Outbound market lifts online travel

Source: Xinhua | 2018-03-16

TOP Chinese online tourism firms performed strongly in 2017 as they tapped the market for outbound tourists, Shanghai Daily learned yesterday.

Shanghai-based Ctrip posted a net profit of 2.1 billion yuan (US$329 million) in 2017, reversing a 1.4 billion yuan loss in the previous year. Its revenue totaled US$4.1 billion last year, after it acquired smaller domestic rival Qunar and international air ticket service provider Skyscanner.

Nasdaq-listed Ctrip said offering quality services for out-border tourists is one of its key strategies.

Tuniu cut its net loss to 771.3 million yuan last year from 2.4 billion yuan in 2016. Its 2017 revenue surged 53 percent annually to 2.2 billion yuan.