Priceline.com is a company that operates a website that helps users to obtain discount rates for travel -related items such as airline tickets and hotel stays. Priceline is not a direct supplier of these services; instead it provides comparative pricing from an assortment of service companies. It is headquartered in Norwalk , Connecticut , United States
Priceline.com first gained recognition for its unique offering called the "Name Your Own Price" system. In this mode, the travelers would name their price for airline tickets, hotel rooms and car rentals. The price would then be compared to undisclosed prices in the Priceline database, with the purchaser knowing the location and name of the rental car company, airline, or hotel only after the purchase had gone through, with no rights to cancel. Priceline's cut of the proceeds was the difference between the price an individual named and the price charged by the service establishment. More recently, however it has moved onto a traditional model where travelers are presented prices and are also told the name of the establishment. Travelers can still choose to name their price.
Priceline.com, in between, had also experimented with a number of different businesses such as selling gasoline and groceries under the Name Your Own Price model in 2000 . Priceline also got into the online auction business with Priceline Yard Sales, where individuals used Priceline system to haggle for various second hand items and trade them in person. Priceline also sold long distance telephone service and automobiles under the Name Your Own Price model.
Priceline returned to its original focus on travel products, such airfares and rental cars, with the addition of cruise sales and a special emphasis on hotel bookings in its commercials. During late 2007, Priceline permanently eliminated all booking fees on published airfares.
Priceline.com also owns Agoda , an online hotel reservations service which specializes in securing the lowest discount hotel prices in Asia Pacific . Based in Singapore with operations in Bangkok and the Philippines, Agoda's network includes 8,000 hotels in Asia and more than 49,000 worldwide. The staff of 200 provides a service similar to Priceline's. Priceline.com also is the parent company of the European organisation Booking.com.
The company began Beta testing early the next year, and Orbitz.com officially launched in June 2001.
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