Priceline was the brainchild of a very creative thinker Jay Walker that has grown to be the best online accommodation ever in the travel agency and have a high level of competitive advantage than any other company in the industry. Although it was a new concept that has never been used before, other businesses in the travel agency did not like the method and feared that it would affect their business operations; so they was not willing to incorporate it to their business. However, not all companies felt the same way about the method and TWA and America West accepted the new idea. Since TWA and America West were not major agencies in the industry, Priceline business strategy was still in a slump to make a successful company. Therefore, Walker felt he was the main reason for the company lack of business progress so he instantly move himself as manager and CEO of the company and brought in Jeffery Boyd as CEO of the company. Even though he removed himself as CEO, Walker still own 49 percent of the company stake and still do to this day.
The upper management of
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The four major players in the industry are America Express Company, Expedia.com, and Carlson Company Inc., and Priceline.com. It has a low barrier to entry which makes it really easy for a new company, entrepreneur, or organization to enter the industry. The only thing these companies have to worry about is the high level of competition in the industry that is mainly centralized on the price of their product and trying to make it more affordable than your competitor. The travel agency industry is expected to see a major increase in competition due to the introduction of new websites created by private hotel chains like Hilton and other luxury hotels. This development will make the industry more difficult and more interested than