Priceline 2015 Annual Report Download - page 54

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Gross bookings resulting from reservations of accommodation room nights, rental car days and airline tickets made through our agency and merchant
models for the years ended December 31, 2015 and 2014 were as follows (numbers may not total due to rounding):
Year Ended December 31,
(in millions)
2015
2014
Change
Agency $ 47,969
$ 42,892
11.8%
Merchant 7,559
7,409
2.0%
Total $ 55,528
$ 50,300
10.4%
Agency gross bookings are derived from travel-related transactions where we are not the merchant of record and merchant gross bookings are derived
from services where we are the merchant of record. Agency gross bookings increased 11.8% for the year ended December 31, 2015 , compared to the year ended
December 31, 2014 , primarily due to growth in gross bookings from Booking.com agency accommodation room night reservations, as well as growth in gross
bookings by priceline.com and rentalcars.com agency retail rental car reservation services, and priceline.com and agoda.com agency retail hotel reservation
services, partially offset by lower retail airfares. Merchant gross bookings increased 2.0% for the year ended December 31, 2015 , compared to the year ended
December 31, 2014 , primarily due to increases in gross bookings by merchant retail hotel reservation services for Booking.com and priceline.com,
rentalcars.com's rental car reservation service, and priceline.com's Express Deals ® hotel reservation service as well as the inclusion of our Rocketmiles hotel
reservation service since its acquisition in February 2015. These increases were partially offset by declines in gross bookings by priceline.com's Name Your Own
Price ® reservation services and the impact of the stronger U.S. Dollar on agoda.com's merchant retail hotel reservation service. The U.S. Dollar was significantly
stronger against the Euro and many other currencies throughout 2015 compared to 2014, which significantly adversely affected the growth of our agency and
merchant gross bookings, expressed in U.S. Dollars.
Accommodation room nights, rental car days and airline tickets reserved through our services for the years ended December 31, 2015 and 2014 were as
follows:
Year Ended December 31,
(in millions)
2015
2014
Change
Room Nights 432.3
346.0
24.9 %
Rental Car Days 59.9
51.8
15.6 %
Airline Tickets 7.7
7.8
(1.6)%
Accommodation room night reservations increased by 24.9% for the year ended December 31, 2015 , compared to the year ended December 31, 2014 ,
due to an increase in Booking.com, agoda.com and priceline.com accommodation room night reservations and the inclusion of Rocketmiles accommodation room
night reservations since its acquisition in February 2015. Booking.com included over 850,000 properties on its website as of February 15, 2016, which included
approximately 390,000 vacation rental properties (updated property counts are available on the Booking.com website), compared to over 635,000 properties
(including approximately 269,000 vacation rental properties) a year ago. In September 2015, Booking.com changed the way it calculates property counts. As a
result, properties that are contracted with Booking.com but temporarily do not have availability on Booking.com (for example properties that are closed during
their off-peak season or for renovations) will remain included in Booking.com's property counts during these temporary periods. Booking.com previously excluded
properties that were temporarily unavailable for booking. We believe that continuously including them provides a more consistent and useful property count.
Rental car day reservations increased by 15.6% for the year ended December 31, 2015 , compared to the year ended December 31, 2014 , due to an
increase in price-disclosed rental car day reservations for rentalcars.com and priceline.com, partially offset by a decline in priceline.com's Name Your Own Price ®
rental car day reservations.
Airline ticket reservations decreased by 1.6% for the year ended December 31, 2015 , compared to the year ended December 31, 2014 , due to a decline in
priceline.com's Name Your Own Price ® airline ticket reservations.
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