Evidence receipt / evaluation
Published · transcript-backedSpeaker unverified: evaluation
26 Jul 2017 Acquired Booking.com with Jetsetter & Room 77 CEO Drew Patterson
“One even better than that which is it has a negative working capital cycle. Because I collect money from the consumer when I sell this and then I remit funds to the hotel 30 days after you stay and if it’s a two-month average booking window, I'm holding everyone’s cash for 90 days.”
— Speaker unverified
Source trail
Everything needed to verify it.
- Speaker
- Speaker unverified
- Attribution
- Not verified from this transcript
- Claim type
- evaluation
- Recorded
- 26 Jul 2017
- Publisher
- Acquired
Transcript context
…Wow. If you can make this work, this is even better business model like it has the best of being a retailer and that you get to set the price and essentially control the inventory. But also, the best of a marketplace where you don’t take any risk on the inventory. Exactly. One even better than that which is it has a negative working capital cycle. Because I collect money from the consumer when I sell this and then I remit funds to the hotel 30 days after you stay and if it’s a two-month average booking window, I'm holding everyone’s cash for 90 days. Okay, so that's the merchant model. That's what Expedia and the US guys have. Now, Booking has the agency model. What’s that?…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.