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Trip.com Group
Chinese online travel service conglomerate From Wikipedia, the free encyclopedia
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Trip.com Group Limited is a multinational travel agency headquartered in Shanghai, China. It is the largest online travel service provider 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 operates websites in approximately 40 languages and 200 countries.[2] The company is ranked 820th on the Forbes Global 2000.[4]
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The company was founded as Ctrip.com by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.[5]
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.[5]
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.[6][7] The investment was increased by $250 million in May 2015.[8]
In November 2016, the company acquired Skyscanner for £1.4 billion.[9][10] That same month, Jane Sun became the CEO of Ctrip which she had joined in 2005.[11]
On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website.[12][13] By 2018, Trip.com Group derived only around 2% of its revenue from overseas customers, and it announced plans to increase that share to roughly 20% within five years, using the Trip.com brand as the spearhead for international expansion.[14] The strategy focused on growing in Asian markets such as South Korea and Japan, as well as in Western destinations like London, to better compete with global rivals like Expedia.[14] Following the Trip.com relaunch, the platform was made available in multiple languages and had over six million users by mid-2018, with booking transactions doubling year-on-year.[14]
In February 2018, Ctrip launched TrainPal, an online ticketing platform[15] featuring split ticketing,[16] in the United Kingdom.[17] Accredited by the National Rail of the UK,[18] TrainPal mainly provides services for the UK, and other European countries.[19]
In September 2019, Ctrip completed a share exchange with Naspers and became the single largest shareholder of MakeMyTrip.[20] As a result of the transaction, Ctrip acquired 49 percent of MakeMyTrip’s voting power and began accounting for the company using the equity method.[21]
On October 25, 2019, shareholders approved the company's proposal to change its name from "Ctrip.com International, Ltd." to "Trip.com Group Limited." The company stated that the new name was intended to reflect its portfolio of travel brands—including Ctrip, Trip.com, Qunar, and Skyscanner—and to enhance recognition among international users.[21] At the time of the rebranding, international business accounted for approximately 35 percent of the company’s total revenue. The company projected that this figure could rise to between 40 and 50 percent over the following three to five years.[22]
On April 19, 2021, Trip.com Group was listed on the Hong Kong Stock Exchange.[23]
On August 16, 2024, Ctrip Asia Live Broadcast Center was unveiled in Thailand.[24]
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