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Trip.com Group

Trip.com Group Limited is a multinational travel service conglomerate with 45,000 employees. It is the largest online travel agency in China and one of the largest travel service providers in the world.[2] Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship Trip.com, Skyscanner, Qunar, Travix, and MakeMyTrip. The group operates websites in about 40 languages and 200 countries.[3][4]

Trip.com Group Limited
FormerlyCtrip.com International, Ltd.
Company typeMultinational corporation
IndustryTravel agency
FoundedJune 1999; 24 years ago (1999-06)
Area served
Worldwide
Key people
Revenue US$ 5.12 billion (2019)[1]
US$ 1.0 billion (2019)
Total assets US$ 28.75 billion (2019)
Number of employees
45,000
Subsidiaries
Websitegroup.trip.com

History edit

The company was founded by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.[5][6]

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.[6]

In 2006, about 70% of the company's sales came from just four cities in China: Beijing, Guangzhou, Shanghai, and Shenzhen.[7]

On August 6, 2014, Priceline.com, announced that it will invest $500 million in the company to broaden the companies’ options in China. Priceline and Ctrip, which have had a commercial partnership since 2012, will increase their cross-promotion of each company's hotel inventory and other travel services, the companies said in a statement.[8]

In May 2015, Booking Holdings (formerly The Priceline Group) announced it would be investing an additional $250 million in the company.[9]

In November 2016, the company acquired Skyscanner for £1.4 billion.[10][11] That same month, Jane Sun became the CEO of Ctrip.[12] She had joined the company in 2005.[13]

On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website.[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][21]

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".[22]

In June 2020, Trip.com joined China Eastern to launch new airline in Hainan as plans to make the island a free trade hub promise greater air traffic.[23]

On April 19, 2021, Trip.com Group was officially listed on the Hong Kong Stock Exchange.[24]

Remote work edit

The company is a proponent of scientific management.[25] 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.[26]

References edit

  1. ^ "TRIP.COM GROUP LIMITED - FORM 20-F (PDF)". 19 March 2020.
  2. ^ "Where The Big Four Online Travel Agencies — Expedia, TripAdvisor, Ctrip, & Priceline — Are Placing Their Bets". CB Insights Research. November 9, 2017.
  3. ^ "Trip.com Group | Company Overview & News". Forbes. Retrieved 2024-03-18.
  4. ^ "Trip.com Group Limited (TCOM) Company Profile & Facts - Yahoo Finance". finance.yahoo.com. Retrieved 2024-03-18.
  5. ^ Flannery, Russell (March 29, 2010). "Ctrip's Remarkable Journey: China travel boom fuels hotel chain IPO". Forbes.
  6. ^ a b Beltran, Luisa (December 9, 2003). "Ctrip.com IPO soars in first day". MarketWatch.
  7. ^ Liu, John; Ryan, Damien (May 29, 2006). "Ctrip May Buy Asian Companies as More Chinese Travel". Bloomberg News.
  8. ^ Surane, Jennifer; Cao, Jing (August 6, 2014). "Priceline Investing $500 Million in Ctrip Travel Agency". Bloomberg News.
  9. ^ Ajmera, Ankit (26 May 2015). "Priceline to invest additional $250 million in China's Ctrip.com". Reuters.
  10. ^ "Ctrip Announces Agreement to Acquire Skyscanner" (Press release). Skyscanner. November 23, 2016.
  11. ^ Russell, Jon (23 November 2016). "China's Ctrip is buying flight search company SkyScanner for $1.74 billion". TechCrunch.
  12. ^ "Ctrip Announces Ms. Jane Jie Sun as New CEO and Director" (Press release). PR Newswire. November 16, 2016.
  13. ^ "Jane Jie Sun". Forbes.
  14. ^ Tan, Kenneth (May 5, 2018). "Ctrip launches new global brand Trip.com, removes all references to the site being China-owned". Gothamist.
  15. ^ "Trade war puts Chinese tourists off US". Bangkok Post. May 13, 2019.
  16. ^ "Cheap train tickets: how to save money on rail fares with split ticketing and other tips". Inews.co.uk. Jul 3, 2019.
  17. ^ "Split-city ticketing: the trick that can make your train travel cheaper". Rail Professional. November 28, 2019.
  18. ^ "Payment Methods Report 2019 - European Payments Council" (PDF). European Payments Council. 28 June 2019.
  19. ^ "Trade war is putting Chinese tourists off US, with many opting for 'more welcoming' nations". scmp.com. May 15, 2019.
  20. ^ "Completion of Naspers share exchange transaction with Ctrip" (Press release). Naspers. September 5, 2019.
  21. ^ "Ctrip Announces Share Exchange Transaction with Naspers" (Press release). PR Newswire. April 26, 2019.
  22. ^ Schaal, Dennis (October 25, 2019). "Ctrip Name Change to Trip.com Group Is Now Official". Skift.
  23. ^ “China Eastern to launch new airline in Hainan with partners including Trip.com unit, as plans to make the island a free trade hub promise greater air traffic”
  24. ^ Murdoch, Sophie Yu, Scott (2021-04-19). "Trip.com Group shares gain 4.5% in Hong Kong debut". Reuters. Retrieved 2021-04-19.{{cite news}}: CS1 maint: multiple names: authors list (link)
  25. ^ Garvin, David (January 1, 2012). "Ctrip: Scientifically Managing Travel Services". Harvard Business School.
  26. ^ Bloom, Nicholas; Liang, James; Roberts, John; Ying, Jenny (February 2013). "Does working from home work? Evidence from a Chinese experiment" (PDF). Stanford Research Paper.

