Trip.com Group

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Trip.com Group Limited

logo
legal form Corporation
ISIN US89677Q1076
founding 1999
Seat Shanghai , People's Republic of ChinaChina People's RepublicPeople's Republic of China 
management Jane Jie Sun (CEO)
Number of employees 45,100 (2018)
sales 4.5 billion US dollars (2018)
Branch tourism
Website de.trip.com

Trip.com Group Limited , formerly Ctrip.com International , is a Chinese company providing travel services, accommodation reservations, transportation, package tours and business travel management. The company owns and operates Trip.com, Skyscanner, and Ctrip.com, all of which are online travel agencies. Founded in 1999, the company is currently the largest online travel agency in the People's Republic of China and one of the largest travel service providers in the world.

Companies

The company was founded in 1999 by James Liang, Neil Shen, Min Fan and Qi Ji under the name Ctrip.com. Ctrip.com was a variable interest entity (VIE), based on the 2003 Cayman Islands as part of one of Merrill Lynch guided the IPO on NASDAQ exchange. The rapid growth of the urban middle class in China in the 2000s allowed the company to expand rapidly. In 2006, around 70% of the company's sales came from just four cities in China: Beijing , Guangzhou , Shanghai and Shenzhen .

In December 2013, Ctrip acquired the California travel website Tours4fun for more than $ 100 million to lay the foundation for its North American expansion. On August 6, 2014, Priceline.com announced that it would invest $ 500 million in Ctrip.com to expand its options in China. Priceline and Ctrip, which have been in a commercial partnership since 2012, will step up their mutual promotion of each company's hotel inventory and other travel services, the companies said in a statement.

In May 2015, Booking Holdings (formerly The Priceline Group) announced it would invest another $ 250 million in Ctrip.com. In November 2016, the company acquired Skyscanner for £ 1.4 billion . A year later, Ctrip took over Trip.com and made it its global website.

In September 2019, Ctrip completed a share swap with Naspers and became the largest single shareholder in Indian travel services company MakeMyTrip .

On October 25, 2019, the change of the company name from Ctrip.com International to Trip.com Group was decided at the annual general meeting 2019.

Web links

Individual evidence

  1. ↑ Russell Flannery: Ctrip's Remarkable Journey. Accessed December 2, 2019 .
  2. ↑ Luisa Beltran: Ctrip.com IPO soars in first day. Retrieved December 2, 2019 (American English).
  3. ↑ Tech in Asia - Connecting Asia's startup ecosystem. Retrieved December 2, 2019 (American English).
  4. ↑ Priceline Expands China Options With Ctrip investment. Retrieved December 2, 2019 .
  5. ↑ Ctrip Announces Agreement to Acquire Skyscanner. In: Skyscanner's Travel Blog. November 23, 2016. Retrieved December 2, 2019 (UK English).
  6. ↑ Ctrip launches new global brand Trip.com, Removes all references to the site being China-owned. In: Shanghaiist. November 28, 2017. Retrieved December 2, 2019 (American English).
  7. ^ Completion of Naspers share exchange transaction with Ctrip. Retrieved December 2, 2019 .
  8. ↑ Ctrip Name Change to Trip.com Group Is Now Official. October 25, 2019, Retrieved December 2, 2019 (American English).