Deals and metasearch brand Travelzoo lost around half its revenue in 2020 compared to the previous year.
The company's 2020 earnings report released this week disclosed a decline from $105 million in 2019 to $53 million in the pandemic-hit following 12 months.
An operating profit of $18 million in 2020 switched to a loss $2.3 million last year, as coronavirus-imposed travel restrictions hit operations across the company.
Hardest hit for the company in the final quarter of 2020 was its European business, with a 71% year-over-year slump in revenues to $2.7 million.
North America experienced a 45% drop in revenue to $8.9 million over the same period.
Jack's Flight Club, which Travelzoo acquired a 60% stake in January 2020, generated just under $1 million in revenue in the fourth quarter of 2020.
During 2020, Travelzoo offloaded its Singapore and Japan businesses to licensing programs to Julian Rembrandt and Hajime Suzuki respectively.
Global CEO Holger Bartel said: "We see continued improvement in our business. We are seeing irresistibly priced deals from travel companies, and Travelzoo, as the most trusted media brand publishing and recommending deals, is bringing the very best deals to its members.
"In March 2021, we saw the strongest activity from Travelzoo members in the U.S. since March 2020, as measured by user sessions on the Travelzoo site and app."