NORWALK, Conn.—(BUSINESS WIRE)—Aug. 21, 2003—Priceline Vacations Adds All-Inclusive Resorts; Reaches 1,700 Properties Milestone. Priceline.com (Nasdaq: PCLN), the Name Your Own Price(R) service, today announced expansions in two of its fastest-growing travel services. Priceline.com`s hotel reservation service announced that it has added several new international destinations, including Australia, Japan, Indonesia, Malaysia, South Korea and Taiwan. And priceline.com`s packaged vacations service announced the addition of all-inclusive resorts and said that it has achieved a milestone of over 1,700 properties now participating in its packaged vacations service.
Hotel rooms and packaged vacations are two of priceline.com`s fastest-growing travel products. Recently, priceline.com reported that it sold a record 1.5 million hotel room nights in the 2nd quarter - a 38 percent year-over-year increase and a growth of 270,000 room nights over the 1st quarter 2003. Priceline.com`s unit sales of packaged vacations (which include airfare and hotel) during the 2nd quarter grew by more than 100 percent over the same period a year ago.
“Priceline.com`s hotel and vacation services have struck a chord with the market and we`re pleased to further expand these product offerings for our customers,” said priceline.com President and CEO Jeffery H. Boyd. “More and more, flexible leisure travelers are finding that priceline.com can deliver significant savings over the other major online travel reservation services.”
About Priceline Hotels - The expanded Priceline Hotel service is available to customers living in the U.S., U.K., Hong Kong and Singapore. Priceline Hotels now has more than 9,500 participating hotel properties in the U.S., Europe, Mexico, Canada, Japan, Australia, the Caribbean and Asia (China and Hong Kong, Singapore, Taiwan, Thailand, South Korea, Malaysia and Indonesia). Several of priceline.com`s newest Asian hotel participants are owned and operated by Hong Kong-based Hutchison-Whampoa Limited, a major priceline.com investor and strategic partner. All of the major U.S. hotel chains work with priceline.com and priceline.com has negotiated exclusive prices and savings that cannot be found on other Internet reservation services, including other “opaque” services.
Priceline.com`s Name Your Own Price(R) hotel service is unique and different from other online hotel reservation services. Priceline.com enables leisure travelers to pick the type of hotel they want, the exact neighborhood they want, and the price they want to pay. Priceline.com then works with its hotel partners to find one willing to provide top-quality accommodations at the customer`s price. By using priceline.com`s Name Your Own Price hotel service, leisure travelers can achieve additional savings over the other major online travel services for top-quality accommodations around the world.
Recent examples of priceline.com hotel savings include:
—Karl C named his own price of $100 a night for a 4-star hotel in Sydney`s City Centre - a savings of 42 percent.
—Arvin B named his own price of $65 a night for a 5-star hotel in Singapore`s Orchard Road Shopping District - a savings of 50 percent.
—Robert H named his own price of $100 a night for a 5-star hotel on West Hong Kong Island - a savings of 49 percent.
—Marc B named his own price of $75 a night for a 5-star hotel in Bangkok`s Sukhumvit district - a savings of 48 percent.
Hotel prices shown do not include applicable taxes and fees, or priceline.com`s processing charge per offer. Savings shown are for the total cost of the hotel room(s), before applicable taxes and fees, when compared to the lowest published rates available at the time of booking for the same itinerary. Savings shown above are subject to change and availability and these results are not necessarily typical. Name Your Own Price hotel rooms are subject to certain restrictions and there is no guarantee that any Name Your Own Price offer will be accepted.
About Priceline Vacations - The expanded Priceline Vacations service is available to customers living in the U.S. The service, which offers air/hotel vacation packages, covers more than 1,700 vacation properties in the U.S. (including Hawaii, Alaska, the U.S. Virgin Islands and Puerto Rico), Europe, Mexico, the Caribbean and Canada. Recent destination additions include Jamaica, the Dominican Republic, Hilton Head, Monterey, Napa Valley, Myrtle Beach, Lake Tahoe, Virginia Beach, Charleston, Anchorage, Vienna, Brussels and Zurich.
Priceline Vacations` new all-inclusive service enables customers to pick their own price for a vacation that includes airfare and hotel, meals and beverages, entertainment, land and water sports equipment and instruction.
Priceline Vacations delivers priceline.com`s famous Name Your Own Price(R) savings, but with a twist. When they purchase a priceline.com vacation, customers can preview all the available hotels, along with pictures, maps, descriptions and amenities. Customers choose the exact hotel they want, how long they want to stay, their travel dates and, of course, the price they want to pay. Priceline.com`s participating quality airline partners pick the flight times.
Recent examples of Priceline Vacations savings include:
—Emi R paid $516 per person for round-trip priceline.com airline tickets from New York to Santo Domingo and 5 nights at a 4.5-star all-inclusive resort.
—Deborah C paid $574 per person for round-trip priceline.com airline tickets from Boston to Jamaica and 4 nights at a 4.5-star all-inclusive resort.
—Sheila K paid $664 per person for round-trip priceline.com airline tickets from Newark to Cancun and 5 nights in a Tulum-area, 4.5-star all-inclusive resort.
—Dallas M paid $750 per person for round-trip priceline.com airline tickets from Tulsa to Puerto Vallarta and 4 nights in a 4-star all-inclusive resort.
Vacation package prices are rounded to the nearest dollar and include applicable taxes and fees.
About Priceline.com - Priceline.com offers products for sale in two categories: a travel service that offers leisure airline tickets, hotel rooms, rental cars, vacation packages and cruises; and a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee. Priceline.com operates the retail travel Web sites LowestFare.com and Rentalcars.com. Priceline.com is part-owner of Travelweb LLC. Priceline.com licenses its business model to independent licensees, including pricelinemortgage and certain international licensees.