The ratings on Priceline.com Inc. reflect the online travel agency's significant supplier concentration in airlines and hotels, low profit margins, acquisition-driven growth strategy, and participation in the highly competitive online travel market. These factors are only partially offset by the company's leading position in the consumer bid-based travel business and its good cash balances, which provide some cushion. Norwalk, Conn.-based Priceline.com is a provider of bid-based and retail travel services in the areas of airline tickets, hotel rooms, rental cars, vacation packages, cruises, and travel insurance. The availability of discounted airline tickets has been squeezed by the high load factors that traditional airlines are enjoying. Furthermore, the proliferation of discount airlines and the significant price reductions instituted by traditional airlines
