Priceline: choosing price declining
There’s a steep decline in demand for name-your-own-price hotel and airline tickets, says Jeffrey Boyd, CEO at Priceline.com.
“Our opaque airline ticket business has been shrinking dramatically over the last couple of years,” Mr Boyd said at the Reuters Hotels and Casinos Summit in Los Angeles.
Bookings are down up to 40% in the last couple of years, he added.
Priceline started business by inviting travelers to bid blindly for bookings that would otherwise have gone unsold. The drawback is that travelers must be flexible.
But less than two years ago, Priceline began listing published fares. Sales there have grown, company officials said.
Only 25 to 60% of travelers are aware of the new policy and the fact that Priceline now offers a choice, Mr Boyd estimated.
Report by David Wilkening
David
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