2014, the company acquired OpenTable, a brand for booking online restaurant reservations. OpenTable provides online restaurant reservation services to consumers and reservation management services to restaurants. OpenTable does business primarily in the United States, though it intends to continue to invest in expanding its international offerings. Strategy The company’s strategy is to continue to participate broadly in online travel growth by expanding its service offerings and markets. Its strategy includes providing the best consumer experience; partnering with travel service providers and restaurants; maintaining multiple, independently managed brands; and investing in profitable and sustainable growth. Seasonality The company has historically experienced its highest levels of profitability in the second and third quarters of the year (year ended December 31, 2015), which is when the company experiences the highest levels of accommodation checkouts for the year for its European and North American businesses. The company experiences the highest levels of booking and travel consumption for its Asia-Pacific and South American businesses in the first and fourth quarters. Competition The company competes with online travel reservation services, such as Expedia, Hotels.com, Hotwire, Orbitz, Travelocity, Wotif, Cheaptickets, ebookers, HotelClub, RatesToGo, CarRentals.com and Venere, which are owned by Expedia; laterooms, which is owned by Tui Travel; Hotel Reservation Service (HRS) and hotel.de, which are owned by Hotel Reservation Service; and AutoEurope, Car Trawler, Ctrip (in which the company holds a minority interest), eLong (in which Ctrip acquired a significant minority ownership interest), MakeMyTrip, Webjet, Rakuten, Jalan, Hotel Urbano (in which the company holds a minority interest), ViajaNet, Submarino Viagens, Despegar/Decolar, 17u.com, HotelTonight, Bookit.com, CheapOair, Mr. and Mrs. Smith and eDreams ODIGEO. The company also competes with online accommodation search and/or reservation services, such as Airbnb and HomeAway (which is owned by Expedia); large online companies, including search, social networking and marketplace companies, such as Google, Facebook, Alibaba and Groupon; traditional travel agencies, wholesalers and tour operators, such as Carlson Wagonlit, American Express, Thomas Cook and Tui Travel; travel service providers, such as Room Key; online travel search and price comparison services, such as TripAdvisor, trivago (in which Expedia holds a majority ownership interest), Qunar (which is controlled by Ctrip), Skyscanner, HotelsCombined and Traveloka; online restaurant reservation services, such as TripAdvisor's LaFourchette, Yelp's SeatMe, Zomato, Bookatable (which is owned by Michelin) and Quandoo (which is owned by Recruit); and companies offering new rental car business models or car- or ride-sharing services, such as Uber, Lyft, Gett, Zipcar (which is owned by Avis), BlaBlaCar, Didi Kuaidi and Ola. History The company was founded in 1997 as a Delaware limited liability company and was converted into a Delaware corporation in 1998. It was formerly known as priceline.com Incorporated and changed its name to The Priceline Group Inc. in April 2014.
priceline group inc/the (PCE1:Frankfurt)
800 Connecticut Avenue
Norwalk, CT 06854
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