TripAdvisor Surges Most on Partnership With Pricelineby
TripAdvisor Inc., a website that helps users plan and research vacations, posted its biggest one-day stock rally after announcing a deal with Priceline Group Inc. to bring the online travel company’s catalog of hotels into TripAdvisor’s booking system.
TripAdvisor rose 26 percent to $83.72 at the close in New York, its largest daily gain since it was spun off from Expedia Inc. in 2011. Priceline fell 2.5 percent to $1,311.08.
TripAdvisor users will be able to book accommodation from Priceline’s Booking.com website directly through TripAdvisor, the Needham, Massachusetts-based company said in a statement. TripAdvisor, which didn’t disclose terms of the deal, said it could eventually get access to Priceline’s other websites.
The deal pulls TripAdvisor closer to the world’s largest online travel-booking company. Priceline, based in Norwalk, Connecticut, had gross bookings worth $50.3 billion last year through its sites, which include Kayak, OpenTable and Agoda.com.