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Ctrip is now Trip.com
The recently concluded 2019 annual general meeting of shareholders adopted the resolution to change the name of the company from Ctrip.com International to Trip.com Group. Ctrip.com provides online travel and related services, including accommodation reservation, transportation ticketing, packaged tours and in-destination services, corporate travel management, and other travel-related services. The American depositary shares, each representing 0.125 ordinary shares, par value USD 0.01 per share, of the company, will begin trading under the new corporate name from 5 November with the company’s ticker TCOM. Founded in 1999, the family of travel brands mainly includes Ctrip, a provider of online travel and related services in China; Qunar, an online travel agency also in China; Trip.com, an online travel agency for global consumers and Skyscanner, a global travel search site.
“The South-East Asia market is a primary focus” Ctrip to partner with Thai tourism body
L to R. Ctrip CMO Sun Bo with TAT governor Yuthasak Supasorn Ctrip Group CMO Sun Bo and the governor of the Tourism Authority of Thailand (TAT), Yuthasak Supasorn, met today to discuss a potential partnership between the two organisations, to encourage even more leisure travellers to visit the Land of Smiles. The talks including possible destination marketing strategies and the joint introduction of sustainable and responsible industry practices. And, if it goes ahead, will see the development and promotion of more premium and specialised tourism options, in a bid to attract the more affluent Chinese outbound tourist. "Unique, welcoming and valuable" Supasorn said: "China is the number one origin for visitors to Thailand, and we are committed to continually improving our tourism products and services to better cater to our Chinese visitors. We welcome Ctrip's partnership in making our country more accessible and enjoyable for our visitors, and through working together to share the richness and diversity of our country with more travellers, ensure that Thailand remains a leading destination." "Thailand's commitment to providing a unique, welcoming and valuable travel experience is widely recognized and appreciated by travellers," said Sun Bo. "The South-East Asia market is a primary focus for us going forward, and we look forward to working closely with Thailand to deliver to premium travellers a richer local Thai experience, and to develop the market for adventure and sports-oriented travellers, weddings and honeymoons, wellness and eco-tourists, and other tourists searching for unique and rewarding experiences."
Ctrip to develop tourism in Morocco
Online travel agency Ctrip has signed a strategic co-operation agreement with Morocco’s National Tourism Office to boost Chinese tourism to Morocco. Spanning over three years, the partnership will aim to increase exposure of Moroccan destinations in China, notably through digital marketing campaigns. With over 60 years of diplomatic relations, a China-Morocco Year of Culture and Tourism planned for 2020, and a visa exemption policy in place since 2016, the country has opened its doors to embrace Chinese tourists. James Liang, chairman and co-founder of Ctrip remarked: “Morocco is such a beautiful country, with many rich experiences awaiting Chinese visitors. But up until this point, the proportion of Chinese tourists visiting the region has remained relatively low.” Working with Ctrip, Morocco will further benefit from social media exposure and package tour product development, among other points of collaboration, to help the country realise its tourism aspirations. In the three years since the introduction of the visa exemption policy, the number of Chinese tourists visiting the country has soared from 43,000 in 2016 to 200,000 in 2018. According to Ctrip flight data, Morocco was the third most popular destination in Africa for Chinese outbound tourists during the 2019 summer holiday season, following Rwanda and Namibia. The number of flights booked from China to Morocco grew 140% compared to last summer. Mohamed Sajid, minister of tourism, air transport, handicrafts and social economy in Morocco said: “We hope to attract 500,000 Chinese tourists in 2020, and with Ctrip, I am certain we will make good progress towards earning a place among the world’s top 20 destinations.”
Harry’s game: Duke of Sussex launches new Booking.com, Ctrip & TripAdvisor collaboration
The Duke of Sussex has announced a new global partnership aimed at improving conservation, environmental protection and expanding local community economic development by encouraging sustainable tourism practices across the travel industry. ‘Travalyst’ has been created to mobilise the travel industry as a catalyst for good, aiming to transform the future of travel for everyone. Led by His Royal Highness and co-founded alongside leading service providers in the travel industry, Booking.com, Ctrip, Skyscanner, TripAdvisor and Visa, this first-of-its-kind initiative is dedicated to exploring and promoting solutions that will make travel more sustainable. This initiative brings together global businesses – those at the centre of connecting customers and operators in the travel market - to utilise their unique position to educate, raise awareness and promote positive change. https://youtu.be/PvvPrSORZBU The new partnership is paving a new way to travel; driving change to help everyone explore the world in a more sustainable manner, protecting people, places, and wildlife, and securing a positive future for destinations and local communities for many generations to come. Working with companies, consumers and communities, the partnership will initially explore and promote solutions that help drive sustainable practices and consumer choices in areas including; supporting local people, protecting wildlife, tackling climate change and environmental damage, and alleviating over-tourism.
