Priceline goes European with acquisition of hotel res firm

NORWALK, Conn. -- Priceline.com upped its hotel clout in Europe with the acquisition of Active Hotels, a reservations service and distributor, for some $161 million.

Active Hotels, which will operate as an independent business, has relationships with about 8,000 properties in Europe, Priceline said.

Active Hotels gross bookings are expected to come in at $160 million through the 12 months ending Sept. 30, Priceline said.

Priceline increased its fourth-quarter guidance due to the acquisition. Pro forma net income per share is expected to increase one penny, to $0.14 to $0.18, the company said.

To contact the reporter who wrote this article, send e-mail to Dennis Schaal at [email protected].

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