priceline.com would like to name itself the king of online travel. At priceline.com, buyers can "name their own price" for airline tickets, hotel rooms, rental cars, cruises, and vacation packages. Customers can also choose set-price options.
With its patented business model, priceline.com generates most of its revenue from travel-related services. In the case of airline tickets and hotel reservations, priceline.com generates sales on the margin, keeping the difference between the price paid by the individual and what priceline.com shelled out for the ticket or hotel room.
Founded in 1998, the company operates its business through the Booking.com, priceline.com, rentalcars.com, and Agoda brand names.
Priceline gives travelers the inside track to travel deals and discounts. With their exclusive deal search technology, priceline aims to deliver more ways to save on airline tickets, hotel rooms, rental cars, vacation packages and cruises than anyone else.
Like many companies focused on travel, priceline.com saw fewer customers hit the road and take to the skies when the economy took a dive. But based on the company's business model, its profit margins rise when travel partners discount their rates.
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