Priceline Group (PCLN) is expanding its share of China’s online travel market, through a bigger investment in China’s Ctrip.com International. Ctrip, China’s No. 1 provider of accommodation reservations, transportation ticketing, packaged tours and corporate travel management, said Monday it has received an additional $250 million investment from Priceline, the No. 1 online travel company. Ctrip.com International (CTRP) said the investment will be
Priceline Group (PCLN), Expedia and TripAdvisor posted hotel demand gains and share growth in Q1, according to an analyst’s report on Monday. “Hotel industry demand remained strong on Q1 and the ‘Big 3’ in online travel — Priceline, Expedia (EXPE) and TripAdvisor (TRIP) — continued to take market share,” wrote Cowen & Co. analyst Kevin Kopelman in a Monday research note. “We estimate that the ‘Big 3’ will generate a combined $80 billion in hotel
Priceline Group (PCLN) stock fell Thursday after the online travel agency gave a soft outlook for Q2, saying the strong dollar continues to hamper its growth, even as the online travel site’s Q1 earnings beat analyst expectations. Priceline forecast Q2 EPS ex items of $10.95 and $11.75, down 12% to 6% from the year-ago quarter. Analysts polled by Thomson Reuters had modeled $13.10, up nearly 5%. Priceline forecast Q2 revenue as ranging from flat