NEW YORK— Priceline.com and Travelweb LLC have signed a distribution agreement that gives websites owned and operated by Priceline.com access to Travelweb’s network of more than 4,000 brand-name hotels and their net rate inventory. Under the agreement, Travelweb will become the exclusive provider of published-price, net rate inventory that will be available on both Lowestfare.com, the retail travel service operated by Priceline.com, and on Priceline.com. The companies said they expect to integrate Travelweb’s hotel inventory on these sites beginning in the second quarter 2003. Also as part of the agreement, Priceline.com will take an equity stake in Travelweb LLC through an $8.5 million investment and Priceline.com President and CEO Jeffery Boyd will assume a seat on Travelweb’s board of directors.
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