The answer has just come in as the Priceline Group disclosed in its 10-Q report for the second quarter that it paid $98 million, net of cash acquired, for “certain businesses which provide hotel marketing services.”
The Priceline Group is also slated to provide these businesses with substantial performance-based payments if they hit certain targets over the next four years.
Priceline took on a $24 million liability for these contingency payments in the second quarter, and the payments could max out at $90 million through 2018.
