China’s largest online travel agency, Ctrip, has acquired Trip.com, the travel recommendation service founded and led by Travis Katz.
Ctrip's net revenue rose 42% to RMB 7.9 billion in the third quarter of 2017. Air tickets sold by the company's international unit continued to grow at a triple-digit percentage rate.
For the latest fiscal quarter ended September 30, 2017, revenue increased 79.4% YoY to $152.9 million.
Shortly before the opening of the 19th CPC National Congress, the Chinese government announced an ambitious Five-year Plan for the inflight internet to be completed by 2022.
Ctrip has acquired US travel booking platform Trip.com (formerly Gogobot). It’s worth noting whether the search functions of Trip.com will be merged with Skyscanner’s.
About 150 executives from Ctrip, Meituan Travel, Shiji, Maritim Hotels, Hotelbeds, Saber, Yearth Group and other enterprises have shared insights into Chinese outbound tourism and marketing technologies.
The CITS American Express Global Business Travel 2017 China Business Travel Survey (the Barometer) has revealed that 31% of Chinese companies expect travel budgets to rise over the next twelve months.
Chinese house-sharing platform Xiaozhu.com raised $120 million in its latest financing round backed by Alibaba founder Jack Ma's Yunfeng Capital, making it a billion-dollar unicorn startup.