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Trip.com Group

For the namesake travel agency, see Trip.com.
Trip.com Group Limited
FormerlyCtrip.com International, Ltd.
Company typePublic
IndustryTravel agency
FoundedJune 1999; 25 years ago (1999-06)
Headquarters
Area served
Worldwide
Key people
RevenueIncrease US$6.3 billion (2023)[1]
Increase US$1.4 billion (2023)
Total assetsDecrease US$30.865 billion (2023)
Number of employees
36，000
Subsidiaries
Websitegroup.trip.com
Footnotes / references
[2]
Trip.com Group
Simplified Chinese携程集团
Traditional Chinese攜程集團
Literal meaningcarry journey group
Transcriptions
Standard Mandarin
Hanyu PinyinXiéchéng Jítuán
Yue: Cantonese
Yale RomanizationKwàihchìhng Jaahptyùhn

Trip.com Group Limited is a multinational online travel agency (OTA). It is one of the largest travel service providers in the world.[3]

Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship Trip.com, Skyscanner, CTrip, Qunar, Travix, and MakeMyTrip.[2] It has operations in 39 countries and regions, and the company offers services in 30 languages, supporting over 1.7 million hotels, 600 airlines, and 560,000 attractions globally.[4] The company is ranked 820th on the Forbes Global 2000.[5]

History

The company was founded as Ctrip.com by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.[6][7]

The company was listed on the NASDAQ in 2003 through a variable interest entity (VIE) based in the Cayman Islands in a Merrill Lynch-led offering, raising US$75 million from the sale of 4.2 million American depositary receipts at $18 each. It appreciated 86% to close at $33.94 per ADR in its first day of trading. The stock traded at a peak of $37.35 on its first day of trading, making it the first company since the November 2000 IPO of Transmeta to double its price in the first day of trading.[7]

On August 6, 2014, Priceline.com, announced that it will invest $500 million in the company to broaden the companies’ options in China, and the companies, which had a commercial partnership since 2012, increased their cross-promotion of each company's hotel inventory and other travel services.[8][9] The investment was increased by $250 million in May 2015.[10]

In November 2016, the company acquired Skyscanner for £1.4 billion.[11][12] That same month, Jane Sun became the CEO of Ctrip.[13] She had joined the company in 2005.[14]

On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website.[15][16]

In February 2018, Ctrip launched TrainPal, an online ticketing platform[17] featuring split ticketing,[18] in the United Kingdom.[19] Accredited by the National Rail of the UK,[20] TrainPal mainly provides services for the UK, and other European countries.[21]

In September 2019, Ctrip completed a share exchange with Naspers and became the single largest shareholder of MakeMyTrip.[22][23]

On October 25, 2019, at its 2019 annual general meeting of shareholders, it was approved to change the Company name from "Ctrip.com International, Ltd." to "Trip.com Group Limited".[24]

On April 19, 2021, Trip.com Group was listed on the Hong Kong Stock Exchange.[25]

On August 16, 2024, Ctrip Asia Live Broadcast Center was unveiled in Thailand.[26]

Remote work

The company is a proponent of scientific management.[27] After a 2012 randomized control trial using 242 employees and sponsored by professors at Stanford University and Peking University found that employees randomly assigned to remote work for 9 months increased their output by 13.5% versus the office-based control group, and their turnover rates fell by almost 50%, the company allowed remote work company-wide.[28]

References

  1. ^ "Trip.com Group Limited Reports Unaudited Fourth Quarter and Full Year of 2023 Financial Results". 2024-08-27.
  2. ^ a b "Trip.com Group Limited 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. April 29, 2024.
  3. ^ "Where The Big Four Online Travel Agencies — Expedia, TripAdvisor, Ctrip, & Priceline — Are Placing Their Bets". CB Insights Research. November 9, 2017.
  4. ^ "About Trip.com". www.trip.com. Retrieved 2025-01-22.
  5. ^ "Trip.com Group - Company Overview & News". Forbes.
  6. ^ Flannery, Russell (March 29, 2010). "Ctrip's Remarkable Journey: China travel boom fuels hotel chain IPO". Forbes.
  7. ^ a b Beltran, Luisa (December 9, 2003). "Ctrip.com IPO soars in first day". MarketWatch.
  8. ^ Surane, Jennifer; Cao, Jing (August 6, 2014). "Priceline Investing $500 Million in Ctrip Travel Agency". Bloomberg News.
  9. ^ Gu, Wei (August 7, 2014). "Priceline to Invest $500 Million in Ctrip". The Wall Street Journal.
  10. ^ Ajmera, Ankit (26 May 2015). "Priceline to invest additional $250 million in China's Ctrip.com". Reuters.
  11. ^ "Ctrip Announces Agreement to Acquire Skyscanner" (Press release). Skyscanner. November 23, 2016.
  12. ^ Russell, Jon (23 November 2016). "China's Ctrip is buying flight search company SkyScanner for $1.74 billion". TechCrunch.
  13. ^ "Ctrip Announces Ms. Jane Jie Sun as New CEO and Director" (Press release). PR Newswire. November 16, 2016.
  14. ^ "Jane Jie Sun". Forbes.
  15. ^ O'Neill, Sean (19 November 2017). "Ctrip Relaunches Trip.com as Its English Language Travel Agency Brand". Skift.
  16. ^ Tan, Kenneth (May 5, 2018). "Ctrip launches new global brand Trip.com, removes all references to the site being China-owned". Gothamist.
  17. ^ "Trade war puts Chinese tourists off US". Bangkok Post. May 13, 2019.
  18. ^ "Cheap train tickets: how to save money on rail fares with split ticketing and other tips". Inews.co.uk. July 3, 2019.
  19. ^ "Split-city ticketing: the trick that can make your train travel cheaper". Rail Professional. November 28, 2019.
  20. ^ "Payment Methods Report 2019 - European Payments Council" (PDF). European Payments Council. 28 June 2019.
  21. ^ Deng, Iris (May 15, 2019). "Trade war is putting Chinese tourists off US, with many opting for 'more welcoming' nations". South China Morning Post.
  22. ^ "Completion of Naspers share exchange transaction with Ctrip" (Press release). Naspers. September 5, 2019.
  23. ^ "Ctrip Announces Share Exchange Transaction with Naspers" (Press release). PR Newswire. April 26, 2019.
  24. ^ Schaal, Dennis (October 25, 2019). "Ctrip Name Change to Trip.com Group Is Now Official". Skift.
  25. ^ Yu, Sophie; Murdoch, Scott (April 19, 2021). "Trip.com Group shares gain 4.5% in Hong Kong debut". Reuters.
  26. ^ "Trip.com Group Unveils Asia Live Streaming Centre in Bangkok to Showcase Thailand's Tourism Offerings". Australian Associated Press. Retrieved 2024-10-28.
  27. ^ Garvin, David (January 1, 2012). "Ctrip: Scientifically Managing Travel Services". Harvard Business School.
  28. ^ Bloom, Nicholas; Liang, James; Roberts, John; Ying, Jenny (February 2013). "Does working from home work? Evidence from a Chinese experiment". National Bureau of Economic Research. Working Paper Series. Cambridge, MA. doi:10.3386/w18871.
Quelle: Https://en.wikipedia.org/wiki/Ctrip