From the Bloomberg article (linked above):
LodgeNet hasn’t posted an annual profit since 2006. Last year, 95 percent of its revenue came from the hotel industry, with Hilton Worldwide and Marriott International Inc. accounting for about a third of sales, according to the company’s filings.
Go figure. When your business model involves what many would call fleecing – charging exorbitantly high prices for things that should be much cheaper… or free – you go out of business!
Personally, given their apparent unawareness of the internet, Google, NetFlix, Hulu and tvguide.com, I can’t say I’m surprised at all. I hope this shakes them up a bit and they take a look at where they can add value, what consumers would pay for, and better align their offerings.
Letting me watch LodgeNet channels/content on my smart device while trapped in a hotel meeting room for a seminar? That I’d pay for.