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A new function was introduced in July for those who are looking for the best offers for air and hotel accommodation. And on September 19, another application named Google Trips was out. This effort reflects the greater trends in the tourism sector. Following on the heels of the OTA consolidations, the next major policy of today's operators is to cover all your needs from a single source.
Since July, Priceline (PCLN) has been using the AI to offer personalised choices for travellers' tastes. The Booking Experiences function was introduced in key locations such as London, Paris, New York and Dubai and is scheduled to be introduced at the end of the year. It is a trip scheduling tool and offers the possibility to connect travellers with local people to organise trips and to provide information about food, destinations and other touring.
Following a huge surge of consolidations, there are few rivals for the duo of Expedia (NASDAQ: EXPE) and Priceline. Priceeline has already made investments in China (via Ctrip (NASDAQ:CTRP)) and India (via Ctrip's stake in MakeMyTrip (NASDAQ:MMYT)). It can end up as the largest contender to OTA' s because it's in a great place to narrow a large part of the rice research and booking markets.
The majority of travellers use one or the other Google service to find out about new sites. Google can take a huge advantage over other providers by combining various functions in one application. It is also nearer to Google's key competence of searching and analyzing information than other moon shots in which it has invested in.
It can retrieve flight, hotel, restaurants and rent a vehicle information from Gmail histories. They can also take a look at Gmail story and suggest preferred ways to visit a town. The growing traffic of Google Travelling applications will also affect the growing prospects of the OTAs' ad market. Priceline's "advertising and other revenues" accounted for over 7% of overall sales in the last three months, contributing $178.1 million.
It is very difficult to move the pin for Google at this state. But it does offer a very useful touch point for Google, as it is a virtuoso bike of delivering more travelers information that can then be used to provide better journey choices. Successfully supplementing the range of products contributing to the result is seen by the industry as a good sign.
We are aggressively trying to get a foot in the game. With the current application all necessary information such as flight, hotel, restaurantreservation, rent a vehicle, event, etc. can be found in one place. The simple accessibility within Google Maps and the off-line accessibility offer a clear benefit over other vendors' established vendors in this area.
While the gradual expansion of the top line will be relatively small in the near term, broader tractive effort on Google's tourism product will offer good opportunities for monetisation in the area. The Google campaign has a negative effect on other agencies, particularly Expedia and Priceline. You will see a immediate effect on your ad as Google expands its traffic capabilities.
It will also directly rival Priceline's current travel scheduling capabilities. That is another head wind for OTA' s along with the expansion of Airbnb and its struggle with hotel chain. Currently, Expedia and Priceline should be on hold for traders.