Related News
Priceline agrees to invest in Ctrip for cross-promotion
Online Edition
CTRIP, China’s No. 1 online travel agency, said today that Priceline Group Inc agreed to invest US$500 million in the company through a purchase of convertible bonds.
Both sides aim to cooperate on cross-promoting and hotel inventory sharing, thanks to the surging demand of outbound tourism in China and globally, Ctrip said.
Combined with the convertible bonds and Ctrip shares Priceline plans to buy in the open market over the next 12 months, it may hold up to 10 percent of Ctrip's shares. It will be granted the right to appoint an observer to the Ctrip board of directors.
Ctrip’s customers are allowed to reach Priceline’s overseas portfolio of over 500,000 accommodations outside of China while Priceline customers can reach Ctrip’s over 100,000 accommodations in China.
The new agreement also includes cross-promoting on hotels, air ticketing and attraction ticketing services.
In 2013, the online travel market revenue reached 218 billion yuan (US$35.2 billion) and Ctrip accounted for about 50 percent of the total, according to Analysys International, a Beijing-based IT research firm.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
