Priceline.com buys Amsterdam internet hotel reservations service

Online travel and holiday service priceline.com has acquired Bookings B.V, the internet hotel reservation service, in a deal valued at £76m.

Priceline.com operates several travel sites, including activereservations.com, bookings.net and priceline.co.uk.

Amsterdam-based Bookings B.V works with chain and independently owned hotels in Europe and in other major cities, and is expected to retain its existing management team.

The deal follows priceline.com's acquisition of Cambridge-based Active Hotels in September 2004.

Active Hotels and Bookings B.V have negotiated rates with almost 18,000 properties.

Bookings was established in 1996 and has about 130 full-time staff. The company's revenues for the year ending 30 June are expected to be about £14m.

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