Higher hotel bookings drive Priceline revenue
Norwalk, Connecticut – 27 February 2017 –
Travel website operator Priceline Group reported a 17.4 percent rise in fourth-quarter revenue, driven by higher hotel bookings.
Net income rose to US$673.9 million in the fourth quarter ended December 31, from US$504.3 million a year earlier. Revenue rose to US$2.35 billion from US$2 billion.
“Priceline recorded accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams,” chief executive Glenn Fogel said.
“We will continue to focus on growing our supply base to drive customer choice, innovating around the customer experience and investing efficiently in marketing to deliver profitable topline growth.”