Ctrip buys UK site to tap travel needs
Print Edition
CTRIP.COM has bought a UK-based low-cost travel platform for more than US$100 million to meet the surging demand for overseas trips by Chinese travelers, China’s biggest online tourism service provider said yesterday.
The deal is expected to help Nasdaq-listed Ctrip enhance its international product portfolio and improve profitability, Liang Jianzhang, Ctrip’s chief executive and chairman, said during a phone conference yesterday.
Shanghai-based Ctrip has invested in Travelfusion by purchasing a majority stake in a UK-based Low Cost Carrier platform, which has more than 200 budget airlines and over 30 hotel partners. Travelfusion partners include top budget airlines such as Jet Blue, Easy Jet, Air Asia and Tigerair.
“The international travel market is a rapidly growing market segment (in China) for several years. We are still seeking merger or investment opportunities in the segment,” said Liang.
In the past years, Ctrip’s overseas airline ticket sales jumped 70 to 80 percent annually. Among overseas air ticket sales, budget airline ticket sales grew rapidly and had great potential, Liang said.
After a system upgrade and integration, Chinese consumers will be able to search and purchase more international budget airline tickets offered by Travelfusion in Ctrip’s platform using a Chinese-language interface and after-sales support.
Some countries including the US, Canada, Japan and the UK have relaxed visa policies for Chinese passport holders such as allowing multiple-entry visas or simplifying the application process. More Chinese tourists are set to choose do-it-yourself travel plans in 2015.
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