profits surge to $1.9 billion

25th Feb 2011 profits surge to $1.9 billion

Online travel booking company has enjoyed a surge in profits to $1.9 billion for 2010 on the back of strong international sales.

The group’s 2010 operating profit came in at $786.8 million, up 67 percent on 2009. 

International operations contributed $1.4 billion to full-year gross profit, representing a 70 percent year-on-year increase.

Total revenues rose 32 percent to $3.08 billion.

Priceline president and chief executive Jeffery Boyd said: “The group’s worldwide hotel business performed well for the fourth quarter and full year 2010.


“High gross travel bookings growth rates were the result of continued penetration of new markets, like Asia-Pacific and South America, where economic growth and rapid online adoption are tailwinds for the business, and solid growth in core markets in Western Europe and North America. 

“The group’s air and rental car businesses also performed well under challenging market conditions and TravelJigsaw has made good progress with platform and website enhancements to grow our international rental car business.

“Going forward,,, and TravelJigsaw intend to continue building their brands, extending the reach of the group’s global hotel network and working together to achieve benefits of integration where appropriate.”


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