Daniel Kurnos on Priceline Group Inc (PCLN) and OpenTable Inc (OPEN) Acquisition

Daniel Kurnos, a senior analyst at Benchmark Company, discussed Priceline Group Inc (NASDAQ:PCLN) on CNBC ahead of the earnings and pointed out various interesting things in the company and especially citing why they think the company has made interesting moves in recent times through acquisitions. The company recently acquired OpenTable Inc (NASDAQ:OPEN).

Priceline.com Inc (NASDAQ:PCLN)

Priceline Group Inc (NASDAQ:PCLN) is an established company that is present in different business segments within the travel industry. The company is expected to report strong growth in revenue at 28% compared to the figures recorded the same quarter last year.

According to Kurnos, talking points for established companies such as Priceline don’t change too much from quarter to quarter. However, the company’s acquisition of OpenTable Inc (NASDAQ:OPEN) and its investment in Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP) will be important things to look out for in the second-quarter earnings.  Furthermore, he also noted that Booking.com, which is Priceline’s hotel reservation platform, is making positive steps in China and even its growth in Asia and internationally is interesting. “Booking.com is making headways domestically, growing very strongly in Asia and internationally,” he observed.

Regarding Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), Kurnos noted that it allows Priceline Group Inc (NASDAQ:PCLN) the opportunity to penetrate the Chinese market, which is one of the world’s fastest growing markets and popular destination for tourists.

Concerning whether Priceline Group Inc (NASDAQ:PCLN) has the money needed to take its brand acquisitions to the next level, Kurnos noted that they have the money, and even their acquisition of OpenTable comes as an interesting play. He also said that OpenTable Inc (NASDAQ:OPEN) is a brand that the company would be interested in taking to the next level, especially internationally where it has not been successful.

“Priceline has a long history of success taking standalone brands to the next level, particularly on an international basis, where OpenTable was struggling, and it would really be interesting to see as well if they ever will try to integrate Visa reservation into their booking platforms [...],” he said.

Priceline Group Inc (NASDAQ:PCLN) entered into an agreement to acquire OpenTable Inc (NASDAQ:OPEN) for $2.6 billion to in June.

Disclosure: none

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