Friday, October 11, 2019

Priceline Extending Its Reach To Restaurant Reservations

Extending its reach into restaurant reservations, online travel giant Priceline Group bought OpenTable for $2.6 billion.

Priceline paid $103 per share in cash, which is a 46% premium over OpenTable’s closing price of $70.43.

OpenTable charges restaurants monthly fees to seat diners who book their reservations online. It has an inventory of more than 31,000 restaurants, and seats more than 15 million diners a month.

“Travelers are diners,” Priceline CEO and President said in a conference call with analysts and reporters. “It’s the same customers. There’s opportunity to cross-promote brands.

“We spent a long time looking at OpenTable. It’s been on our radar for a long time. We felt now was a good time,” he said.

at
Labels: , , , , ,

2 comments:

  1. Emily CaraOctober 14, 2019 at 5:29 AM

    Hi thanks for sharing an informational article. Priceline CEO buy opentable, because he wants to expand the opentable internationally.

    ReplyDelete
    Replies
    1. Kristi LouisOctober 14, 2019 at 5:34 AM

      Darren Huston always thinks of profit, that's why he always got success.

      Delete

Subscribe to: Post Comments (Atom)

A gallery's perspective on the Venice Biennale

The Venice Biennale allows the best artists to leave their mark. Lorenzo Fiaschi , founder of the Galleria Continua, says that "artists...