July 31, 2018 View in browser

Editor's Note

Booking Holdings dominated the news this week thanks to a confluence of events. First, Executive Editor Dennis Schaal wrapped up a multi-year project telling the story of the Priceline acquisitions that created Booking.com. We are calling it "travel's greatest acquisition," and we back that up with an exhaustively reported oral history. It's a great long read (18,000 words to be precise) for the weekend.

As if to shift attention from past to present, Booking Holdings announced — on the very day the oral history went live — that it would buy Australia's HotelsCombined. Analysts don't know quite what to make of the acquisition, but one thing is for sure: The company that emerged from those deals back in 2004 and 2005 is now a travel industry giant that demands attention.

P.S. Speaking of emerging companies that demand attention, we think you'll enjoy reading our CEO's annual post-retreat letter about Skift team culture.

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Top Stories
The Oral History of Travel’s Greatest Acquisition: Booking.com

This is the oral history of Priceline's two deals — the acquisitions of Active Hotels and Bookings B.V. — that created Booking.com, and continue to shape the course of online travel and the competitive landscape today. The twin transactions were among the greatest Internet deals of all time, and their lessons are relevant to startups and dealmakers in any industry.


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Booking.com is Booking Holdings' favored child, but with the addition of HotelsCombined, it is apparent that the parent company still sees plenty of opportunity for its Kayak unit in metasearch worldwide. This deal will help Kayak expand in Asia Pacific, and will give HotelsCombined additional resources as well.


Analysts Are Puzzled Why Booking Holdings Acquired HotelsCombined

The deal surprised analysts, some of whom didn't see an obvious logic for it. Yet one thing is sure: Online hotel sales are a bit like an old-fashioned butter market. A big chunk of butter changes hands multiple times and everyone gets their hands greasy.


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Skift Table

This week at Skift Table we did a deep dive into the future of tipping, traipsed through farms in Puerto Rico, and asked the age old question "why do I have to wait for my friends to sit?" It's great coverage of the restaurant industry you won't find anywhere else and another good reason to register now for Skift Restaurants Forum.

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