Priceline CEO dismisses Expedia’s recent acquisition spree

Expedia has been on an acquisition spree recently and has consolidated the OTA market to the point where there’s now only two real players: Expedia and Priceline. When asked about Expedia’s acquisition spree in an interview, Priceline CEO Darren Huston dismissed Expedia’s strategy of doubling down or tripling down on the same businesses” while highlighting his own company’s focus on quality rather than quantity. 

Priceline Group CEO Darren Huston is apparently not a fan of competitor Expedia’s acquisitions. In a brief interview with CNBC’s Squawk Box, Huston was asked if there was a difference in strategy between his company and Bellevue, Wash.-based Expedia Inc. He responded, “I do think we have a slightly different approach … Our focus really has been on premium brands and things that can add benefit to the Group overall. New competencies. New channels. New geographies.” That, he implied, is in direct contrast to Expedia’s approach of, “doubling down or tripling down on the same businesses.” Expedia announced last month it was buying Orbitz, following Expedia’s acquisition of Travelocity. Huston says Priceline’s strategy — which includes the acquisition of Seattle’s boutique hotel-focused Buuteeq, the restaurant reservation service OpenTable, and most recently loyalty-point hotel booking engine Rocketmiles — has “worked very well for us.”