The Priceline Group is a company headquartered in the United States that owns and operates several travel fare aggregators and travel fare metasearch engines including Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. It operates websites in about 40 languages and 200 countries. In 2016, 88% of its bookings were made outside the United States - most of which used Booking.com.
In 2016, consumers booked 556.6 million room nights of accommodation, 66.6 million rental car days, and 7.3 million airplane tickets using websites owned by The Priceline Group.
In 2016, 93.4% of revenues were derived from commissions and 6.6% of revenues were derived from advertising.
Video The Priceline Group
History
In 1997, Jay S. Walker founded the company, which launched Priceline.com, an online travel site, that used a Name Your Own Price bidding model.
In 1999, the company became a public company via an initial public offering, making Walker, who owned a 35% stake in the company, a multi-billionaire.
The company experimented with selling other products and services such as groceries, gasoline, home mortgages, and cars, but these offerings were discontinued in 2000.
On April 1, 2014, the name of the company was changed from priceline.com Incorporated to The Priceline Group Inc.
In February 2017, Priceline announced a definitive agreement to acquire the Momondo Group. On July 17, 2017, EU antitrust regulators approved the acquisition. The Momondo Group, which operates Momondo and Cheapflights, will roll under The Priceline Group's travel meta brand, KAYAK. In August 2017, KAYAK acquired the assets, including the domain and user information and the mobile apps, of the Brazilian metasearch company Mundi.
Management
Jeff Boyd was named Chief Executive Officer in 2002 and remained in that role until becoming Chairman of the Board for The Priceline Group in 2013.
Effective January 1, 2014, Darren Huston was named Chief Executive Officer of the company, replacing Jeff Boyd.
On April 28, 2016, Huston was forced to resign following an extramarital affair and Boyd was named interim CEO.
Effective January 1, 2017, Glenn D. Fogel was named Chief Executive Officer and President.
Acquisitions
Maps The Priceline Group
See also
- Expedia, Inc.
- Fareportal
- Travix_International_B.V. (CheapTickets.nl, Vayama.com etc.)
References
External links
Source of the article : Wikipedia
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