China 2015: BRAND PROFILE | 93. CITS
To meet the changing expectations of customers who increasingly book their transportation and accommodations online, CITS focused on transforming from a traditional travel agency with 122 branches into more of an Internet-driven operation. The company operates websites in five languages plus Chinese.
CITS also enhanced its product offering for Chinese customers traveling domestically or abroad. It expanded its business of expediting visa applications, with an initial focus on Korea. For inbound tourists the company organized more packages around special interests, such as golf or traditional Chinese medicines.
China’s heritage brand in the travel category, CITS is an SOE (State Owned Enterprise) with experience and long-established contacts overseas. Its parent company, China International Travel Service Corporation Ltd. also engages in duty-free sales and was listed on the Shanghai Stock Exchange in 2009.
For the first half of 2014, net income of the listed company increased 6 percent to $138 million on a 15 percent revenue rise to $1.4 billion. Net income for full year 2013 increased 32 percent to $211 million on $2.8 billion in revenue, up 11 percent.