More evidence that the flash sales business model is not working in travel – or anywhere for that matter (see Groupon) – with news that that Gilt Group Inc is trying to sell its travel unit, Jetsetter, for a reported $US100m. “But so far there hasn’t been much interest,” says the Wall Street Journal. The news follows a series of flash failures in the Australian travel market. The WSJ claims Jetsetter is losing US$2m a year. See full story.
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