SHANGHAI, April 28, 2014 /PRNewswire/ -- Ctrip.com
International, Ltd. (NASDAQ: CTRP), a leading travel service
provider for hotel accommodations, ticketing services, packaged
tours and corporate travel management in China ("Ctrip" or the "Company"), today
announced that the Company has, through Shanghai Ctrip
International Travel Agency Co., Ltd., one of the Company's
affiliated consolidated entities, entered into an investment
agreement with Tongcheng Network Technology Share Co., Ltd.
("Tongcheng Network"), a leading local attraction ticket service
provider that operates LY.com, to become the second largest
shareholder of Tongcheng Network (second only to the management
team) for consideration in cash equivalent to over US$200 million.
"We are very pleased to establish a strategic relationship with
LY.com. We are increasingly positive about the potential of the
travel industry in China. LY.com
is the leading player in the local attraction ticket segment and
we will support the independent operation of LY.com. We are
excited to work with LY.com's team to create greater value for
travelers and help the healthy development of the industry," said
James Liang, Chairman and Chief
Executive Officer of Ctrip.
"We are thrilled to have Ctrip as our strategic investor. Ctrip
is the clear leader in the online and mobile travel industry in
China. This investment will
enhance the strategic cooperation between the two companies and
will ultimately benefit our customers and partners," said
Zhi Xiang Wu, Chief Executive
Officer of LY.com.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of hotel accommodations, ticketing services, packaged
tours, and corporate travel management in China. Ctrip aggregates hotel and flight
information to enable business and leisure travelers to make
informed and cost-effective bookings. Ctrip also helps customers
book vacation packages and guided tours. In addition, Ctrip
corporate travel management services help corporate clients
effectively manage their travel requirements. Since its inception
in 1999, Ctrip has experienced substantial growth and become one of
the best-known travel brands in China.
For more information, please contact:
Investor Relations
Ctrip.com International, Ltd.
Tel: (+86) 21 3406 4880 x12928
Email: iremail@ctrip.com
SOURCE Ctrip.com International, Ltd.