Oppenheimer Comments On Priceline's Last-Minute Booking App

Priceline Group Inc (NASDAQ: PCLN) on Thursday launched a new app called Booking Now, which is the first truly global app for spontaneous bookings.

Manish Hemrajani of Oppenheimer commented on Friday in a note that the new app lends itself to the evolving trends in booking, consumer and accommodation behavior along with the emergence of a new consumer segment, the “spontaneous booker.”

“Using ‘Tinder-like' mechanics, users are able to search nearby lodging matches by swiping left or right, based on their preferences,” Hemrajani wrote. “As the consumer landscape shifts toward an on-demand economy, we expect this new Priceline feature to accommodate its users on a more personalized level.”

Hemrajani adds that the new app will not replace the company's already existing Booking.com app, but will provide a “slimmed down” version of the car app. The analyst adds that Booking Now may even supersede the full-service app.

Bottom line, the app caters to a small but growing group of travelers and should be viewed positively.