Page 5 - Sphere No.12 (Aug 2004)

US-based e-tailer Priceline.com,
of which HWL is a major shareholder,
on May 3 reported that Q1 gross
travel bookings rose 46% year-over-
year to US$360.2 million. Revenues
were US$224.1 million, a 12% increase
over Q1 2003. Gross profit grew 31%
to US$43.4 million, compared to
US$33.0 million a year ago.
Priceline.com announced that it had
acquired 71.4% of the equity interests
in Travelweb.com, bringing its total
ownership to 85.7%. Travelweb has
supply agreements with more than
11,000 participating properties in the
Travelweb system, including its
founder hotels, Hilton,
Hyatt, InterContinental
Hotels Group, Marriott,
and Starwood, and has
distribution agreements
with a number of travel
websites, including
Orbitz.com.
Priceline has also entered
into an agreement to
purchase the remaining
14.3% outstanding equity
interest held by
InterContinental
Hotels Group at
a future date.
SPHERE 3
H U T C H I S O N U P D A T E S
In line with its strategy to expand in
Asia and Europe, A.S. Watson (ASW)
announced in June that it has acquired
Drogas , one of the Baltic States’ best-
known health & beauty retail business-
es operating in Latvia and Lithuania.
Nicknamed “The Baltic Tigers”, Latvia,
Lithuania and Estonia are the newest
members of the European Union (EU),
with a combined population of 7.3
million. Meanwhile, the Malaysian
unit of ASW on July 12 announced the
proposed RM14 million (approximate-
ly US$3.7 million) acquisition of Apex
Pharmacy from Apex Healthcare Bhd
(AHB), a Bursa Malaysia main board-
listed company.
Watsons Malaysia will also license
from AHB the exclusive right
to use the “Apex Pharmacy” trade
name to leverage its strong brand equi-
ty and large customer base. Currently,
there are 24 Apex Pharmacy stores
nationwide.
Nuance-Watson (HK) was highly
commended at the Raven Fox
Awards Ceremony for Travel-
Retail Excellence in Asia/Pacific
in five categories: Best Fragrances
& Cosmetics Travel Retailer;
Best Fashion, Leathergoods &
Accessories Travel Retailer; Best
Confectioner y & Food Travel
Retailer; Best Gifts Travel
Retailer; and, Best New Shop
Opening at an airport in
Asia/Pacific. The event was held
on May 20th at the Tax Free
Exhibition in Singapore.
Priceline Results
R E T A I L & M A N U F A C T U R I N G
ASW Increases Global Portfolio Applause