The Priceline Group has made a $60 million investment in Brazilian online travel company Hotel Urbano, signalling the start of a strategic partnership between the two companies.
Priceline will take a minority stake and will provide Hotel Urbano with access to its non South American inventory on an exclusive basis.
In addition Priceline will also become the preferred provider for Hotel Urbano’s worldwide packages.
"Brazil is a dynamic, fast growing market and both of us are growing very rapidly within this region," said Darren Huston, President and CEO of The Priceline Group.
"We are excited to partner with Hotel Urbano to help globalize their offering and let their customers experience the best of what both of us have to offer."
The tie-up follows a similar partnership and investment between Priceline’s biggest rival Expedia and South American travel company Decolar.
