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Hotel revenues benefit to Priceline

Priceline reports impressive growth as its hotel partners continue to use promotional pricing to drive demand in retail channels and use the company's opaque services to bolster occupancy. The company said travel-bookings growth accelerated during the quarter when compared with weak results a year earlier amid the global recession. For the full year, the company earned $489.5 million. Priceline expects Q1 2010 revenue to grow between 23% and 27%. Analysts are expecting $584.8 million, an increase of 27% from first-quarter 2009 revenue.

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