Compared to other peers in the Internet Information Providers sector, Tripadvisor has outperformed in terms of quarterly revenue growth year over year at 0.25 vs. the industry average of 0.09.
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Priceline Group Inc. agreed to weave much of its hotel inventory into TripAdvisor Inc.’s new booking platform, offering the travel review website a potentially massive source of new business.
The partnership will make TripAdvisor a more inclusive website, allowing users to book accommodation from Booking.com, which is within Priceline’s portfolio of websites. The platform provides a seamless and efficient hotel booking experience for travelers. The initial launch will be with Priceline’s Booking.com brand and will be expanded to other brands, including Agoda and Priceline.com, overtime.
So far, development work has already begun to support the integration of Priceline hotel properties, which are expected to be available on the instant booking platform soon.
“TripAdvisor will let consumers know that their hotel booking is being powered by Booking.com, and Booking.com representatives will handle all of the customer care related to the transaction”, both the companies said in the press release.
TripAdvisor said it has started working to add Priceline Group hotels onto its instant booking platform that already carries 235,000 properties.
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Both TripAdvisor and Priceline have been facing increased competition for customers from established hoteliers to startups such as Airbnb Inc. Our mission is to help people experience the world, and we are constantly innovating how and where we engage with consumers to help them do this. Just before 10 a.m. Wednesday the TripAdvisor stock price was up almost 20 percent, to $80. With a 10-days average volume of 1.12 million shares, the number of days required to cover the short positions stand at 12.4 days. The consensus target price stands at $84.14.
