From tools to the community, Ctrip’s globalization has chosen TripAdvisor.

Ctrip’s global business has made new progress.

Learned that on November 6, 2019, US time (5 am on November 7th, Beijing time), Ctrip Group (stock code: TCOM) and TripAdvisor, Inc (stock code: TRIP, hereinafter referred to as ” TripAdvisor” announced that it has reached a strategic partnership and expanded global cooperation, including the establishment of joint ventures, global content agreements and corporate governance agreements. The specific cooperation content is:

  • Ctrip Group, a subsidiary of Ctrip Group, has established a new joint venture with TripAdvisor subsidiary Singapore Singapore Private LimitedCtrip Group Will be the major shareholder of this new joint venture entity, inject cash investment and provide professional market knowledge; TripAdvisor has a 40% stake in the joint venture company and provides long-term exclusive brand authorization for its Chinese business. Content licenses and other assets.

  • At the level of the joint venture, the two companies will share the inventory of the tourism category, and the joint venture will operate as a TripAdvisor China globally. The two parties reached a global content agreement, providing the content of TripAdvisor to the major brands of Ctrip Group, including Trip.com, Ctrip, Skyscanner and where to go.

  • Ctrip Group also signed a corporate governance agreement with TripAdvisor. Under the agreement, Ctrip Group will have a nomination right for a board seat of TripAdvisor, which will be approved based on the approval of relevant regulatory authorities. To maintain the board of directors, Ctrip Group must purchase TripAdvisor’s 6.95 million shares in the open market or purchase up to $317.6 million in TripAdvisor stock within one year of approval. TripAdvisor and its controlling shareholder, Liberty TripAdvisor Holdings, Inc. (“LTRP”), respectivelyCheng Group’s right to know about the potential transactions of its Class B common stock.

This strategic partnership combines Ctrip’s experience in travel booking, professional understanding of the Chinese travel market, and TripAdvisor’s extensive global user-generated content, point of interest database and destination-related product inventory, marking Ctrip’s The vision has taken an important step.

In Ctrip’s CEO Sun Jie, Ctrip’s overseas business is gradually expanding. This requires Ctrip not only to provide seamless booking of global travel products, but also to provide high quality created by other travelers. Reviews, opinions and pictures.

TripAdvisor Chairman and CEO Stephen Kaufer said that China is one of the world’s largest and fastest-growing travel markets, and the partnership will further expand TripAdvisor’s global reach, and Ctrip will also become a long-term hotel in China. Partners in development goals.