Ctrip revenue jumps 16% on trips, hotels

Source: Xinhua | 2019-03-06

Nasdaq-listed Ctrip reported a revenue growth of 16 percent in the fourth quarter and for the full year of 2018, China’s biggest online tourism agency said yesterday.

The growth has been credited to booming demand for international trips and hotel rooms in China’s “lower-tier” cities.

In 2018, Ctrip’s net revenue reached 31 billion yuan (US$4.5 billion), a 16 percent growth year on year. Net profit in 2018 reached 1.1 billion yuan.

International business, including air tickets, hotels and packaged tours, accounted for 30 to 35 percent of Ctrip’s total revenue, which is expected to increase to 50 percent in the long term.

In the domestic market, affordable hotels in “lower-tier” cities generated 50 percent growth on sales in the fourth quarter, becoming another lucrative market for the Shanghai-based travel company.