Travelzoo Inc.'s board of directors authorized the company to repurchase up to 500,000 shares of its common stock.
Under the program, which will be funded from available cash, purchases may be made from time to time in the open market.
The number of shares to be purchased and the timing of purchases will be based on the level of Travelzoo's cash balances, general business and market conditions, and other factors, including alternative investment opportunities, according to a March 5 news release.
