The Havas-owned agency beat Omnicom Group's DDB Worldwide in Dallas and Chicago; Publicis Groupe's Arnold of New York; and Doner Southfield, Michigan to the work.
The account was previously handled by the Richards Group in Dallas, which did not repitch for the account.
Another Omnicom agency, Martin/Williams, Minneapolis, is understood to have pulled out of the running last month after it won the $35m (拢20.65m) E-Trade account.
The review comes amid increasing competition in the US online travel market from rivals such as Expedia and Orbitz.
In August, the moved its UK business into Miles Calcraft Briginshaw Duffy out of St Luke's, which created the memorable "competing for you" ads, starring a bunch of camp flight attendants.
"We are thrilled to have engaged McKinney & Silver as our new ad agency," Susan McLaughlin, vice-president of marketing for Travelocity, said. "Its account and creative teams have sterling reputations throughout the ad industry and we're looking forward to tapping into their vast knowledge base as we explore new directions for the Travelocity brand."
McKinney & Silver clients include Nasdaq, Audi of America, First Citizens Bank, XO Communications and the North Carolina Symphony.
Brad Brinegar, president and CEO of McKinney & Silver, said: "Travelocity has been at the forefront of the revolution that is currently taking place in the travel industry and it has shown a genuine interest in capitalising on the economic power of talked about work. We couldn't be more excited about the partnership."
Travelocity is reported to have spent $28.7m on advertising in 2003, according to TNS Media Intelligence/CMR. The review of the US business was overseen by marketing consultancy Rojek Cutcher Group, Cleveland, Ohio.
Media is handled by OMD in New York and is unaffected by the creative review.
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