RealTime IT News

Priceline.com Sets $1 Million Sales Record

"Name your price" e-tailer Priceline.com Thursday said it reached three sales milestones, including achieving $1 million worth of sales on Wednesday.

Priceline said its travel services unit recorded its first million-dollar sales day for leisure airline tickets on April 28. Also on the same day, the company sold a record 5,000-plus tickets in a single 24-hour period, equaling roughly one ticket sold every 17 seconds, beating the company's previous one-day record of 4,300 tickets, set last week. In addition, Priceline said that for the first time the travel service unit sold more than 25,000 airline tickets in a single seven-day period, up from its 12-month average of selling 6,200 tickets per week.

Previously this week the company announced other customer metrics for its other business units. In total, more 1 million unique consumers have used the Priceline.com service, which allows customers to bid on airline tickets, hotel rooms and mortgages. The company said it now averages over 300,000 new unique customers a quarter using one or more of priceline.com's services.

Priceline.com's said its hotel room service sold more than 75,000 rooms since the service launched in late October 1998, and now sells an average of over 5,000 rooms a week. Last week, the hotel service expanded, covering over 1,100 cities, town and resorts in 50 states. More than 4,250 brand-name hotels have signed up with the service to offer unsold rooms.

Priceline.com's home financing service, launched in the beginning of the year, received more than 1 million requests by consumers looking to name their interest rates and terms for a home mortgage, refinancing or a home equity loan. The service has enabled customers to obtain more than $125 million in approved requests for home financing.

The company's recently began a trial of car retailing, offered now on a cash-sales-only test basis in the New York metro area. Priceline has sold more than $11 million worth of new cars since the beta test began in the summer of 1998. The service allows buyers to save on costs by naming their own price for a specific car.