OpenTable Acquired By Priceline for $2.6 Billion
In a deal that closed on Friday, OpenTable was purchased by Priceline for a hefty $2.6 billion—46 percent more than its previous closing share price would have suggested—marking a sea change in the way that online travel companies are thinking about business. Gone are the days of providing services just for planning and booking; these days, the mightiest of OTAs are thinking about how they can also capitalize on travelers once they’re on the ground. See TripAdvisor, long known as the site you check for reviews before booking (or to pen your own upon return): it has also gotten into the restaurant reservations game with the recent acquisition of Lafourquette, a European site much like OpenTable. It all makes tons of sense. If you’re as selective about where you eat as you are about where you stay, you need to book your restaurants well before traveling. And for Priceline, that will come to the tune of 15 million total diners a month. As for what’s next? We’d put money on local excursion booking tools, which have fast gained traction in the digital travel booking space over the last year.
Nikki Ekstein is an Assistant Editor at Travel + Leisure and part of the Trip Doctor news team. Find her on Twitter at @nikkiekstein.