Priceline Group Inc. on Friday unveiled plans to acquire hotel-data company PriceMatch, the latest deal for the acquisitive online booking company.
The terms of the deal weren’t disclosed.
Priceline said it would integrate PriceMatch into BookingSuite, which is a recently launched division of its Booking.com business.
PriceMatch’s cloud-based platform delivers real-time data to hotels through tailored algorithms that account for factors like a hotel’s reservation history, competitors’ prices and seasonality. According to PriceMatch, its clients have on average seen a 7% increase in RevPAR—or revenue per available room—which is a key metric for the hotel industry.
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