For the namesake travel agency, see Trip.com.

Trip.com Group Limited is a multinational online travel agency(OTA). It is one of the largest travel service providers in the world.[3]

Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship[citation needed] Trip.com, Skyscanner, CTrip, Qunar, Travix, and MakeMyTrip.[2] It has operations in 39 countries and regions, and the company offers services in 30 languages, supporting over 1.7 million hotels, 600 airlines, and 560,000 attractions globally.[2] The company is ranked 820th on the Forbes Global 2000.[4]

History

The company was founded as Ctrip.com by James Liang, Neil Shen, Min Fan, and Qi Ji in June 1999.[5][6]

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.[6]

On August 6, 2014, Priceline.com, announced that it will invest $500 million in the company to broaden the companies’ options in China, and the companies, which had a commercial partnership since 2012, increased their cross-promotion of each company's hotel inventory and other travel services.[7][8] The investment was increased by $250 million in May 2015.[9]

In November 2016, the company acquired Skyscanner for £1.4 billion.[10][11] That same month, Jane Sun became the CEO of Ctrip.[12] She had joined the company in 2005.[13]

On November 1, 2017, Ctrip acquired Trip.com, rebranding it as its global brand website.[14][15]

In February 2018, Ctrip launched TrainPal, an online ticketing platform[16] featuring split ticketing,[17] in the United Kingdom.[18] Accredited by the National Rail of the UK,[19] TrainPal mainly provides services for the UK, and other European countries.[20]

In September 2019, Ctrip completed a share exchange with Naspers and became the single largest shareholder of MakeMyTrip.[21][22]

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".[23]

On April 19, 2021, Trip.com Group was listed on the Hong Kong Stock Exchange.[24]

In 2023, Trip.com Group noted its recovery from the pandemic by achieving a record-breaking GMV of USD 160 billion, establishing itself as one of the world's largest OTA by GMV. [25]

In July 2023, AI-powered travel assistant TripGenie was launched on its platforms, leveraging large language models to provide personalised travel planning and bookings.[26]

On September 11, 2023, the company hosted its first international Envision Annual Global Partner Conference, which focused on the transformation of travel experiences through sustainability and technology.[27]

On August 16, 2024, Ctrip Asia Live Broadcast Center was unveiled in Thailand.[28]

Technology

Trip.com Group leverages advanced AI and machine learning technologies to deliver personalized travel experiences. AI-driven tools like TripGenie assist travelers with real-time updates, itinerary optimization, and tailored recommendations, streamlining the travel planning process.[29]

The company also uses AI to enhance customer service. With a 78% chatbot self-service rate, the company's AI-enhanced customer service resolves the majority of customer inquiries instantly, significantly improving efficiency and customer satisfaction.[30]

Futhermore, innovative tech solutions support the company's sustainability goals, such as carbon emissions calculators for flights and green travel recommendations that promote eco-friendly tourism.[31]

ESG & Sustainability

Trip.com Group is deeply committed to sustainability and ESG initiatives, aiming to achieve carbon neutrality by 2050. It is a Founding Partner of Travalyst, a not-for-profit sustainable travel coalition.

By integrating carbon offset options for flights and car rentals, and providing emission insights for train travel, the platform empowers customers to make eco-friendly choices.[32]

The Group also established an ESG Management Committee, led by CEO Jane Sun, to drive corporate responsibility projects globally. Its initiatives include childcare subsidies, hybrid work policies, and partnerships with organizations such as the Global Sustainable Tourism Council (GSTC) and the United Nations Global Compact (UNGC). These efforts underline Trip.com Group’s vision of a more sustainable and inclusive travel industry.

Trip.com Group's sustainability strategy is built around four key pillars: Community-Friendly, Environmentally-Focused, Family-Friendly, and Stakeholder-Friendly.

