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TRIP.COM GROUP
Chinese online travel service conglomerate From Wikipedia, the free encyclopedia
B
Quality score:Good
For the namesake and flagship company, see Trip.com.
Trip.com Group Limited is a multinational travel agency headquartered in
Shanghai, China. It is the largest online travel agency in China and one of the
largest travel service providers in the world.[3]
Quick Facts Formerly, Company type ...
Trip.com Group LimitedFormerlyCtrip.com International, Ltd.Company typePublic
Traded as
* Nasdaq: TCOM
* SEHK: 9961
IndustryTravel agencyFoundedJune 1999; 25 years
ago (1999-06)HeadquartersShanghai, China
Area served
Worldwide
Key people
* James Liang (chairman)
* Jane Sun (CEO)
Revenue US$6.3 billion (2023)[1]
Net income
US$1.4 billion (2023)Total assets US$30.865 billion (2023)
Number of employees
45,000Subsidiaries
* Trip.com
* Skyscanner
* MakeMyTrip
* Travix
* Qunar
* TrainPal
Websitegroup.trip.comFootnotes / references
[2]
Close
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]
HISTORY
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]
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.[7][8] The investment was
increased by $250 million in May 2015.[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 listed on the Hong Kong Stock
Exchange.[24]
REMOTE WORK
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
1. [1]
"Trip.com Group Limited Reports Unaudited Fourth Quarter and Full Year of
2023 Financial Results". 2024-08-27.
2. [2]
"Trip.com Group Limited 2023 Form 20-F Annual Report". U.S. Securities and
Exchange Commission. April 29, 2024.
3. [3]
"Where The Big Four Online Travel Agencies — Expedia, TripAdvisor, Ctrip, &
Priceline — Are Placing Their Bets". CB Insights Research. November 9,
2017.
4. [4]
"Trip.com Group - Company Overview & News". Forbes.
5. [5]
Flannery, Russell (March 29, 2010). "Ctrip's Remarkable Journey: China
travel boom fuels hotel chain IPO". Forbes.
6. [6]
Beltran, Luisa (December 9, 2003). "Ctrip.com IPO soars in first day".
MarketWatch.
7. [7]
Surane, Jennifer; Cao, Jing (August 6, 2014). "Priceline Investing $500
Million in Ctrip Travel Agency". Bloomberg News.
8. [8]
Gu, Wei (August 7, 2014). "Priceline to Invest $500 Million in Ctrip". The
Wall Street Journal.
9. [9]
Ajmera, Ankit (26 May 2015). "Priceline to invest additional $250 million
in China's Ctrip.com". Reuters.
10. [10]
"Ctrip Announces Agreement to Acquire Skyscanner" (Press release).
Skyscanner. November 23, 2016.
11. [11]
Russell, Jon (23 November 2016). "China's Ctrip is buying flight search
company SkyScanner for $1.74 billion". TechCrunch.
12. [12]
"Ctrip Announces Ms. Jane Jie Sun as New CEO and Director" (Press release).
PR Newswire. November 16, 2016.
13. [13]
"Jane Jie Sun". Forbes.
14. [14]
Tan, Kenneth (May 5, 2018). "Ctrip launches new global brand Trip.com,
removes all references to the site being China-owned". Gothamist.
15. [15]
"Trade war puts Chinese tourists off US". Bangkok Post. May 13, 2019.
16. [16]
"Cheap train tickets: how to save money on rail fares with split ticketing
and other tips". Inews.co.uk. July 3, 2019.
17. [17]
"Split-city ticketing: the trick that can make your train travel cheaper".
Rail Professional. November 28, 2019.
18. [18]
"Payment Methods Report 2019 - European Payments Council" (PDF). European
Payments Council. 28 June 2019.
19. [19]
Deng, Iris (May 15, 2019). "Trade war is putting Chinese tourists off US,
with many opting for 'more welcoming' nations". South China Morning Post.
20. [20]
"Completion of Naspers share exchange transaction with Ctrip" (Press
release). Naspers. September 5, 2019.
21. [21]
"Ctrip Announces Share Exchange Transaction with Naspers" (Press release).
PR Newswire. April 26, 2019.
22. [22]
Schaal, Dennis (October 25, 2019). "Ctrip Name Change to Trip.com Group Is
Now Official". Skift.
23. [23]
Lee, Georgina (14 June 2020). "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". South China Morning Post.
24. [24]
Yu, Sophie; Murdoch, Scott (April 19, 2021). "Trip.com Group shares gain
4.5% in Hong Kong debut". Reuters.
25. [25]
Garvin, David (January 1, 2012). "Ctrip: Scientifically Managing Travel
Services". Harvard Business School.
26. [26]
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.
EXTERNAL LINKS
Wikimedia Commons has media related to Trip.com Group.
* Trip.com USA site
* Business data for Trip.com Group Limited:
* Bloomberg
* Google
* SEC filings
* Yahoo!
Edit in WikipediaRevision historyRead in Wikipedia
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