Priceline reports hike in profits

The US giant, which owns Booking.com, posted a 26% rise in revenue to $2.1 billion and a 34% increase in booking turnover up $13,5 billion.

Priceline chief executive Darren Huston said: “The group delivered market-leading growth from both a top line and profitability perspective.”

The company announced the acquisition of a stake in China’s biggest OTA Ctrip last week.