Mark Okerstrom (currently CFO) will become the company's next CEO, replacing Dara Khosrowshahi, who is leaving to head Uber.
We think the firm remains well-positioned for long-term growth and see Priceline shares as slightly undervalued.
We are raising our fair value estimate of the narrow moat hotel operator, but see shares as overvalued today.
We see evidence in its growing loyalty, direct booking, and pipeline.
The online travel agency closes earlier than expected on its acquisition of Momondo, but our fair value estimate likely won't change much.
Hyatt needs Expedia's network more than the online travel agency needs the hotelier's room supply.
We plan to raise our fair value for the wide-moat firm as further food quality improvements and other initiatives should be able to drive growth in the medium term.
Entering the booking commission market greatly expands its long-term revenue opportunity.
Many discretionary companies have benefited from positive sentiment following the U.S. presidential election, and some still have attractive margins of safety.