Priceline.com Introduces Enhanced Hotel Service With New Best-Price Guarantee

NORWALK, Conn.–(BUSINESS WIRE)–Aug. 7, 2002–Priceline.com(R) (Nasdaq: PCLN) today announced the launch of its enhanced Name Your Own Price(sm) global hotel service with a number of new features requested by customers, including priceline.com's first Best-Price Guarantee.
Priceline.com's hotel re-launch will be supported by a national radio ad campaign, featuring William Shatner, which starts today.
Our customers told us that they want two things in a priceline.com hotel room – great value and peace of mind, said priceline.com President and Co-CEO Jeffery H. Boyd. That's exactly what we've accomplished with our enhanced hotel product, which features over 8,000 quality name-brand and independent hotels in more than 1,300 cities and towns. As a priceline.com customer, you can be confident that you'll get the type of hotel you want in the part of town you choose. And, most important, your purchase will be backed by priceline.com's Best-Price Guarantee.
Priceline.com's enhanced hotel service, which covers the U.S., Europe, Canada, Mexico and the Caribbean, includes the following new features:

– Best-Price Guarantee. Priceline.com can deliver savings of up
to 50 percent or more over prevailing retail prices. However,
if within 48 hours after buying a priceline.com hotel room,
you find a lower available published price for the same hotel
and dates, priceline.com will refund you 100 percent of the
difference. See www.priceline.com for more details.

– Amenities Listings. Now, every hotel category, from 1-star to
5-star and resorts, shows the amenities that are standard for
that star category. Depending on the category, amenities
could include features like concierge, fitness center,
hairdryer, radio alarm clock, room service, restaurant, a
business center and more.

– Real Deals. So what kinds of deals are priceline.com
customers getting? With priceline.com's real deals feature,
you can see examples of the prices (and savings) actual
priceline.com customers are getting for specific types of
hotels in major cities and resort destinations.

– Summer Specials. Want to know where you can get the best
last-minute deals? How about some really special big-city (or
little town) hotel values. In a special section,
priceline.com has pulled together its best-deal cities, towns
and resorts according to the types of getaways most requested
by customers. Other categories are spoil-yourself resorts,
family getaways and air/hotel combos.

– Driving directions. Maps and text directions plot out the
fastest, best route to your priceline.com hotel.

Priceline.com's hotel service is easy to use and fast. Travelers provide the days they'll need rooms, the city and location in which they want to stay. After determining where they want to stay, travelers choose the type of hotel by entering the star rating or hotel category they want (1-star, 2-star, 2.5-star, 3-star, 4-star, 5-star, resort). Then the traveler enters the price he or she wants to pay for the room per-night. Priceline.com then works with its hotel suppliers to try to find a hotel in that star category willing to accept the traveler's price. Priceline.com hotel rooms can be booked up until 6:00 p.m. local hotel time for use that same night.
Customers who want to book a getaway complete with airfare can try priceline.com's new Name Your Own Price(sm) vacation package service. That service enables customers to see all of the available hotels in their desired destination, complete with hotel-specific descriptions and amenities. Customers can choose the exact hotel they want and choose a price that includes their desired hotel and round-trip airfare on the days they want to travel.

About Priceline.com

Priceline.com offers products for sale in four categories: a travel service that offers leisure airline tickets, hotel rooms, rental cars, vacation packages and cruises; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars; and a telecommunications service that offers long distance calling services. Priceline.com also owns the Internet domain names and trademarks of LowestFare.com, another Web-based travel site. Priceline.com licenses its business model to independent licensees, including pricelinemortgage and certain international licensees.