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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table represents the allocation of the total cost of the MTE acquisition to the assets acquired (in thousands):
| Fair Value
Consideration for MTE assets |
Fair value of Travelzoo common stock issued | $ | 15,175 |
Direct transaction costs | 184 |
Less: |
Cash received from Azzurro Capital Inc. | (1,000) |
Notes receivable from Azzurro Capital Inc. | (4,753) |
Total consideration for MTE assets | $ | 9,606 |
Relative fair value of the assets acquired |
Cash and cash equivalents | $ | 6 |
Prepaid expenses and other | 45 |
Property and equipment | 18 |
Tax indemnification asset | 9,537 |
Total assets acquired | $ | 9,606 |
Schedule of Intangible Assets | The following table presents the gross fair values and estimated useful lives of intangible assets (in thousands):
| Fair Value |  | Estimated Life (Years)
Customer relationships (Jack's Flight Club) | $ | 3,500 |  |  | 5.0
Trade name (Jack's Flight Club) | 2,460 |  |  | indefinite
Non-compete agreement (Jack's Flight Club) | 660 |  |  | 4.0
Intangible assets (Secret Escapes Spain member database) | 445 |  |  | 3.0
Intangible assets (Secret Escapes U.S. member database) | 1,751 |  |  | 2.3
The following table presents the activities of intangible assets for the years ended December 31, 2023 and 2022 (in thousands):
| Jack's Flight Club |  | Secret Escapes Spain member database |  | Secret Escapes U.S. member database
Intangible assets, net—January 1, 2022 | $ | 3,426 |  |  | — |  |  | — |
Acquisitions—March 2022 | — |  |  | 445 |  |  | 1,751 |
Amortization of intangible assets with definite lives | (875) |  |  | (118) |  |  | (778) |
Impairment of trade name—December 31, 2022 | (200) |  |  | — |  |  | — |
Intangible assets, net—December 31, 2022 | 2,351 |  |  | 327 |  |  | 973 |
Amortization of intangible assets with definite lives | (641) |  |  | (141) |  |  | (778) |
Intangible assets, net—December 31, 2023 | $ | 1,710 |  |  | $ | 186 |  |  | $ | 195 |
Schedule of Expected Future Amortization Expense | Expected future amortization expense of acquired intangible assets as of December 31, 2023 is as follows (in thousands):
Years ending December 31, |
2024 | $ | 594 |
2025 | 47 |
| $ | 641 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
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