Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
Read more now
Read more now
Ctrip invests in local - China - attraction tickets segment.
Friday, 2nd May 2014
Source : Ctrip.com International, Ltd
 

Ctrip.com International has entered into an investment agreement with Tongcheng Network Technology Share Co, a local attraction ticket service provider that operates LY.com, to become the second largest shareholder of Tongcheng Network (second only to the management team) for consideration in cash equivalent to over US$200 million.

"We are very pleased to establish a strategic relationship with LY.com. We are increasingly positive about the potential of the travel industry in China. LY.com is the leading player in the local attraction ticket segment and we will support the independent operation of LY.com. We are excited to work with LY.com's team to create greater value for travelers and help the healthy development of the industry," said James Liang, Chairman and Chief Executive Officer of Ctrip.

"We are thrilled to have Ctrip as our strategic investor. Ctrip is the clear leader in the online and mobile travel industry in China. This investment will enhance the strategic cooperation between the two companies and will ultimately benefit our customers and partners," said Zhi Xiang Wu, Chief Executive Officer of LY.com.

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
Advertisment  
 Latest News  (Click title to read article)
Results of its global hotel management contract survey
Thursday, 21st August 2014

We're kicking AirAsia ass says Nok Air boss
Thursday, 21st August 2014

Tourism in the Baltic States in the ascendant need of new hotels
Thursday, 21st August 2014

Swiss-Belhotel expands Middle East footprint
Thursday, 21st August 2014

LEED certification boosts hotel revenue
Thursday, 21st August 2014

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy