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Penny-pinching consumers and fierce price wars are bad news for the travel industry. Bad, that is, for everyone except the booming online travel giants. Consider the sharp rebound of such online players as Travelocity and Expedia. While they suffered in the wake of the September 11 terrorist attacks, with bookings off as much as 70%0 in the weeks that followed, business has snapped back. "The speed with which those businesses bounced back surprised even the people most bullish about the sector," says Mitchell J. Rubin, a money manager at New York-based Baron Capital, an investor in online travel stocks.
The travel industry’s pain is often the online industry’s gain, as suppliers push more discounted airline seats and hotel rooms to win back customers. And many of those deals are available only online. At the same time, online agencies rely primarily on leisure travelers, where traffic has rebounded more quickly than on the busin
A. skeptical.
B. doubtful.
C. optimistic.
D. shocked.
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