Priceline Group CEO doesn’t think much of Expedia’s acquisition strategy
We acquire the good stuff and they acquire distressed companies.
Although he didn’t put it as crudely, this was Priceline Group CEO Darren Huston’s message about his company’s divergent acquisition strategy when measured against that of Expedia Inc.
Asked on CNBC’s Squawk Box about Expedia Inc.’s acquisition strategy and whether the Priceline Group was done with large acquisitions such as those it did with OpenTable last year and Kayak in 2014, Huston said the Priceline Group has a “slightly different approach” in that it focuses “premium” brands, new competencies or geographic expansion.
Huston, speaking from Amsterdam where Priceline’s Booking.com unit is based, contrasted that approach with Expedia’s supposed penchant for “doubling” or “tripling down” on the “same” brands.