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CTRIP.COM INTERNATIONAL

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Ctrip CEO Jane Sun Discuses Globalization 4.0 At Davos

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01/24/2019 | 08:09am EDT

DAVOS, Switzerland, Jan. 24, 2019 (GLOBE NEWSWIRE) -- Ctrip, the largest travel provider in Asia, attended the 49th World Economic Forum Annual Meeting in Davos, Switzerland, where Chief Executive Officer Jane Sun discussed topics including big data, technology, travel safety and shared Ctrip’s strategy for international expansion and its plan for embracing “Globalization 4.0.”

Photo 1
Photo: Jane Sun, CEO of Ctrip at the World Economic Forum in Davos, Switzerland


Photo 2
Photo: Jane Sun, CEO of Ctrip speaks at Davos panel


Under this year’s theme of “Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution,” representatives at the Forum discussed the strategic ramifications of Globalization 4.0 and its future impact on global cooperation. Against this larger context, Sun discussed Ctrip’s role and responsibilities as a comprehensive global travel provider.  

China continues to be the world's largest source of outbound tourists. In order to better serve Chinese tourists around the world, Ctrip has carried out a series of international mergers and acquisitions in recent years to better create a global service platform for all. In 2015, Ctrip completed the acquisition of Travelfusion and in 2016 the company invested in Makemytrip and Skyscanner.

As the tourism industry develops, Ctrip will continue to embrace new partnerships to make its global travel ecosystem even more seamless and convenient. As a result of its overseas acquisitions, international users now make up more than 45% of Ctrip customers. Thanks to Ctrip’s acquisition of Trip.com, an independent tourism platform providing services to global users, along with Skyscanner, a Scottish flight search platform, Ctrip’s total number of monthly active users now exceeds 200 million.

The growth rate of international overnight hotel stays is twice that of the overall industry rate, and growth in international air tickets is three times that of the overall industry rate.  

New tourism industry: the era of globalization and integration

Globalization and integration of the tourism industry has created many opportunities. Consumers increasingly demand a more personalized tourism experience, and tourism products are gradually becoming more diversified.

In order to cater to increasing demand for personalized travel, Ctrip has been working closely with overseas local partners and providers to provide travellers a full range of options; not only air tickets, hotels and car services, but also local day trip, cuisine and shopping suggestions. Ctrip Group has grown into a one-stop travel platform, which accompanies travellers for the duration of their trip.

In addition, Ctrip’s Global SOS is the world's first 24/7 emergency support system, integrating services with technology and data to provide timely support for travellers in times of emergencies. Since its launch in 2017, Global SOS has successfully come to the aid of travellers during disasters such as 2018’s ferry crash in Phuket, the Hokkaido earthquake and the Osaka typhoon. With a 94% success rate and 70% of all calls coming from overseas, Ctrip believes that it is vital for the travel industry to establish global standards and a set of emergency response mechanisms for the safety of travellers.

With more than half of the employees devoted to customer care, Ctrip is continuously upgrading services, technology and resources to ensure that our customer service teams around the world are able to keep up with our globetrotting travellers.

Decentralized Global Travel Platform

Apart from providing a global, integrated service to Chinese travellers, Ctrip also serves overseas users. Ctrip aims to serve local people in overseas markets by creating a decentralized global platform.

With the opening of the Edinburgh call center in April 2018, and the establishment of call centers in Seoul and Tokyo at the end of 2018. Ctrip's three call centers are designed to overcome barriers to global tourism by strengthening local services.

In addition, Ctrip has leveraged its technology and innovative drive to introduce the TrainPal APP in the UK. The new app allows users to save on average 40% and as much as up to 89% on ticket purchases and fully reflects the innovation and growth path of China's global integrated service providers in the era of globalization 4.0.  

“Ctrip Group is confident that we will become a leading global travel service provider during this era of Globalization 4.0 through our focus on innovation, technology, local markets and customer care,” said Jane Sun, CEO of Ctrip. “Safeguarding data and using this to serve our customers remains our top priority.”

About Ctrip.com International, Ltd.

Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip enables business and leisure travelers to make informed and cost-effective bookings by aggregating comprehensive travel related information and offering its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip also helps customers book vacation packages and guided tours. In addition, through its corporate travel management services, Ctrip helps 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 further information, please contact:

International PR
Ctrip.com International, ltd.
Tel: (+86) 21 3406 4880 ext 196455
Email: Pr@ctrip.com

Photos accompanying this announcement are available at: 

http://www.globenewswire.com/NewsRoom/AttachmentNg/bae217c6-680d-41b2-8b4b-5f4e0cf27e62

http://www.globenewswire.com/NewsRoom/AttachmentNg/836b8612-99ef-4f26-becb-0c6dd5ca3247

ctrip logo.png


© GlobeNewswire 2019
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Financials (CNY)
Sales 2019 37 016 M
EBIT 2019 5 757 M
Net income 2019 3 535 M
Debt 2019 13 771 M
Yield 2019 -
P/E ratio 2019 56,23
P/E ratio 2020 37,91
EV / Sales 2019 4,82x
EV / Sales 2020 3,98x
Capitalization 165 B
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 285  CNY
Spread / Average Target -4,4%
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Managers
NameTitle
Jane Jie Sun Chief Executive Officer & Director
Min Fan Vice Chairman & President
Jian Zhang Liang Executive Chairman
Maohua Sun Chief Operating Officer & Executive Vice President
Xiao Fan Wang Chief Financial Officer & Executive Vice President
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