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Ctrip reports 76% net revenue increase
   2017-02-23 16:13:24    CRIENGLISH.com      Web Editor: Zhang Xu

Ctrip.com International, Ltd., a leading travel service provider, Thursday reported a net revenue of RMB19.2 billion (US$2.8 billion) for 2016, a 76% increase from 2015.

Accommodation reservation revenues were RMB7.3 billion (US$1.1 billion), representing a 58% increase from 2015, according to Ctrip. The hotel reservation revenues accounted for 37% of the total revenues in 2016 and 40% of the total revenue in 2015.

Transportation ticketing revenues were RMB8.8 billion (US$1.3 billion), representing a 98% increase from 2015. The transportation ticketing revenues accounted for 45% of the total revenues in 2016 and 39% of the total revenue in 2015.

As of December 31, 2016, the balance of cash and cash equivalents, restricted cash and short-term investment was RMB34 billion (US$5 billion).

Packaged-tour revenues were RMB2.3 billion (US$333 million), representing a 39% increase from 2015. The packaged-tour revenues accounted for 12% of the total revenues in 2016 and 15% of the total revenue in 2015.

Corporate travel revenues were RMB608 million (US$88 million), representing a 29% increase from 2015. The corporate travel revenues accounted for 3% of the total revenues in 2016 and 4% of the total revenue in 2015.

For the first quarter of 2017, Ctrip expects the net revenue growth to continue at a year-on-year rate of approximately 40-45%.

In December 2016, the Company completed the acquisition of Skyscanner Holdings Limited ("Skyscanner"), a leading global travel search site headquartered in Edinburgh, the United Kingdom. Ctrip has consolidated Skyscanner's financial results since December 31, 2016.

"Ctrip has been expanding its global footprint through China's growing outbound travel demand," said James Liang, Executive Chairman. "The addition of Skyscanner has complemented our positioning on a global scale. Skyscanner and Ctrip plan to share the best practices to unlock the potential of both brands."

"The solid results in the fourth quarter of 2016 ended the year on a high note," said Jane Jie Sun, Chief Executive Officer. "The group delivered both healthy revenue growth and significant margin expansions throughout the year, despite challenges in the air ticket distribution environment. These results demonstrate the strength of our teams across all our business lines. Through our one-stop travel platform, we will continue to innovate and execute to better serve more customers around the world."

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