Why Priceline is changing its name

Priceline Group changed its name to Booking Holdings on Wednesday to increase its brand awareness, according to CNBC.

The company currently has six brands: KAYAK, Booking.com, priceline.com, agoda.com, Rentalcars.com and OpenTable. The name change helps reflect the company's growing portfolio, CEO Glenn Fogel told CNBC.

"We want to have a name aligned with all the different things that we do," he said. "We are now doing things that enable people to book hotels, homes, apartments, rental cars, flights, dinner reservations. Booking Holdings unifies all of these different things."

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