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DARREN HUSTON – SPEAKS ON APT RENTALS

Darren Huston, says the company has the largest inventory on the planet, and discusses what customers really want out of hotel and restaurant services. <br>

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DARREN HUSTON – SPEAKS ON APT RENTALS

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  1. Darren Huston - Speaks on APT Rentals Simon - CEODarren Hustontelling us in the last hour that the Priceline business, an underlying sense, remains strong and that the euro and the Euro zone weakness is why he's warning of slower growth down Huston. Also, emphasizing the boots on the ground effort underway way in Europe and its key booking dot com franchise to boost non hotel inventory. BMB style alternative lodging like apartments and villas. Take a listen.

  2. Darren Huston - We want to be the world's leader in online booking of accommodation. So we've been working on building up from the biggest hotels now into apartments and pensions and various other forms of accommodations. We have the largest inventory on the planet. We're growing our inventory year over year, over 50 percent. And this non hotel accommodation, these apartments, these special places to stay are things that our customers want. I would like to share with people that with the advent of mobile and things becoming more local, this next wave of the Internet is all about bringing technology into local marketplaces and taking the friction out of doing business all around the world. And this is what we're really excited about. It's no longer about just getting a booking. I'm booking dot com or a reservation on open table. It's about how can you improve the experience of the customer when they're looking, booking and experiencing the local products.

  3. Simon - So, Darren, can you break that down for us? Can you give us an example of what life will be like 10 years down the line? I mean, where does this take us?

  4. Darren Huston - Yeah, I think what it is like take an example of pay with opentable. You can sit at your restaurant table; see you've booked anOpentable.You're sitting in your restaurant. You've got your Smartphone out and you can literally see your tab on your Smartphone. I mean, this is happening today in New York and in San Francisco. Its goanna be all across the United States soon. And then when you're ready to leave, you just pay and leave. And they actually the restaurant loves it because the tables turn better. The waitresses and waiters love it because their tipping is a little bit better. But it just takes a lot of the friction out of the. Hey, I just had a great meal, but I've been sitting here waiting for 30 minutes to pay because I need to run. These are just some examples. And in the hotel experience, it's the same thing. It's like arriving at the train station in Brussels and saying, hey, I want to walk or do we want to take a cab?

  5. And having all of that stuff right in front of you to take those directions, to know where all the landmarks are, to already have tickets. Pre-booked so that you can go around the lines into the major attractions. It's all of these kinds of things. And if you think about the way the world has changed, we used to all just have computers at home or in our office. But now people everyone's walking around the computer in their pocket and young people, particularly millennial, are just expecting, you know, today it's Uber or pay with opentable. But tomorrow they're goanna expect that their phones will be able to do all sorts of things to just make being local a lot more interesting and fun than it is today.

  6. Simon - Darren Huston, the CEO and president of Priceline. Let it not be forgotten. He is one of the next twenty five on CNBC. Don't miss our coverage of the big gala tonight starting at 6:00 Eastern. Down in Houston, we'll be among the others. Among others will be honored at that event.

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