Ctrip Moves Into Luxury Travel Sector With Trip TM Acquisition

RELATED QUOTES

SymbolPriceChange
CTRP51.81+0.97

One of China’s leading travel e-commerce sites, Ctrip (NASDAQ:CTRP - News), has made a move into the luxury travel sector with the acquisition of the Trip TM company, which runs tours that can cost well over 100,000 RMB (US$15,900). The financial terms of the deal haven’t been revealed.

Beijing-based TripTM.com has been operating for four years, and its ‘HHTravel’ premium tours will continue apparently unchanged under Ctrip’s corporate wing. It pricey, curated jaunts leave from Beijing, Shanghai, and Taipei to dozens of destinations around the globe.

The announcement was made at the weekend at a press conference in Beijing. At the event, Fan Min, Ctrip’s CEO, said:

The strategic investment in Trip TM will help realize Ctrip’s goal to bite half market share of the top-end tours in China.

Luxury e-tailing is a lucrative sector in China, from couture fashion e-commerce sites to the ability to buy a Lamborghini online.

Smaller startups have been entering into this niche travel space as well, such as the boutique tours offered by Zanadu.

[Source: China.org.cn]

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2504-0.0027-0.21%
    USDSGD=X
    1.7284-0.0027-0.15%
    EURSGD=X
    2.1003+0.0043+0.21%
    GBPSGD=X
    81.8097+0.5133+0.63%
    SGDJPY=X
    6.2018+0.0145+0.23%
    SGDHKD=X
    2.5928+0.0041+0.16%
    SGDMYR=X
    9,182.7363+57.7266+0.63%
    SGDIDR=X
    4.9750+0.0103+0.21%
    SGDCNY=X
    1.1736+0.0005+0.04%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,301.20+0.90+0.07%
    GCM14.CMX
    19.60+0.11+0.57%
    SIK14.CMX
    91.31-0.56-0.61%
    ^XAU
    3.03+0.04+1.27%
    HGK14.CMX
    103.22-0.53-0.51%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.63+0.01
    ^FVX
    2.64+0.01
    ^TNX
    3.47+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.117-0.006-4.88%
    B22.SI
    1.275+0.020+1.59%
    N21.SI
    2.190.0000.00%
    JS8.SI
    0.605+0.015+2.54%
    E5H.SI
    0.97+0.060+6.59%
    B20.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.445+0.055+14.10%
    5UL.SI
    0.20+0.020+11.11%
    567.SI
    0.174+0.013+8.07%
    540.SI
    0.67+0.050+8.06%
    5VT.SI
    0.425+0.030+7.59%
    5FD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.096-0.011-10.28%
    S13.SI
    0.315-0.025-7.35%
    O08.SI
    0.139-0.010-6.71%
    5GB.SI
    0.30-0.020-6.25%
    502.SI
    0.132-0.008-5.71%
    5BM.SI