Priceline earns hefty profit

NEW YORK  Priceline Group Inc reported its 3rd quarter 2015 financial results earlier this week, indicating a total dollar value of all travel services purchased by its customers at USD14.8 billion, an increase of 7% over a year ago (approximately 22% on a constant currency basis).
The group’s gross profit for the 3rd quarter was USD2.9 billion, a 12% increase from the prior year (approximately 29% on a constant currency basis).
International operations contributed gross profit of USD2.6 billion, an 11% increase versus a year ago (approximately 29% on a constant currency basis).
Family traveling by airplane“The Priceline Group delivered strong growth and operating results during its high travel season,” said Priceline Group president and CEO, Darren Huston. “Globally, accommodation business booked a record 116 million room nights in the 3rd quarter, up 22% over the same period last year. Gross profit grew 29% on a constant currency basis. Booking.com showed continued positive momentum with over 820,000 properties on its platform, up 38% over last year. This represents over 21 million potentially bookable rooms, the largest, and most diverse, selection of directly bookable accommodations in the world.”
Looking forward, Mr Huston said: ” We will continue to focus on making the right investments across our six brands.”
The Priceline Group is a leader in online travel and related services, provided to customers and partners in over 200 countries through six primary brands – Booking.com, priceline.com, KAYAK, agoda.com, rentalcars.com, and OpenTable.

sourced:ttrweekly.com