Priceline Europe Names CEO
EUROPEAN UNION, November 3, 2005. Stef Norden has been promoted to President and Chief Executive Officer of Priceline Europe. Mr. Norden will report to priceline.com's President and Chief Executive Officer, Jeffery H. Boyd.
Mr. Norden is Managing Director of Priceline Europe and was Chief Executive Officer of Bookings, BV, the Internet hotel reservation company acquired by priceline.com earlier this year. He will succeed Dr. Andy Phillipps, who will remain as a director of Priceline Europe's Board of Directors. Dr. Phillipps was a co-founder and CEO of Active Hotels.
"Stef Norden built one of Europe's fastest-growing Internet hotel services and possesses an extensive knowledge of the European hotel business environment and an entrepreneurial spirit that we expect will fuel future growth for Priceline Europe and priceline.com," said Mr. Boyd. "Andy Phillipps has been instrumental in building priceline.com's European presence and we appreciate his many contributions, wish him well in his future pursuits and look forward to his continued participation on our European board."
In announcing its 3rd quarter 2005 financial results, priceline.com pointed to strong results for Priceline Europe, which experienced high growth rates in traffic and bookings, particularly in Continental Europe, where online growth trends are generally strong. Priceline Europe recorded gross bookings of $165 million in the 3rd quarter 2005, which represents an organic growth rate of 75.5% compared to the same quarter in the prior year.
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