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EXHIBIT 99.1
[GRAPHIC]
[PRICELINE.COM(R) LOGO]
Goldman Sachs Internet
New Media Conference
May 21, 2003
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 1
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE.COM WOULD LIKE TO REMIND YOU THAT THIS PRESENTATION CONTAINS FORWARD
LOOKING STATEMENTS, WHICH ARE MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE FORWARD-LOOKING
STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND ARE SUBJECT TO CERTAIN
RISKS, UNCERTAINTIES AND ASSUMPTIONS THAT ARE DIFFICULT TO PREDICT; THEREFORE,
ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED, IMPLIED OR FORECASTED
IN ANY SUCH FORWARD-LOOKING STATEMENTS.
EXPRESSIONS OF FUTURE GOALS AND SIMILAR EXPRESSIONS REFLECTING SOMETHING OTHER
THAN HISTORICAL FACT ARE INTENDED TO IDENTIFY FORWARD LOOKING STATEMENTS. FOR A
LIST OF FACTORS THAT COULD CAUSE PRICELINE.COM'S ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS, PLEASE REFER
TO THE RISK FACTORS IN PRICELINE.COM'S MOST RECENT FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION. UNLESS REQUIRED BY LAW, PRICELINE.COM UNDERTAKES NO
OBLIGATION TO UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS, WHETHER AS A
RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
THIS PRESENTATION SHOULD BE READ IN CONJUNCTION WITH PRICELINE.COM'S AUDITED
FINANCIAL STATEMENTS AND THE NOTES THERETO FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION ON FORM 10-K AND QUARTERLY FINANCIAL STATEMENTS FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION ON FORM 10-Q.
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 2
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
AGENDA
- Hotels
- Product Diversification
- 2003 Goals
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 3
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE REVENUE
[CHART]
REVENUE ($ IN MILLIONS)
<Table>
Q2 01 $ 364.8
Q3 01 $ 302.0
Q4 01 $ 235.3
Q1 02 $ 261.9
Q2 02 $ 304.5
Q3 02 $ 240.0
Q4 02 $ 197.3
</Table>
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 4
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE OPAQUE AIR
Low retail fare
environment
Consumer
expectation for
absolute dollar
savings
Offers that are too
low
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 5
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
LOW COST CARRIERS
[SPIRIT AIRLINE LOGO]
[JETBLUE AIRWAYS LOGO]
[SOUTHWEST(SM) LOGO]
[AIRTRAN AIRWAYS LOGO]
[ATA LOGO]
- LCC's current 25% share of domestic RPMs expected to grow to 40% within
next few years
- LCC NETWORK OVERLAPS MAJORS IN 80% OF O&D'S BY REVENUE
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 6
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE OPAQUE AIR
Low retail fare
environment Capacity Cuts
Low Bind
Consumer
expectation for + = Fewer
absolute dollar Tickets Sold
savings
Less Unfilled Seats
Offers that are too
low
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 7
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE OPAQUE AIR
[CHART]
BIND RATE
<Table>
2Q01 $ 57.2%
3Q01 $ 53.9%
4Q01 $ 40.5%
1Q02 $ 41.7%
2Q02 $ 40.4%
3Q02 $ 36.9%
4Q02 $ 27.8%
</Table>
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 8
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE AIR
[CHART]
TICKETS
<Table>
2Q01 1,435,936
3Q01 1,183,981
4Q01 840,191
1Q02 866,643
2Q02 921,201
3Q02 643,659
4Q02 468,926
</Table>
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 9
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS
[CHART]
ROOM-NIGHTS
<Table>
2Q01 680,604
3Q01 879,922
4Q01 789,638
1Q02 909,107
2Q02 1,089,586
3Q02 1,144,988
4Q02 961,124
</Table>
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 10
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE
HOTELS
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 11
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS: BEST PRICES ON INTERNET
- Priceline consistently delivers significant discounts over Expedia,
Hotels.com and Travelocity
- Priceline's median customer savings are:
- 46% vs. Expedia
- 46% vs. Hotels.com
- Priceline backs up savings claims with a best price guarantee
- If you do find a better price online than you paid at Priceline, we
will refund the difference
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 12
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS: QUALITY ACCOMMODATIONS
- Only major Internet site with corporate participation from every major
U.S. hotel company
- More merchant hotels (9K+) than any other site, including Hotels.com and
Expedia (PhocusWright)
