Just read through some of Priceline's announcements and it looks like they've been buying into C-trip quite a bit. C trip is China's answer to Flight Centre and has been doing very well. Priceline recently put another $500m into C-trip to take its holding to $1.9bn in convertible bonds.
The cross promotion is mostly for hotels and booking.com/agoda.com growth in China. It's also funneling Chinese travelers onto the Priceline platforms.
Priceline has a market cap of US$65bn
Priceline has revenue of US$9bn and profit of US$2.5bn
Ctrip has a market cap of US$13.7bn
Ctrip has revenue of US$1.5bn and profit of US$343m
Flight Centre has a market cap of AU$3.5bn
Flight Centre has revenue of AU$2.2bn and profit of AU$213m
These numbers make FLT look like a minnow, however with $18bn in TTV coming through, it really is an international force.
It will be taken over soon enough!
Acquisition rumors, page-34
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