Priceline is the second largest online travel company in the world in terms of gross bookings.
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Measured by gross bookings, U.S.-based Expedia is the largest online travel company in the world.
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The analyst notes that over the last three years, Priceline has grown gross bookings at a 46% compounded rate.
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Asia-Pacific and South America contributed for a majority of acceleration in gross bookings that Priceline reported in Q4 2012.
Gross bookings from international markets as a percentage of total bookings have gone up from 55% in 2007 to around 78% in 2011.
Expedia saw gross bookings increase 19% to %7.95 billion as the total number of transactions hit 19.4 million, up 15% from a year ago.
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Benefiting from growth in hotel supply and Rentalcars.com, the company marked 30% growth in international gross bookings while domestic gross booking grew by 7%.
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International hotel bookings through Priceline.com and its subsidiary websites contribute nearly 60% of total gross bookings volume and nearly 67% to the consolidated operating income.
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Expedia is the biggest US online travel agency in terms of gross bookings, and the company has been focused on expanding its leadership position in international markets as well.
Fueled by robust growth in its hotel booking business, online travel agency Expedia posted a 13% increase in gross bookings and a 14% increase in revenues last quarter.
Also worth noting: Ju points out that Priceline has a higher percentage of its gross bookings and profits from hotels than other OTAs, which makes the company less subject to supply restrictions from rental car companies and airlines.
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The international markets formed 39% of gross bookings and 40% of total Q1 2012 revenues, and the company sees more than half of its gross bookings and revenues coming from the international points of sale in the near future.
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The gross online travel bookings in Europe accounted for 37.7% of the global online travel market in 2012.
The company has achieved gross margins of about 27% this year in its hotel segment compared to about 4% in airline bookings.
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