Are Google's Travel Plans Too Ambitious?
On April 8, The Wall Street Journal reported that Google appears to be moving more into the travel business than ever before. This move by the Internet search giant may seem like a surprise to some, but it isn't so far-fetched when you consider the other types of areas the company's ventured into. The big question for investors moving forward is not whether Google will be successful it likely will be but rather, how its move will impact major travel sites like Priceline.com and Expedia. Travel is a big business and makes investors a fortune! Currently, the greatest success story in online travel appears to be Priceline.com. Over the past three years alone, the company saw its revenue grow 56% from $4.4 billion to $6.8 billion, driven largely by an increase in room nights sold. Expedia has also done reasonably well, as shown by the 38% jump in revenue during the same timeframe from $3.4 billion to $4.8 billion.