Priceline’s Trip Builder designed to provide multiple savings
Priceline CEO Brett Keller told FOX Business the travel site’s new booking platform that lets users bundle all of the most popular options will deliver savings to consumers.
“People, however, are a little conscious about price. Gas prices are going up and with the big drive destination, they are looking for ways to save money,” he said on “Countdown to the Closing Bell” Monday.
Nearly 43 million Americans will kick off the unofficial start of summer vacation on Memorial weekend, according to AAA. It is the second highest travel volume on record and 37.5 million Americans will drive to their destination.
“Even if you are driving, if you want to stay in a couple of destinations, you can find a couple of hotels, bundle them together which leads to a much lower price,” Keller said.
With travel up close to 4 percent this year, popular travel booking platforms are experiencing some stiff competition in getting consumers the best deal.
Google is moving into the travel related business and Amazon could soon disrupt the travel industry.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 179.75 | +6.08 | +3.50% |
| BKNG | BOOKING HOLDINGS INC. | 3,502.48 | -15.04 | -0.43% |
| GOOGL | ALPHABET INC. | 171.99 | +15.99 | +10.25% |
Keller said he fears any competitor trying to tap into the travel booking business.
“Amazon has taken a couple of shots at travel over the last 20 years. We’ve seen that happen in our industry,” he said. “But like Google, they can potentially be a very strong partner as well.”
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Google’s travel business has partnered with Priceline producing significant leads to the website, according to Keller.
Priceline is a unit of Booking Holdings Inc. which is publically traded on the Nasdaq.