Priceline, which bought two European travel firms in the past 18 months, is growing its bookings at a 70 percent organic rate in Europe and may buy other companies to boost that growth, said Priceline Chief Executive Jeffery Boyd at the Reuters Hotels and Casinos Summit held in Los Angeles.

"We are establishing a very serious business in Europe for Priceline," said Boyd. "It is a much more attractive market than the United States, and there's a bunch of things driving that," he said, citing increased Internet penetration in the region, a greater amount of vacation time given to Europeans, and their enthusiasm for travel.

Norwalk, Connecticut,-based Priceline reported $165 million of gross bookings for hotels in Europe in the third quarter of 2005, representing about 30 percent of its overall gross bookings.

Get the full story at Reuters