Community-Friendly: Committed to supporting local communities through charitable initiatives and promoting sustainable tourism practices such as rural revitalisation through Country Retreats projects.[33]

Family-Friendly: Supporting employees and families with initiatives such as RMB 1 billion childcare subsidies and hybrid work policies. In 2022, Trip.com Group implemented a hybrid work model, allowing employees to work remotely two days per week. This policy has been adopted by over 66% of the workforce, saving employees 300,000 hours of commuting time annually and improving work-life balance. The initiative reflects the company’s commitment to employee well-being and flexibility.[34]

Environmentally-Focused: Dedicated to achieving carbon neutrality by 2050, with innovative solutions like lower-emission flights, electric vehicle options, and carbon offset programs.

Stakeholder-Friendly: Establishing strong ESG governance frameworks to foster responsible business practices and global partnerships.[35]

As a socially responsible organization, Trip.com Group actively collaborates with leading global initiatives such as the Global Sustainable Tourism Council (GSTC), the United Nations Global Compact (UNGC), and the Science Based Targets initiative (SBTi). These partnerships drive the company’s commitment to sustainable and inclusive growth within the travel industry.[36]

Trip.com Group has published a range of insightful reports to inform and guide sustainable practices in the travel industry. These include: 2023 ESG Repor[37]t; 2022 Sustainable Travel Consumer Report[38]; The Path Toward Eco-Friendly Travel in China (2022)[39]; A World in Motion: Shifting Consumer Travel Trends (2022)[40]. These publications highlight the Group's commitment to transparency and leadership in environmental, social, and governance (ESG) practices.

Customer Service

Key efforts include the launch of a Global SOS Platform, which supports travellers in emergencies with services in 24 languages. Customer Service Awards include:[41]

CRE Awards 2022[42]

CRE Awards 2024[43]

CX Asia Excellence Awards 2023[44]

Lifestyle Travel Awards (TH) 2024 Travolution Awards 2024[45]

Partnerships

Partnership with Ryanair: Trip.com Group has established a partnership with Europe's largest airline, Ryanair, allowing Trip.com Group's platform to offer Ryanair's flight services.[46]

Partnership with Mastercard: Trip.com Group has signed a Memorandum of Understanding with Mastercard Asia-Pacific to enhance the travel experience and benefits for customers. The collaboration includes joint marketing activities and a range of products and services for customers, such as access to airport VIP lounges, hotel room upgrades, early check-ins, late check-outs, and priority reservations.[47]

Partnership with Alipay: Alipay has partnered with Trip.com and other top online travel agencies to launch selected tour packages and travel guides for international visitors.[48]

Partnership with the Department of Culture and Tourism of Abu Dhabi: Trip.com Group announced a strategic partnership with the Department of Culture and Tourism of Abu Dhabi to showcase the destination's global appeal.[49]

Awards and Recognition

Trip.com Group has received numerous accolades for its innovation and sustainability efforts. Recent awards include:

2023 Forbes China ESG Innovation Enterprise[50]

UN Women China WEPs Gender-Inclusive Workplace Award

2023 LinkedIn Talent National Excellence Management Award – Diversity Pioneer.[51]

2024 Global Responsible Business Leadership Award

2024 Campaign Asia CMO[52]

2024 Fortune Future 30 Asia[53]

HR Asia Award 2024[54]

