors, which include Expedia Inc (EXPE.O: Quote, Profile, Research, Stock Buzz) and Priceline.com (PCLN.O: Quote, Profile, Research, Stock Buzz), through customer service initiatives.
The company also plans to continue its expansion into budding European markets where bookings growth outpaces gains in the United States.
Shares of Orbitz closed up 25 cents at $6.66 on the New York Stock Exchange.
(For summit blog: summitnotebook.reuters.com/)
(Reporting by Kyle Peterson; editing by Richard Chang)
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