Segment Reporting and Significant Customer Information

The Company manages its business geographically and has three reportable operating segments: Asia Pacific, Europe and North America. Asia Pacific consists of the Company's operations in Australia, China, Hong Kong, Japan, Taiwan, and Southeast Asia. Europe consists of the Company’s operations in France, Germany, Spain, and the U.K. North America consists of the Company’s operations in Canada and the U.S.

Management relies on an internal management reporting process that provides revenue and segment operating income for making financial decisions and allocating resources. Management believes that segment revenues and operating income are appropriate measures of evaluating the operational performance of the Company’s segments.

The following is a summary of operating results and assets (in thousands) by business segment:



Year Ended December 31, 2017	Asia Pacific			Europe			North America		Other		Consolidated
Revenues from unaffiliated customers	$	7,553		$	34,034		$	64,937	$	—	$	106,524
Intersegment revenues	(34		)	(353		)	387		—		—
Total net revenues	$	7,519		$	33,681		$	65,324	—		$	106,524
Operating income (loss)	$	(5,967	)	$	2,290		$	8,222	$	—	$	4,545



Year Ended December 31, 2016	Asia Pacific			Europe			North America		Other (a)		Consolidated
Revenues from unaffiliated customers	$	9,625		$	37,502		$	67,136	$	—	$	114,263
Intersegment revenues	73			(595		)	522		—		—
Total net revenues	$	9,698		$	36,907		$	67,658	—		$	114,263
Operating income (loss)	$	(3,890	)	$	5,604		$	8,472	$	—	$	10,186



Year Ended December 31, 2015	Asia Pacific			Europe			North America		Other (a)		Consolidated
Revenues from unaffiliated customers	$	10,661		$	39,867		$	73,433	$	—	$	123,961
Intersegment revenues	(12		)	(131		)	143		—		—
Total net revenues	$	10,649		$	39,736		$	73,576	—		$	123,961
Operating income (loss)	$	(2,469	)	$	2,472		$	3,817	$	—	$	3,820



As of December 31, 2017	Asia Pacific		Europe		North America		Elimination			Consolidated
Long-lived assets	$	140	$	496	$	4,285	$	—		$	4,921
Total assets	$	3,697	$	54,593	$	60,246	$	(72,864	)	$	45,672



As of December 31, 2016	Asia Pacific		Europe		North America		Elimination			Consolidated
Long-lived assets	$	209	$	763	$	5,186	$	—		$	6,158
Total assets	$	5,295	$	49,125	$	65,961	$	(66,851	)	$	53,530

Revenue for each segment is recognized based on the customer location within a designated geographic region. Property and equipment are attributed to the geographic region in which the assets are located.

For the years ended December 31, 2017, 2016 and 2015, the Company did not have any customers that accounted for 10% or more of revenue. As of December 31, 2017, the Company did not have any customers that accounted for 10% or more of accounts receivable. As of December 31, 2016, the Company had one customer that accounted for 16% of accounts receivable. Accounts receivable representing 10% or more of total accounts receivable was related to an advertising technology company that assists us with our Search product traffic monetization by using a traffic auction platform.

The following table sets forth the breakdown of revenues (in thousands) by category and segment. Travel revenue includes travel publications (Top 20, Website, Newsflash, Travelzoo Network), Getaway vouchers and hotel platform. Local revenue includes Local Deals vouchers and entertainment offers (vouchers and direct bookings).



	Year Ended December 31,
	2017		2016		2015
Asia Pacific
Travel	$	6,992	$	8,845	$	9,355
Local	527		853		1,294
Total Asia Pacific revenues	$	7,519	$	9,698	$	10,649
Europe
Travel	$	29,180	$	31,087	$	33,603
Local	4,501		5,820		6,133
Total Europe revenues	$	33,681	$	36,907	$	39,736
North America
Travel	$	53,880	$	54,248	$	56,156
Local	11,444		13,410		17,420
Total North America revenues	$	65,324	$	67,658	$	73,576
Consolidated
Travel	$	90,052	$	94,180	$	99,114
Local	16,472		20,083		24,847
Total revenues	$	106,524	$	114,263	$	123,961

Revenue by geography is based on the billing address of the advertiser. Long-lived assets attributed to the U.S. and international geographies are based upon the country in which the asset is located or owned.

The following table sets forth revenue for individual countries that were 10% or more of total revenue (in thousands):



	Year Ended December 31,
	2017		2016		2015
Revenue
United States	$	59,812	$	62,456	$	68,441
United Kingdom	19,113		22,263		25,865
Germany	12,226		12,576		12,534
Rest of the world	15,373		16,968		17,121
Total revenues	$	106,524	$	114,263	$	123,961

The following table sets forth long lived asset by geographic area (in thousands):



	December 31,
	2017		2016
United States	$	3,893	$	4,755
Rest of the world	1,028		1,403
Total long lived assets	$	4,921	$	6,158