Travelers can still choose to name their price for airline tickets, hotel rooms, and rental cars. It is somewhat similar to Express Deal but instead of showing the geographical location within a perimeter, it provides the names of 3 hotels, and one of the hotels will be allocated after the payment is done. It claims that the price of the hotels are up to 50% off retail. Priceline offers a tool named Pricebreakers for Hotel bookings. It has also added a more traditional model, called Express Deals, where travelers have presented prices and a geographical perimeter within which the hotel will be located but are not told the name of the establishment. Priceline's profit from the proceeds is the difference between the price suggested by a customer and the one charged by the service provider. The sales are for opaque travel inventory details are disclosed only after the transaction is complete with no possibility of cancellation. While the purchaser can select a general location, service level, and price. Priceline first became known for its Name Your Own Price system, where travelers would name their price for airline tickets, hotel rooms, car rentals, and vacation packages. Įntrepreneur Michael Loeb assisted in the "creation and early funding". Braddock left in 2004, having helped take the company public in 1999. Braddock, Citicorp's #2, had come aboard as chief executive. Walker, who left the company in 2000, by which time Richard S.
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