Expedia's (NASDAQ:EXPE) announcement of the purchase of Orbitz(NYSE:OWW) for $1.34Bn on February 12th, 2015, triggered a nice run for online travel agencies such as Priceline (PCLN) and Meta Search websites such as TripAdvisor (NASDAQ:TRIP). Clearly the market favored consolidation in a fragmented industry without significant moats. A week later, Priceline followed with stellar fourth quarter 2014 results, tacking on a whopping 8% to its share price, ending last week around $1,240. The run aside, Priceline remains the best investment in the online travel market based on its growth prospects in emerging markets, strategic acquisitions, return on equity and profit margins. Priceline owns Booking.com, (the largest online travel agency outside the US), Agoda.com, which caters to the Asian market, and Kayak, the largest Meta Search website. It also partners with CTrip for the Chinese market and acquired Opentable.com in 2014 gaining a strong foothold in the online dining reservation market. I own Priceline and plan to buy more on declines. Read more