Travelport's network and efficient scale advantages are intact with new agency wins.
We are encouraged by technology upgrades that narrow-moat Travelport is making to its GDS platform (95% of sales), which are leading to online travel agency wins and volume improvement. That said, a higher OTA mix appears to be driving higher cost of goods sold, as this channel typically receives higher incentive fees from distribution providers like Travelport due to its consolidation prowess. Also, given that OTAs only source airline content (not hotel) from GDS operators, the mix shift could ...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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