Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Companies

    Travel service firms plan merger to create unified platform

    By Wang Zhuoqiong | China Daily | Updated: 2018-01-02 08:22
    Share
    Share - WeChat

    Travel service companies Tongcheng Network, a unit of Tongcheng Tourism, and E-dragon Holdings Ltd (or eLong) said on Friday that they would merge to create a new travel platform called Tongcheng-Elong Holdings Ltd.

    Ctrip.com, China's leading travel platform, which is a major shareholder in both companies, said the merger would help integrate its mobility and hotel resources under one umbrella. Tencent and Ctrip will become major shareholders of the new company after the merger along with other shareholders like Wanda and Ctrip-backed OceanLink.

    Tongcheng currently deals with air tickets, hotel booking, train tickets and bus tickets while eLong focuses largely on the hotel business.

    The merged entity is expected to have around 200 million users. Prior to the merger, the companies have processed more than 500 million deals in 2017, grossing more than 100 billion yuan ($15.4 billion) in turnover.

    Liang Jianzhong, co-founder and executive chairman of Ctrip, and Wu Zhixiang-co-founder, president and CEO of Tongcheng Tourism-will serve as co-chairmen of the new company.

    Ma Heping, co-founder of Tongcheng Tourism and president of Tongcheng Network and Jiang Hao, CEO of eLong, will be the joint CEOs.

    The new company will be positioned as a leading online travel service platform, supported by the complementary core strengths of the two parties.

    According to data from Analysys, in 2016, eLong's market share in the online hotel booking market is about 15.6 percent and was ranked third after Ctrip and Meituan. The fourth position went to Tongcheng Network with about 2.7 percent market share.

    In the online ticketing market Tongcheng had about 4.8 percent market share, while Ctrip held about 58.5 percent.

    Tongcheng Network's access to train tickets and eLong's access to hotels through WeChat wallet will help the new company to target the huge number of WeChat users by offering higher-quality products and services.

    Tongcheng Tourism consists of two units-Tongcheng Network and Tongcheng Travel Agency Group. Tongcheng Network deals with air, train tickets and hotels, while Dongcheng Travel Agency Group focuses on leisure travel and tourism.

    An internal message from Wu Zhixiang shows that Tongcheng Network's online business has seen rapid growth, with net profit of over 500 million yuan in 2017, while Tongcheng Travel Agency Group, Tongcheng Financial and other sectors have achieved their 2017 targets and are expected to become profitable in 2018.

    In July 2017 alone, Tongcheng Tourism made 30 million yuan in profit after 43 months in the red.

    Liu Chiping, president of Tencent, said that "Tongcheng-Elong is a strategic partnership which Tencent has built within its healthy internet ecology system. We will continue to support the business and the development of the new company through the WeChat and QQ platforms on mobile, enriching online and offline products and services for customers."

    The online travel business is no longer a competition between online travel agencies but between internet giants, said Zhao Huanyan, an analyst at Huamei Hotel Consulting.

    The future of travel industry lies in the fierce rivalry among various internet ecosystems within Tencent, Ctrip and Meituan, he said.

    Between 2014 and 2015, Ctrip invested $200 million in Tongcheng. Ctrip also cooperated with Tencent and Paleno-a domestic hotel group to acquire 37.6 percent share in eLong and became its largest shareholder. Ctrip also invested in Tuniu and Qunar. China's leading internet giant Baidu is the largest share holder of Ctrip, about 20.1 percent, according to Ctrip's 2016 financial report.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    波多野结衣亚洲AV无码无在线观看| 欧美精品中文字幕亚洲专区| 中文字幕天天躁日日躁狠狠躁免费| 日韩AV无码久久一区二区| 欧美激情中文字幕| 日韩av片无码一区二区三区不卡| 亚洲不卡中文字幕无码| 国产精品亚洲w码日韩中文| 亚洲色中文字幕无码AV| 久久精品无码专区免费青青| 国产中文在线亚洲精品官网| 中文字幕精品无码久久久久久3D日动漫| 波多野结衣AV无码久久一区| 亚洲中文字幕无码久久综合网| MM1313亚洲精品无码| 无码av免费网站| 亚洲AV无码一区二区二三区软件| 亚洲国产午夜中文字幕精品黄网站| 韩国中文字幕毛片| 无码精品第一页| 嫩草影院无码av| 国产精品无码久久综合网| 久久久久成人精品无码中文字幕| 亚洲AV无码一区二区乱孑伦AS | 人妻少妇久久中文字幕一区二区| 无码专区中文字幕无码| 精品亚洲成在人线AV无码| 中文字幕日韩第十页在线观看 | 少妇无码?V无码专区在线观看| 无码AV中文一区二区三区| 色综合AV综合无码综合网站| 亚洲一区爱区精品无码| 波多野结衣AV无码久久一区| 亚洲av无码专区国产乱码在线观看| 国产亚洲大尺度无码无码专线| 制服在线无码专区| 成人无码A区在线观看视频| 亚洲第一极品精品无码久久| 在线高清无码A.| 精品久久久久久无码专区不卡| 久久精品无码一区二区无码 |