- Stringent and consistent star rating system. A recent internal study
found:
- Hotels.com rated the same hotel higher 72% of the time
- Priceline compares favorably to Expedia and AAA
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 13
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS: QUALITY CUSTOMER EXPERIENCE
- Priceline delivers high quality hotels for the best customer experience
- 92% of Priceline's hotel customers said their Priceline hotel experience
met or exceeded their expectations in our most recent customer
satisfaction survey
- 55% said that experience exceeded expectations
- 37% said that experience met expectations
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 14
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
HOTEL ADVERTISING CAMPAIGN
- Launched in Q1
- Goals
- Break through savings claim clutter
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 15
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
SAVINGS CLAIM CLUTTER
[GRAPHIC]
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 16
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
"Our own pricing surveys confirm the Internet rooms do indeed sell at
a discount, although we found an average spread of 5%-10%
when we compared Internet merchants to Supplier-Direct central
reservation systems (price quote by phone)"
- JAKE FULLER, THOMAS WEISEL
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 17
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
HOTEL ADVERTISING CAMPAIGN
- Launched in Q1
- Goals
- Break through savings claim clutter
- Demonstrate ease of use of product
- Consumer Empowerment
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 18
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS
- Detailed maps with precisely defined zones
- - SELECT THE AREAS WHERE YOU WANT TO STAY
Select the areas in New York City (CHANGE CITY) where you want to stay. You'll
always stay in a nationally recognized name-brand or quality independent hotel.
Improve your Chances - Select 2 or More Areas Below:
- - Lower Manhattan AREA DETAILS
- - Midtown East AREA DETAILS
- - Midtown South AREA DETAILS
- - Midtown West AREA DETAILS
- - Upper East Side AREA DETAILS
- - Upper Midtown - Central Park South AREA DETAILS
- - Upper West Side AREA DETAILS
SEE MAP BELOW
[GRAPHIC]
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 19
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
HOTEL ADVERTISING CAMPAIGN
- Launched in Q1
- Goals
- Break through savings claim clutter
- Demonstrate ease of use of product
- Consumer Empowerment
- Assure customer of high quality
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 20
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS
- Detailed star rating descriptions
- - SELECT A QUALITY LEVEL FOR YOUR HOTEL
To find out more about priceline's hotel quality ratings, CLICK HERE.
- - 5-STAR LUXURY * * * * *
- - 4-STAR DELUXE * * * *
- - 3-STAR UPSCALE * * *
- - 2 1/2-STAR MODERATE-PLUS * * 1/2
- - 2-STAR MODERATE * *
- - 1-STAR ECONOMY *
PRICELINE'S 3 STAR HOTELS
3 STAR HOTEL EXAMPLES:
The hotel brands shown below are for example only and may not be partnered with
priceline.com. You may get another name-brand or independent hotel of equivalent
quality.
- - Hilton
- - Hyatt
- - Marriott
- - Embassy Suites
- - Sheraton
3 STAR HOTELS WILL HAVE THE FOLLOWING AMENITIES:
[GRAPHIC] Remote Control TV with Premium Channels
[GRAPHIC] Telephone with Voicemail
[GRAPHIC] Radio Alarm Clock
[GRAPHIC] Iron and Ironing Board
[GRAPHIC] Hairdryer
[GRAPHIC] Business Services
[GRAPHIC] 24 Hour Front Desk
[GRAPHIC] Restaurant
[GRAPHIC] Room Service
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 21
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
HOTEL ADVERTISING CAMPAIGN
- Launched in Q1
- Goals
- Break through savings claim clutter
- Demonstrate ease of use of product
- Consumer Empowerment
- Assure customer of high quality
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 22
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 PERFORMANCE
- Record 1.2 million room-nights sold in Q1 '03
[CHART]
ROOM-NIGHTS
<Table>
2Q01 57.4% YR/YR
3Q01 67.1%
4Q01 114.9%
1Q02 110.0%
2Q02 60.1%
3Q02 30.1%
4Q02 21.7%
1Q03 35.3%
</Table>
HOTEL ADVERTISING CAMPAIGN
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 23
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 RESULTS
[CHART]
4Q02 TO 1Q03 SEQUENTIAL RN GROWTH
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 24
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 RESULTS
[CHART]
4Q02 TO 1Q03 SEQUENTIAL RN GROWTH