Ctrip gets nod for acquisition of 42.5% stake in MakeMytrip
Indian regulator Competition Commission of India (CCI) has approved the acquisition of 42.5% of outstanding voting shares in MakeMyTrip by Chinese online travel agency (OTA) Ctrip. Ctrip holds nearly half of the Indian online travel firm after this acquisition. Ctrip has acquired the additional stake in MakeMyTrip in a swap deal with South Africa-based Naspers which received a 5.6% stake in Ctrip in exchange. The transaction values MakeMyTrip at over USD 2.57 billion. Ctrip’s earlier stake in MakeMyTrip came through a USD 180 million investment in convertible bonds in January 2016. Deep Kalra, chairman and group CEO of MakeMyTrip had said in April that the company would look to leverage the investment by Ctrip to benefit from the growth potential in travel and tourism between India and China.
Court of the Sun Queen: Ctrip CEO’s secrets to success
Jon Gray, VP and GM at Palms Casino Resort The secret to how Ctrip grew in value by 210x was revealed by Jane Sun, CEO of Ctrip.com, International Ltd., during the Aspen Action Forum in Aspen, Colorado, USA where she was joined on stage by David Rubenstein, co-chairman of The Carlyle Group, who previously invested in the company in 2003. The successful American financier invested in Ctrip shortly after the company's listing on NASDAQ in 2003, at the time with a valuation of around USD 100 million, which he would later sell for a four-to-five hundred percent profit. "At the time, we thought how brilliant are we? The company is today worth USD 21 billion. I guess I sold too soon, right?", he quipped. "We should always listen to our customers" In the time since Rubenstein's initial investment in 2003, Ctrip's market capitalization has grown exponentially, becoming the largest online travel agent in China and Asia. Sun explained that the secret to Ctrip's success is not in stamping out competition, but rather in listening to its users, and working incessantly to improve their travel experience. "Rather than focusing on competition, we should always listen to our customers, and focus on serving them," she said. As the CEO of Ctrip, Sun leads her team to implement innovative and intuitive solutions to everyday issues encountered by its users, ranging from its highly efficient SOS emergency mechanism which allows Ctrip to respond to urgent requests in an average of 17 seconds, to its automatic alternative routing and reissuing service for customers whose flights are cancelled. "We aim to make travel more pleasant," Sun said. "I could be a bridge between China and the rest of the world" Having spent almost 20 years in the USA, Sun's story is an amalgamation of both the American Dream, and a Chinese Dream. As a member of the first batch of Mainland Chinese students to study in the US, she feels fortunate, she explained, to have had the opportunity of studying in America. "I thought that my background and bilingual, bi-cultural skills could be better utilised in China, and that I could be a bridge between China and the rest of the world," she said. In her unique role as the only female CEO in the Chinese Internet industry, Jane Sun has been an active advocate for women's rights. She has also established a scholarship named after her professors at the University of Florida, as a way of both giving back to society, and inspiring the next generation of young leaders in the same way she was as a student. Global peace Ctrip also plays an important role, she says, in bridging the two countries, and contributing to global peace and understanding. "I feel travel not only brings joy to lives, but also serves as a kind of diplomacy, as a way of bringing people together and promoting a common global understanding and cultural exchange. In today's sometimes fractious environment, this is particularly important," she said. Although Rubenstein may regret selling his Ctrip stock, Sun assured him that as the company enters its next phase of development, the best is yet to come. "I'm sure that the travel industry will continue to grow, and Ctrip will capitalize on those opportunities," she said. "And I hope we can live up to the expectations of promoting the global economy and global peace."
Ctrip bats for Sicily in China
Ctrip has announced a strategic partnership with Sicily that promises to bring a bigger share of the world’s largest outbound tourism market to the Mediterranean island. Tourism is a vital aspect of Italy-China bilateral co-operation. Italy is already one of the most popular destinations in Europe for Chinese visitors and continues to attract more visitors every year. In the first half of 2019, according to Ctrip data, hotel reservations in Italy experienced year-on-year growth of 200%, making Italy the top destination for Chinese tourists in Europe. "Over 300 million users in China." As the 2020 Italy-China Year of Culture and Tourism approaches, Ctrip and Sicily’s partnership will go a long way to help the island to tap the potential to attract more Chinese visitors. “With over 300 million users in China, Ctrip will allocate its online platforms and media connections to promote Sicilian tourism destinations and unique local experiences to the Chinese high-end outbound tourism market, from seaside resorts and medical spas, to food and wine tours; art and history itineraries, such as the Segesta and Selinunte archaeological parks and the Valley of the Temples of Agrigento; natural tracks such as skiing on Etna Volcano and diving in Ustica; and, even local events, including the Taormina film festival and the Carnival of Acireale,” Bo Sun, chief marketing officer of Ctrip said.
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