Monday, November 8, 2010

Priceline.com may bid on acquisitions after blowout quarter

Will Priceline.com Inc. take a look at more merger-and-acquisition opportunities after its purchase of international car-rental specialist TravelJigsaw helped it report a blow-out quarter Nov. 8?

Citigroup's Mark Mahaney posed the question at the end of the company's earnings conference call, during which executives detailed a quarter well ahead of expectations thanks to a 54 percent surge in worldwide hotel bookings and a 97 percent rise in car-rental days.

"We think that the rental car business internationally is a very attractive business," responded CEO Jeffery H. Boyd. "Would we potentially be more interested in doing something outside the hotel and the car hire space like air and packages? I think the airline ticket business in Europe is challenging for online travel agents. I would never say never on something like that but we think the rental car business is much more attractive."

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