China 2015: BRAND PROFILE | 44. Ctrip
Both accommodation and transportation booking increased substantially during the first half of 2014, with 80 percent of all transactions completed online
or with mobile devices. Ctrip’s mobile app has been downloaded over 200 million times. In other developments, the company:
- Entered an agreement to acquire a 1,814-passenger cruise ship from Royal Caribbean Cruises and to operate cruises as a joint venture.
- Expanded its partnership with Priceline Group with reciprocal access to accommodation listings. And Priceline planned to invest $500 million in Ctrip.
Founded in 1999, Ctrip provides travel services for both consumers and businesses. Its offering includes transportation, accommodations, vacation packages and tours. Since its IPO (Initial Public Offering) in 2003,
the company has been listed on the NASDAQ Stock Exchange.
Net income declined 32 percent to $40 million, in the first half of 2014, on a 37 percent revenue increase to $532 million. For the full year 2013, net income rose 44 percent to $165 million on revenue of $890 million, a 33 percent rise.