Mao Tu Ying will now be TripAdvisor's brand in China, as well as for Chinese-speaking users in Hong Kong and Taiwan
Ctrip is also letting Priceline acquire its American depositary shares in the open market that would increase its stake in Ctrip to 15%.
The hyper-competitive OTA market in China welcomes a new entrant with news that HNA Group and NetEase are combining to launch a brand-new business.
In the rough and tumble China travel market U.S.-based OTAs are grappling to craft viable long-term strategies while local OTAs like Ctrip are playing hard.
Net revenues in increased by 115.9% while gross bookings increased by 116.9% year-over-year for Tuniu in Q1 2015.
Chinese OTAs have jointly inaugurated an incentive point system for tour guides at the launch of the Respectful Service and Value Awards held in Beijing.
HNA has signed a partnership agreement with Netease’s subsidiary Lede Technology in Hangzhou to form a new online travel company.
Investment in China’s tourism industry has breached the trillion yuan mark this year and is expected to exceed three trillion yuan in the next three years.