2014 Sales: $50.3 billion
Employees: 12,700
Previous Ranking: 2
800 Connecticut Ave.
Norwalk, CT 06854
T (305) 555-9601
Website Executives
PRESIDENT/CEO: Darren Huston
EVP/GENERAL COUNSEL: Peter J. Millones Jr.
HEAD OF WORLDWIDE STRATEGY & PLANNING/EVP-CORPORATE DEVELOPMENT: Glenn. D. Fogel
CFO: Daniel J. Finnegan
2014 Developments
• New CEO, Darren Huston, joined company January 1, 2014
• Acquired OpenTable.com in June, 2014 for $2.6 billion.
• Through its six brands, the group generated $7.6 billion in gross profit in 2014, an increase of 33% year over year; and $2.4 billion in net income, an increase of 28% year over year. The group posted $50.3 billion in gross travel bookings, an increase of 28% over 2013, largely driven by international operations, which contributed full-year gross profit of $6.6 billion, up 32% from 2013.
• Renamed Priceline Group.
• Extended offerings for hotel partners through acquisitions, including: Buuteeq, a B2B Web design and booking/revenue management services company, and a partnership with Ctrip.com.
Company Facts
• An OTA that is built on retail, opaque, merchant models and online restaurant reservation services. Each brand is independently operated and provides booking services from a selection of aggregated suppliers in exchange for a share of the revenue commission earned from facilitating reservations of travel services. A significant majority of the company’s gross profit is earned in connection with facilitating accommodation reservations including transaction gross profit and customer processing fees from travel reservation services. Gross profits from Kayak result from advertising revenues
• The Priceline Group includes six major brands: Booking.com (online hotel reservation. service), Priceline.com (reservations for travel products), Kayak (reservations for travel products), Agoda.com (Asia-based online hotel reservation service), RentalCars.com (car rental reservations) and OpenTable.com (online real-time restaurant reservations). Beginning last July, revenues recognized by OpenTable and GDS booking fees related to Name Your Own Price reservations services were also accounted for in gross profit.
• Publicly held.
Looking Ahead
• Revamping OpenTable’s site.
• Opening Booking.com customer service center.
• Enhancing mobile and desktop sites for priceline.com and rentalcars.com.
Correction: This entry was updated to correct the spelling of CEO Darren Huston's name. Also, the website address was incorrectly given: It is pricelinegroup.com.