These high-penetration levels have put enormous pressure on the electric grid and created considerable doubts about the ability to interconnect more variable resources with the grid safely.

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With a lower online penetration (compared to US), a fragmented hotel market and low OTA penetration in Eastern Europe, we believe that the European online travel market offers considerable growth opportunities for OTAs.

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With an expanding travel and deals market combined with a lower online penetration (compared to the U.S.), we believe Europe offers considerable growth opportunities for Travelzoo.

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