C-Trip is becoming a force to be reckoned with by providing a one-stop-shop for both independent and package tour consumers in domestic and international arenas. To consolidate its position in the market and it expands the scope of its service, it has also acquired significant stakes in competitors like eLong, Tongcheng and Qunar.
Today, the firm supplies inventory from around 500,000 domestic accommodation suppliers into the market, while its partnership with Booking Holdings means they lay claim 1.3 million hotels globally. Not missing a trick, the group has also invested in Tujia, China’s answer to Airbnb, which caters to the middle to high-end Chinese travellers in search of a different travel experience.
Like international counterparts booking.com and Expedia, Ctrip is looking to meet the needs of travellers throughout the travel journey. It also provides a multimode transportation ticketing solution including air, bus, train, car and ferry services. And if that isn’t enough, they also cross-sell related services, including hotel packages, travel insurance, lounge services and airport transfers.
Perhaps unsurprisingly, today accommodation and transportation ticketing, account for the majority of Ctrip’s revenue. Other areas of focus highlighted in the report are package tours and corporate travel as well as its review community and travel-related financial services to enhance user stickiness.
As a taster here, in numbers, we outline just a handful of the highs and highlights of a company that has 300 million registered members, 180 million active users, and is fast becoming a global household name in travel.
It may not be the biggest, yet, but it is the world’s fastest growing OTA, and next year Ctrip will celebrate 20 years in business. To mark this significant milestone, an online travel brand – EyeforTravel has published a comprehensive report detailing the impressive growth trajectory of China’s biggest online travel agency.
Ctrip in numbers
300m – registered members
180m – active users
92% – percentage of online (including web and mobile) transactions processed in 2016, up from around 50% in 2012. The remaining 8% went through customer service centres
42.4% – compound annual growth rates achieved by Ctrip since 2012 (vs. 25% achieved by Expedia and Booking Holdings, formerly Priceline)
38% – or the $671m investment in rival eLong, which merged with Tongcheng in March 2018
45% – Total revenues from transportation ticketing
35% – Total revenues from accommodation
24% – Ctrip’s estimated stake in the Chinese digital travel market.
11% – Package holidays’ contribution to revenues in 2017, making it the third largest product segment
500,000 – partnerships with domestic accommodation suppliers
65,000 – Hotels using Ctrip’s credit-rating system, which allows consumers access to credit guarantees and deferred payments
1.3m – Relationships with accommodation suppliers as a result of the relationship with Booking Holdings
$1.9m – Revenues from transportation ticketing
$1.1m – Spend on product development and associated costs
£3m – Spend on a strategic marketing deal between Ctrip and UK destination marketing organisation VisitBritain
2.9bn – the number of cumulative app downloads in 2017, up from 1.7bn in 2015
Figures for 2017, unless otherwise stated.
Content Courtesy: Eyefortravel.com