Priceline Says It Won't Get Bogged Down by Acquisitions, Like Expedia Did
Skift Take
The Priceline Group will consider various strategies to further its priority of increasing its lodging supply. The reason? The more choice, the better the conversion rates of lookers into bookers. When people tell you Airbnb won't ever get into selling hotel rooms, then consider the lessons Priceline has learned about adding rooms.
This was interesting talk from a company, the Priceline Group, which announced a few weeks ago that it will acquire the Momondo Group for $550 million.
Speaking Monday during the company's fourth quarter earnings call, his first as Priceline Group CEO, Glenn Fogel said the company sees adding supply as an ongoing key part of its growth strategy and that doing it organically, without the distraction of acquisitions, is particularly advantageous.
"We look at a lot of potential deals and we are careful about it," Fogel said, referring to mergers and acquisitions. He said the company will be prudent about pulling the trigger on large deals going forward.
One issue in doing big acquisitions to increase
