The Priceline Group Inc. (NASDAQ:PCLN) has decided to acquire PriceMatch, a hotel-data company. It is one of the biggest and the latest deals for the fastest progressing online booking company. Although the announcement of the proposed acquisition was made, the terms related to the deal are not yet disclosed.
Priceline is to integrate the PriceMatch features into BookingSuite, which is an important arm of its recently launched Book.com business division. The acquisition of PricceMatch will help the BookingSuite partners to access a set of powerful business intelligence tool and help the company optimize its performance using a platform that is easy to manage. According to the Director of BookingSuite, Rob Ransom, the addition of PriceMatch will make working much streamlined and easier.
PriceMatch comes with a cloud-based platform. This platform helps to deliver the real-time data rapidly to the hotels using tailored algorithms. These algorithms take into account several factors such as seasonality of the hotel, reservation history of the hotel and the price of the competitors. PriceMatch has said that its clients have opined that there has been a rise of 7% in RevPar or revenue generated per available room.
One More Acquisition by Priceline
The RevPar is considered the key metric or parameters for the hotel industry. Priceline acquisitions have always been famous and triggered off discussions and debates in the media. Signing a deal with PriceMatch is the latest in the line-up. Over the past 10 years, Priceline has managed to take over many travel sites including Kayak.com and Booking.com.
This year in the month of February, the company had said that it is planning to buy Rocketmiles, a hotel-booking startup for around $20 million. Last Year, the company acquired OpenTable Inc, a restaurant booking service at $2.6 billion. The desire to excel and add more features and services to its working has inspired Priceline to keep on acquiring new companies and services.
The company’s constant progressive approach has contributed towards increasing the worth of shares by 10% from the past year.