Priceline.com Inc. and Hong Kong`s Hutchison Whampoa Ltd. will start operating a version of Priceline`s “name-your-own-price” Internet travel service in Hong Kong next month.
Hutchison spokeswoman Malina Ngai said Wednesday the new operation will be run by Hutchison-Priceline (Travel) Ltd., a joint venture owned 35 percent by Priceline.com
and 65 percent by Hutchison.
Taking the advantage of Hutchison`s prominent presence in Asia, which is run by Hong Kong billionaire Li Ka-shing, the joint venture will soon launch similar services elsewhere in Asia, including Taiwan and Singapore, Ngai said.
Based in Norwalk, Conn., Priceline.com allows customers to name their own prices for airline tickets, hotel rooms, car rentals and home mortgages in the United States.
But the joint venture in Hong Kong will first focus its Internet service, available both in English and Chinese, on airline tickets and hotel rooms. She said the company will introduce other services according to market demands.
Ngai declined to discuss how much the joint venture hopes to earn here.
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(01/02/2002) Priceline to Expand `Name Your Own Price` Service