The Priceline Group is adding pieces to its new B2B hotel technology division, which it expects will be a substantial business eventually.
The Priceline Group added to its technology solutions for hoteliers and acquired PriceMatch, a revenue management startup that had raised more than $10 million.
The companies did not disclose the terms of the acquisition.
The acquisition of the PriceMatch, with offices in Europe and the U.S., comes after the Priceline Group recently launched its BookingSuite division to create websites and provide the Booking.com booking engine for hotels. PriceMatch is a cloud-based solution geared to provide analytics to hotels to improve performance.
Priceline Group CEO Darren Huston said earlier this week that the company didn’t merely launch BookingSuite to be pals with hotels.
“…We’re not just doing this to be nice; it’s a real business,” Huston said during the company’s first quarter earnings call. “And we expect in, let’s call it, the medium to longer term, to have a pretty substantial impact on our overall business.”
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Photo Credit: PriceMatch, which provides revenue management for hotels, was acquired by the Priceline Group. PriceMatch