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, 2018	Asia Pacific			Europe			North America		Other		Consolidated
Revenues from unaffiliated customers	$	7,869		$	36,468		$	66,985	$	—	$	111,322
Intersegment revenues	(10		)	(319		)	329		—		—
Total net revenues	$	7,859		$	36,149		$	67,314	—		$	111,322
Operating income (loss)	$	(6,322	)	$	4,973		$	9,587	$	—	$	8,238



Year Ended December 31, 2017	Asia Pacific			Europe			North America		Other (a)		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



As of December 31, 2018	Asia Pacific		Europe		North America		Elimination			Consolidated
Long-lived assets	$	145	$	313	$	3,332	$	—		$	3,790
Total assets	$	3,811	$	62,942	$	62,433	$	(85,762	)	$	43,424



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

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, 2018, 2017 and 2016, the Company did not have any customers that accounted for 10% or more of revenue. As of December 31, 2018 and 2017, the Company did not have any customers that accounted for 10% or more of accounts receivable.

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,
	2018		2017		2016
Asia Pacific
Travel	$	7,351	$	6,992	$	8,845
Local	508		527		853
Total Asia Pacific revenues	$	7,859	$	7,519	$	9,698
Europe
Travel	$	30,856	$	29,180	$	31,087
Local	5,293		4,501		5,820
Total Europe revenues	$	36,149	$	33,681	$	36,907
North America
Travel	$	56,145	$	53,880	$	54,248
Local	11,169		11,444		13,410
Total North America revenues	$	67,314	$	65,324	$	67,658
Consolidated
Travel	$	94,352	$	90,052	$	94,180
Local	16,970		16,472		20,083
Total revenues	$	111,322	$	106,524	$	114,263

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,
	2018		2017		2016
Revenue
United States	$	61,257	$	59,812	$	62,456
United Kingdom	$	21,034	$	19,113	$	22,263
Germany	$	12,257	$	12,226	$	12,576
Rest of the world	$	16,774	$	15,373	$	16,968
Total revenues	$	111,322	$	106,524	$	114,263

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



	December 31,
	2018		2017
United States	$	3,035	$	3,893
Rest of the world	755		1,028
Total long lived assets	$	3,790	$	4,921