Exhibit 99.1

The Priceline Group Reports Financial Results for 4 ^th Quarter and Full-Year 2016

NORWALK, CT - February 27, 2017. . . The Priceline Group Inc. (NASDAQ: PCLN) today reported its 4 ^th quarter and full-year 2016 financial results. Fourth quarter gross travel bookings for The Priceline Group (the "Company", the "Group," "we," "our" or "us"), which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by its customers, net of cancellations, were $15.1 billion, an increase of 26% over a year ago (approximately 28% on a constant-currency basis).

The Group's gross profit for the 4 ^th quarter was $2.3 billion , a 21% increase from the prior year (approximately 24% on a constant-currency basis). International operations contributed gross profit in the 4 ^th quarter of $2.0 billion, a 23% increase versus a year ago (approximately 26% on a constant-currency basis). Net income in the 4 ^th quarter was $674 million , a 34% increase versus the prior year. Net income was $13.47 per diluted share, a 35% increase as compared to the prior year.

Non-GAAP net income in the 4 ^th quarter was $711 million, a 31% increase versus the prior year. Non-GAAP net income was $14.21 per diluted share, a 32% increase compared to $10.73 per diluted share a year ago. Adjusted EBITDA for the 4 ^th quarter 2016 was $869 million, an increase of 22% versus a year ago. The section below entitled " Non-GAAP Financial Measures " provides definitions and information about the use of non-GAAP financial measures in this press release, and the attached financial and statistical supplement reconciles non-GAAP financial information with the Group's financial results under GAAP.

For the full-year 2016 , the Group had gross travel bookings of $68.1 billion , a 23% increase compared to 2015 (approximately 25% on a constant-currency basis). The Group's gross profit in 2016 was $10.3 billion , a 20% increase from the prior year (approximately 23% on a constant-currency basis). International operations contributed full-year gross profit of $9.1 billion , a 22% increase versus the prior year (approximately 25% on a constant-currency basis).

The Group had GAAP net income for full-year 2016 of $2.1 billion , a 16% decrease versus the prior year. Net income was $42.65 per diluted share, a 14% decrease as compared to prior year. Net income for full-year 2016 was negatively impacted by a non-cash charge of $941 million recorded in the 3 ^rd quarter of 2016 related to an impairment of goodwill, which reduced net income per diluted share by $18.79.

Non-GAAP net income for full year 2016 was $3.3 billion, a 23% increase versus the prior year. Non-GAAP net income was $65.63 per diluted share, a 26% increase compared to $51.92 per diluted share a year ago. Adjusted EBITDA for 2016 was $4.1 billion, an increase of 19% over the prior year.

"The Priceline Group finished 2016 with a strong 4 ^th quarter, reporting accelerating growth in hotel room nights booked, with solid organic growth and attractive profit margins," said Glenn Fogel, Chief Executive Officer of The Priceline Group. "We also recorded accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams."

Looking forward to 2017, Mr. Fogel said, "We will continue to focus on growing our supply base to drive customer choice, innovating around the customer experience and investing efficiently in marketing to deliver profitable top-line growth."

 

Non-GAAP Financial Measures

The Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operating results.

To supplement the Consolidated Financial Statements, the Group uses the following non-GAAP financial measures: Adjusted EBITDA, non-GAAP gross profit, non-GAAP net income, non-GAAP net income per share and free cash flow. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with generally accepted accounting principles in the United States.

The Group uses non-GAAP financial measures for financial and operational decision-making and as a basis to evaluate performance and set targets for employee compensation programs. The Group believes that these non-GAAP financial measures are useful for analysts and investors to evaluate the Group’s ongoing operating performance because they facilitate comparison of the Group’s results for the current period and projected next-period results to those of prior periods and to those of its competitors (though other companies may calculate similar non-GAAP financial measures differently than those calculated by the Group). These non-GAAP financial measures, in particular adjusted EBITDA and non-GAAP net income are not intended to represent funds available for the Group's discretionary use and are not intended to represent or to be used as a substitute for operating income, net income or cash flow from operations as measured under GAAP. The items excluded from these non-GAAP measures, but included in the calculation of their closest GAAP equivalent, are significant components of our consolidated statements of operations and must be considered in performing a comprehensive assessment of overall financial performance.

Non-GAAP net income is net income with the following adjustments:

In addition to the adjustments listed above regarding non-GAAP net income, adjusted EBITDA excludes depreciation expense, interest income, interest expense and income tax expense and includes the impact of foreign currency transactions and other expenses.

We evaluate certain operating and financial measures on both an as-reported and constant-currency basis.  We calculate constant currency by converting our current-year period financial results for transactions recorded in currencies other than U.S. Dollars using the corresponding prior-year period monthly average exchange rates rather than the current-year period monthly average exchange rates.

The attached financial and statistical supplement includes reconciliations of the Group's financial results under GAAP to non-GAAP financial information for the three and twelve months ended December 31, 2016 and 2015.

Information About Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements reflect the views of the Group's management regarding current expectations and projections about future events and are based on currently available information and current foreign currency exchange rates. These forward-looking statements are not guarantees of future performance and are subject to 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 including, "may," "will," "should," "could," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," or "continue," reflecting something other than historical fact are intended to identify forward-looking statements.

The following factors, among others, could cause the Group's actual results to differ materially from those described in the forward-looking statements:

-- adverse changes in general market conditions for travel services;

-- the effects of increased competition;

-- fluctuations in foreign exchange rates and other risks associated with doing business in multiple currencies;

-- our ability to expand successfully in international markets;

-- our performance advertising efficiency;

-- any change by a major search engine in how it presents travel search results or conducts its auction for search placement in a manner that is competitively disadvantageous to us;

-- our ability to respond to and keep up with the rapid pace of technological change;

-- systems-related failures and/or security breaches;

-- adverse changes in the Group's relationships with travel service providers and restaurants;

-- the ability to attract and retain qualified personnel;

-- volatility in the price of our common stock; and

-- tax, legal and regulatory risks.

For a detailed discussion of these and other factors that could cause the Group's actual results to differ materially from those described in the forward-looking statements, please refer to the Group's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequently filed Quarterly Reports on Form 10-Q. Unless required by law, the Group undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About The Priceline Group

The Priceline Group (NASDAQ: PCLN) is the world leader in online travel and related services, provided to customers and partners in over 220 countries through six primary brands - Booking.com , priceline.com , KAYAK, agoda.com , Rentalcars.com , and OpenTable . The Priceline Group’s mission is to help people experience the world.  For more information, visit PricelineGroup.com and follow us on Twitter @PricelineGroup.

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For Press Information : Leslie Cafferty (203) 299-8128 leslie.cafferty@pricelinegroup.com

For Investor Relations : Michael Noonan (203) 299-8489 michael.noonan@pricelinegroup.com

 

The Priceline Group Inc.