External links edit

  • Trip.com USA site
  • Business data for Trip.com Group Limited:
    • Bloomberg
    • Google
    • SEC filings
    • Yahoo!

trip, group, namesake, namesake, flagship, company, trip, limited, multinational, travel, service, conglomerate, with, employees, largest, online, travel, agency, china, largest, travel, service, providers, world, founded, 1999, company, owns, operates, severa. For the namesake namesake and flagship company see Trip com Trip com Group Limited is a multinational travel service conglomerate with 45 000 employees It is the largest online travel agency in China and one of the largest travel service providers in the world 2 Founded in 1999 the company owns and operates several travel fare aggregators and travel fare metasearch engines including namesake and flagship Trip com Skyscanner Qunar Travix and MakeMyTrip The group operates websites in about 40 languages and 200 countries 3 4 Trip com Group LimitedFormerlyCtrip com International Ltd Company typeMultinational corporationTraded asNasdaq TCOMSEHK 9961IndustryTravel agencyFoundedJune 1999 24 years ago 1999 06 Area servedWorldwideKey peopleJames Liang Chairman Jane Sun CEO RevenueUS 5 12 billion 2019 1 Net incomeUS 1 0 billion 2019 Total assetsUS 28 75 billion 2019 Number of employees45 000SubsidiariesTrip comSkyscannerMakeMyTripTravixQunarTrainPalWebsitegroup wbr trip wbr com Contents 1 History 2 Remote work 3 References 4 External linksHistory editThe company was founded by James Liang Neil Shen Min Fan and Qi Ji in June 1999 5 6 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 6 In 2006 about 70 of the company s sales came from just four cities in China Beijing Guangzhou Shanghai and Shenzhen 7 On August 6 2014 Priceline com announced that it will invest 500 million in the company to broaden the companies options in China Priceline and Ctrip which have had a commercial partnership since 2012 will increase their cross promotion of each company s hotel inventory and other travel services the companies said in a statement 8 In May 2015 Booking Holdings formerly The Priceline Group announced it would be investing an additional 250 million in the company 9 In November 2016 the company acquired Skyscanner for 1 4 billion 10 11 That same month Jane Sun became the CEO of Ctrip 12 She had joined the company in 2005 13 On November 1 2017 Ctrip acquired Trip com rebranding it as its global brand website 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 21 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 22 In June 2020 Trip com joined China Eastern to launch new airline in Hainan as plans to make the island a free trade hub promise greater air traffic 23 On April 19 2021 Trip com Group was officially listed on the Hong Kong Stock Exchange 24 Remote work editThe company is a proponent of scientific management 25 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 26 References edit TRIP COM GROUP LIMITED FORM 20 F PDF 19 March 2020 Where The Big Four Online Travel Agencies Expedia TripAdvisor Ctrip amp Priceline Are Placing Their Bets CB Insights Research November 9 2017 Trip com Group Company Overview amp News Forbes Retrieved 2024 03 18 Trip com Group Limited TCOM Company Profile amp Facts Yahoo Finance finance yahoo com Retrieved 2024 03 18 Flannery Russell March 29 2010 Ctrip s Remarkable Journey China travel boom fuels hotel chain IPO Forbes a b Beltran Luisa December 9 2003 Ctrip com IPO soars in first day MarketWatch Liu John Ryan Damien May 29 2006 Ctrip May Buy Asian Companies as More Chinese Travel Bloomberg News Surane Jennifer Cao Jing August 6 2014 Priceline Investing 500 Million in Ctrip Travel Agency Bloomberg News Ajmera Ankit 26 May 2015 Priceline to invest additional 250 million in China s Ctrip com Reuters Ctrip Announces Agreement to Acquire Skyscanner Press release Skyscanner November 23 2016 Russell Jon 23 November 2016 China s Ctrip is buying flight search company SkyScanner for 1 74 billion TechCrunch Ctrip Announces Ms Jane Jie Sun as New CEO and Director Press release PR Newswire November 16 2016 Jane Jie Sun Forbes Tan Kenneth May 5 2018 Ctrip launches new global brand Trip com removes all references to the site being China owned Gothamist Trade war puts Chinese tourists off US Bangkok Post May 13 2019 Cheap train tickets how to save money on rail fares with split ticketing and other tips Inews co uk Jul 3 2019 Split city ticketing the trick that can make your train travel cheaper Rail Professional November 28 2019 Payment Methods Report 2019 European Payments Council PDF European Payments Council 28 June 2019 Trade war is putting Chinese tourists off US with many opting for more welcoming nations scmp com May 15 2019 Completion of Naspers share exchange transaction with Ctrip Press release Naspers September 5 2019 Ctrip Announces Share Exchange Transaction with Naspers Press release PR Newswire April 26 2019 Schaal Dennis October 25 2019 Ctrip Name Change to Trip com Group Is Now Official Skift China Eastern to launch new airline in Hainan with partners including Trip com unit as plans to make the island a free trade hub promise greater air traffic Murdoch Sophie Yu Scott 2021 04 19 Trip com Group shares gain 4 5 in Hong Kong debut Reuters Retrieved 2021 04 19 a href Template Cite news html title Template Cite news cite news a CS1 maint multiple names authors list link Garvin David January 1 2012 Ctrip Scientifically Managing Travel Services Harvard Business School Bloom Nicholas Liang James Roberts John Ying Jenny February 2013 Does working from home work Evidence from a Chinese experiment PDF Stanford Research Paper External links edit nbsp Wikimedia Commons has media related to Trip com Group Trip com USA site Business data for Trip com Group Limited BloombergGoogleSEC filingsYahoo Retrieved from https en wikipedia org w index php title Trip com Group amp oldid 1217969172, wikipedia, wiki, book, books, library,

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