Headquarters in Shanghai
|Formerly||Ctrip.com International, Ltd.|
|Revenue||US$ 5.12 billion (2019)|
|US$ 1.0 billion (2019)|
|Total assets||US$ 28.75 billion (2019)|
Number of employees
Trip.com Group Limited (formerly Ctrip.com International) is a Chinese multinational online travel company that provides services including accommodation reservation, transportation ticketing, packaged tours and corporate travel management. Founded in 1999, the company owns and operates Trip.com, Skyscanner, Qunar, and Ctrip, all of which are online travel agencies.
The company was listed on the NASDAQ in 2003 through a variable interest entity (VIE) based in the Cayman Islands in a Merrill Lynch-led offering, raising US$75 million from the sale of 4.2 million American depositary receipts at $18 each. It appreciated 86% to close at $33.94 per ADR in its first day of trading. The stock traded at a peak of $37.35 on its first day of trading, making it the first company since the November 2000 IPO of Transmeta to double its price in the first day of trading.
On August 6, 2014, Priceline.com, announced that it will invest $500 million in the company to broaden the companies’ options in China. Priceline and Ctrip, which have had a commercial partnership since 2012, will increase their cross-promotion of each company's hotel inventory and other travel services, the companies said in a statement.
In February 2018, Ctrip launched TrainPal, an online ticketing platform featuring split ticketing, in the United Kingdom. Accredited by the National Rail of the UK, TrainPal mainly provides services for the UK, and other European countries.
On October 25, 2019 at its 2019 annual general meeting of shareholders, it was approved to change the Company name from "Ctrip.com International, Ltd." to "Trip.com Group Limited".
In June 2020, Trip.com joined China Eastern to launch new airline in Hainan as plans to make the island a free trade hub promise greater air traffic.
The company is a proponent of scientific management. One example of this is the randomized control trial Ctrip ran on telecommuting, which has strong impact on company profits. Before making management decisions, Ctrip conducted an experiment on 242 employees, sponsored by professors at Stanford University and Peking University. The experiment found that employees randomly assigned to work at home for 9 months increased their output by 13.5% versus the office-based control group, and their turnover rates fell by almost 50%. Ctrip subsequently implemented telecommuting across the company.
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- "Jane Jie Sun". Forbes.
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- "Payment Methods Report 2019 - European Payments Council" (PDF). European Payments Council. 28 June 2019.
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- "Completion of Naspers share exchange transaction with Ctrip" (Press release). Naspers. September 5, 2019.
- "Ctrip Announces Share Exchange Transaction with Naspers" (Press release). PR Newswire. April 26, 2019.
- Schaal, Dennis (October 25, 2019). "Ctrip Name Change to Trip.com Group Is Now Official". Skift.
- “China Eastern to launch new airline in Hainan with partners including Trip.com unit, as plans to make the island a free trade hub promise greater air traffic”
- Garvin, David (January 1, 2012). "Ctrip: Scientifically Managing Travel Services". Harvard Business School..
- Bloom, Nicholas, Liang, James, Roberts, John and Ying, Jenny "Does working from home work? Evidence from a Chinese experiment" Stanford Research Paper, February 2013.
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