Economy

Priceline is changing its name

Priceline is changing its name

Priceline Group is now called Booking Holdings.

Priceline, best known in the USA for its now-defunct name-your-own-price offer promoted by actor William Shatner, bought Booking.com in 2005 for about $133 million.

The company will lose its PCLN ticker and be listed on Nasdaq as BKNG starting Tuesday. "Over the last two decades, our business has expanded from just Priceline.com, operating exclusively in the United States, into six primary brands with headquarters around the globe", adding that the company operates "in more than 220 countries and territories in over 40 languages". Rebranding the parent company as Booking Holdings reinforces for investors that Booking.com is the center of the company, Chief Executive Officer Glenn Fogel said in an interview.

The unit has more than 1.5 million properties, the company said.

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Priceline made its market debut in 1999 as a company that owned. Other Booking brands include Kayak and OpenTable.

Priceline and its competitors have also beefed up their listings of vacation rentals in recent years as Airbnb and such accommodations, in general, became more popular.

Priceline isn't the only company that has renamed itself to reflect a changing business model.


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