Norwalk-based The Priceline Group Inc. on Friday announced its acquisition of PriceMatch, a company with a cloud-based data and analytics platform for hotels. Terms of the deal were not disclosed.
PriceMatch uses proprietary algorithms on its cloud-based platform to deliver real-time data to hotels, giving them a deeper understanding of performance, according to a Priceline press release. PriceMatch will be integrated into BookingSuite, a recently launched division of The Priceline Group”™s Booking.com that helps accommodation providers grow their businesses and their brands through smart software and services.
“We are always looking for new ways to leverage data and technology to help our hotel partners be more successful in an increasingly digitally driven world,” Rob Ransom, director of BookingSuite, said in a statement. “With the addition of PriceMatch, BookingSuite partners will be able to access a powerful set of business intelligence tools to help them optimize performance through a platform that’s easy to use and manage.”
The Priceline Group, an online travel and related services company with international customers and partners, reported a 19 percent increase in gross profit from last year in its recently released first-quarter financials. The company”™s primary brands include priceline.com, KAYAK, agoda.com and rentalcars.com.
Last year, the company acquired OpenTable, an online restaurant reservation service, for $2.6 million.
