Priceline?s Booking.com customers will now be able to directly book hotel rooms on travel review website operator TripAdvisor.
TripAdvisor shares jumped 24 percent to US$82.85 and Priceline fell two percent to US$1,317.69 immediately after the announcement, Reuters reported.
TripAdvisor introduced an instant booking feature last year that allowed travellers to book a hotel directly from its website instead of getting directed to a third-party booking site in an effort to improve conversion rate and boost revenue.
Priceline and Expedia had initially declined to join TripAdvisor?s instant bookings platform, fearing the move would increase competition.
But the instant booking option got a big push after Marriott International agreed to list its hotels on TripAdvisor?s platform in June.
?Millions of TripAdvisor users coming to the site to plan, compare prices and book their trip will be able to instantly book options from The Priceline Group?s global hotel inventory,? said TripAdvisor chief executive Stephen Kaufer.
Priceline and TripAdvisor did not disclose how they would share revenue generated from the deal, but said the partnership in time would likely include Priceline?s other websites Priceline.com and Agoda.com.
Reuters said the travel review site had plenty of users but its dependence on advertising made it an internet laggard.
Sharing business with the hotel-booking powerhouse gives it fee revenue and a shot to become a one-stop tourist site.
TripAdivsor opens bookings from Booking.com customers