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 25
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 RESULTS
[CHART]
4Q02 TO 1Q03 SEQUENTIAL RN GROWTH
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 26
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 RESULTS
[CHART]
4Q02 TO 1Q03 ABSOLUTE SEQUENTIAL RN
GROWTH
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 27
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 RESULTS
[CHART]
4Q02 TO 1Q03 ABSOLUTE SEQUENTIAL RN
GROWTH
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 28
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRICELINE HOTELS Q1 RESULTS
[CHART]
4Q02 TO 1Q03 ABSOLUTE SEQUENTIAL RN
GROWTH
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 29
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
PRODUCT
DIVERSIFICATION
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 30
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
ONLINE TRAVEL OPPORTUNITY
[CHART]
GROSS BOOKINGS
Source: CSFB Research
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 31
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
CONTINUED DIVERSIFICATION
- Supplement core Hotel growth by diversifying away from opaque Air through:
- Lowestfare.com retail initiatives:
1. Satisfy unbound priceline.com customers that would've gone elsewhere
2. Cross-sell hotel and rental car to retail purchasers
3. Build bookings and awareness for Lowestfare.com
- Vacations
- Opaque, GOGO Worldwide Vacations (Liberty Travel)
- Rental Cars
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 32
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
RETAIL REHABILITATION
[GRAPHIC]
PROVIDED BY
- GREAT DEALS FOR YOUR TRIP lowestfare.com
While we couldn't find an airline partner willing to accept your specific
request, we found these great deals for your trip from Lowestfare.com where
you can choose your flight times and airline. All prices shown include
taxes and fees.
NEW YORK CITY TO LOS ANGELES - OTHER NEARBY AIRPORTS FROM $220
DEPART: Tue, Mar 21 RETURN: Tue, Mar 28 - OTHER TRAVEL DATES FROM $217
<Table>
<Caption>
Per Ticket Price
(Includes taxes & fees) Airports Airline Stops Flight Times
- ----------------------- -------- ------- ----- ------------
Web Fare JFK to LAX Continental Airlines 0 6:45am - 10:50am
$ 290
Choose LAX to JFK Delta Airlines 1 12:25pm - 10:30pm
- ---------------------------------------------------------------------------------------------------
JFK to LAX Continental Airlines 0 6:45am - 10:50am
$ 290
Choose LAX to JFK Delta Airlines 1 12:25pm - 10:30pm
- ---------------------------------------------------------------------------------------------------
JFK to LAX Continental Airlines 0 6:45am - 10:50am
$ 290
Choose LAX to JFK Delta Airlines 1 12:25pm - 10:30pm
- ---------------------------------------------------------------------------------------------------
$ 290 JFK to LAX Continental Airlines 0 6:45am - 10:50am
</Table>
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 33
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
TRAVEL DIVERSIFICATION
- 71% of all booked offers from services other than opaque Air
[CHART]
% BOOKED OFFERS
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 34
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
RETAIL GROSS BOOKINGS
- $10 Million in Q4
- $21 Million in Q1
- Q4 to Q1 opaque ticket decrease: 29.7K
- Q4 to Q1 retail ticket increase: 26.1K
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 35
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
2003 FINANCIAL GOALS
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 36
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
2003 FINANCIAL GOALS
- 25%+ yr/yr growth in Hotel room-nights
- Year/year hotel revenue up approximately 37% in Q1
- Year/year hotel revenue up approximately 35% in April
- 70% of booked offers to come from services other than opaque Airline
product (already reached target in Q1)
- Year/year growth in revenues/bookings in second half of year
- Margin expansion
- Year/year growth in full year EPS
- 2-3 cents per share (pre-split) in Q2 (GAAP)
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 37
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[PRICELINE.COM(R) LOGO] [GRAPHIC]
TANGIBLE ASSETS
- Cash
- NOL
- Investment in TravelWeb
- Investment in PricelineMortgage
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 38
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[GRAPHIC]
[PRICELINE.COM(R) LOGO]
CONFIDENTIAL INFORMATION - Property of PRICELINE.COM incorporated.
All Rights Reserved. 5.20.03 Page 39