Priceline to Buy Hotel-Data Company PriceMatch

Dow Jones Newswires

Priceline Group Inc. on Friday unveiled plans to acquire hotel-data company PriceMatch, the latest deal for the acquisitive online booking company.

The terms of the deal weren't disclosed.

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Priceline said it would integrate PriceMatch into BookingSuite, which is a recently launched division of its business.

"With the addition of PriceMatch, BookingSuite partners will be able to access a powerful set of business intelligence tools to help them optimize performance through a platform that's easy to use and manage," said BookingSuite Director Rob Ransom.

PriceMatch's cloud-based platform delivers real-time data to hotels through tailored algorithms that account for factors like a hotel's reservation history, competitors' prices and seasonality. According to PriceMatch, its clients have on average seen a 7% increase in RevPAR--or revenue per available room--which is a key metric for the hotel industry.

The PriceMatch deal is the latest in a string of recent Priceline acquisitions. The company has grown considerably over the past decade through takeovers of travel sites including and In February, the company said it would buy hotel-booking startup Rocketmiles for about $20 million. Last summer, Priceline spent $2.6 billion to acquire restaurant booking service OpenTable Inc.

Shares in the company have risen about 10% over the past year and rose 0.7% in early trading.