Profile: Priceline Group Inc (PCLN.O)
26 Jul 2017
The Priceline Group Inc., incorporated on July 30, 1998, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands. Its other brands include KAYAK, Rentalcars.com and OpenTable, Inc. (OpenTable).
Booking.com is the brand for booking online accommodation reservations based on room nights booked. As of December 31, 2016, Booking.com offered accommodation reservation services for over 1,115,000 properties in over 220 countries and territories on its various Websites and in over 40 languages, which included over 568,000 vacation rental properties (updated property counts were available on the Booking.com Website). Vacation rentals consist of, among others, properties categorized as single-unit and multi-unit villas, apartments, aparthotels (which are apartments with a front desk and cleaning service) and chalets and are generally self-catered (include a kitchen), directly bookable properties. Accommodation providers participate in Booking.com, which operates primarily under an agency model, by filing rates and information about the property in Booking.com's extranet. In addition, Booking.com offers Website and other marketing services and business analytics to accommodation providers as part of its BookingSuite initiative.
Priceline.com offers online travel reservation services primarily in the United States. Through priceline.com, it offers consumers hotel, rental car and airline ticket reservation services, as well as vacation packages and cruises. Priceline.com is engaged in the discount travel reservation business, including through its Name Your Own Price and Express Deals opaque offerings where certain elements of the service, including the identity of the travel service provider, are not disclosed to the consumer prior to making a reservation. Priceline.com operates under both a merchant and agency model.
KAYAK provides an online price comparison service that allows consumers to search and compare travel itineraries and prices, including airline ticket, accommodation reservation and rental car reservation information, from various travel Websites at once. KAYAK sends referrals to OTCs and travel service providers and from advertising placements on its Websites and mobile applications. As of December 31, 2016, KAYAK offered its services in approximately 40 countries.
Agoda.com is an online accommodation reservation service catering primarily to consumers in the Asia-Pacific region. Accommodation providers participate in agoda.com, which operates primarily under a merchant model, by filing rates and information about the property in agoda.com's extranet.
Rentalcars.com is an online rental car reservation service. Rentalcars.com, which operates primarily under a merchant model, offers online rental car reservation services. As of December 31, 2016, Rentalcars.com allowed consumers to make rental car reservations in approximately 49,000 locations throughout the world, with customer support provided in 40 languages. Consumers using Rentalcars.com can book a range of vehicles online through Rentalcars.com's Website or mobile application, or they can reserve their cars by phone.
OpenTable is a brand for booking online restaurant reservations. The Company provides restaurants with reservation management services and consumers with the ability to make restaurant reservations at participating restaurants through OpenTable.
The Company competes with Google, Apple, Alibaba, Tencent, Amazon, Facebook, Expedia, Hotel Reservation Service, AutoEurope, CarTrawler, Ctrip.com International Ltd., eLong, Meituan, ezTravel, MakeMyTrip, OYO Rooms, Yatra, Cleartrip, Traveloka, Webjet, Rakuten, Recruit, ViajaNet, Submarino Viagens, Despegar/Decolar, Alibaba, 17u.com, HotelTonight, CheapOair, Mr. and Mrs. Smith, eDreams ODIGEO, Baidu, Groupon, Carlson Wagonlit, American Express, BCD Travel, Concur, Thomas Cook, TUI, Hotelbeds, Tourico, Kuoni, Marriott International, Hilton, Hyatt Hotels, Room Key, TripAdvisor, HotelsCombined, Yelp, Zomato, Michelin, Resy, Uber, Lyft, Gett, Avis, BlaBlaCar, Didi Chuxing and Ola.
Priceline Group Inc
800 CONNECTICUT AVE
NORWALK CT 06854-1631