References

  1. ^ "Trip.com Group Limited Reports Unaudited Fourth Quarter and Full Year of 2023 Financial Results". 2024-08-27.
  2. ^ a b c "Trip.com Group Limited 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. April 29, 2024.
  3. ^ "Where The Big Four Online Travel Agencies — Expedia, TripAdvisor, Ctrip, & Priceline — Are Placing Their Bets". CB Insights Research. November 9, 2017.
  4. ^ "Trip.com Group - Company Overview & News". Forbes.
  5. ^ Flannery, Russell (March 29, 2010). "Ctrip's Remarkable Journey: China travel boom fuels hotel chain IPO". Forbes.
  6. ^ a b Beltran, Luisa (December 9, 2003). "Ctrip.com IPO soars in first day". MarketWatch.
  7. ^ Surane, Jennifer; Cao, Jing (August 6, 2014). "Priceline Investing $500 Million in Ctrip Travel Agency". Bloomberg News.
  8. ^ Gu, Wei (August 7, 2014). "Priceline to Invest $500 Million in Ctrip". The Wall Street Journal.
  9. ^ Ajmera, Ankit (26 May 2015). "Priceline to invest additional $250 million in China's Ctrip.com". Reuters.
  10. ^ "Ctrip Announces Agreement to Acquire Skyscanner" (Press release). Skyscanner. November 23, 2016.
  11. ^ Russell, Jon (23 November 2016). "China's Ctrip is buying flight search company SkyScanner for $1.74 billion". TechCrunch.
  12. ^ "Ctrip Announces Ms. Jane Jie Sun as New CEO and Director" (Press release). PR Newswire. November 16, 2016.
  13. ^ "Jane Jie Sun". Forbes.
  14. ^ O'Neill, Sean (19 November 2017). "Ctrip Relaunches Trip.com as Its English Language Travel Agency Brand". Skift.
  15. ^ Tan, Kenneth (May 5, 2018). "Ctrip launches new global brand Trip.com, removes all references to the site being China-owned". Gothamist.
  16. ^ "Trade war puts Chinese tourists off US". Bangkok Post. May 13, 2019.
  17. ^ "Cheap train tickets: how to save money on rail fares with split ticketing and other tips". Inews.co.uk. July 3, 2019.
  18. ^ "Split-city ticketing: the trick that can make your train travel cheaper". Rail Professional. November 28, 2019.
  19. ^ "Payment Methods Report 2019 - European Payments Council" (PDF). European Payments Council. 28 June 2019.
  20. ^ Deng, Iris (May 15, 2019). "Trade war is putting Chinese tourists off US, with many opting for 'more welcoming' nations". South China Morning Post.
  21. ^ "Completion of Naspers share exchange transaction with Ctrip" (Press release). Naspers. September 5, 2019.
  22. ^ "Ctrip Announces Share Exchange Transaction with Naspers" (Press release). PR Newswire. April 26, 2019.
  23. ^ Schaal, Dennis (October 25, 2019). "Ctrip Name Change to Trip.com Group Is Now Official". Skift.
  24. ^ Yu, Sophie; Murdoch, Scott (April 19, 2021). "Trip.com Group shares gain 4.5% in Hong Kong debut". Reuters.
  25. ^ "Trip.com Group Limited (NASDAQ:TCOM) Q4 2023 Earnings Call Transcript". https://finance.yahoo.com/. Yahoo Finance. {{cite web}}: External link in |website= (help)
  26. ^ "Trip.com introduces AI travel assistant TripGenie". TTG Asia.
  27. ^ "GSTC at Trip.com Group Envision 2023 Global Partner Conference". The Global Sustainable Tourism Council.
  28. ^ "Trip.com Group Unveils Asia Live Streaming Centre in Bangkok to Showcase Thailand's Tourism Offerings". Australian Associated Press. Retrieved 2024-10-28.
  29. ^ "Trip.com Group Empowers the Travel Industry with Transformative AI Innovation". https://www.prnewswire.com/. {{cite web}}: External link in |website= (help)
  30. ^ "Trip.com Group Empowers the Travel Industry with Transformative AI Innovation". https://www.prnewswire.com/. {{cite web}}: External link in |website= (help)
  31. ^ "Trip.com announces long-term green tourism goals". https://www.breakingtravelnews.com/. {{cite web}}: External link in |website= (help)
  32. ^ "Journey Towards Sustainability: Trip.com Group Highlights ESG Progress & Key Actions in Latest Report". https://www.prnewswire.com/. {{cite web}}: External link in |website= (help)
  33. ^ "Trip.com's Country Retreats featured in UN Global Compact ESG 20 report". https://travtrip.net/. {{cite web}}: External link in |website= (help)
  34. ^ "How Trip.com Made Millions with Hybrid Work". https://kadence.co/. {{cite web}}: External link in |website= (help)
  35. ^ "ESG (Environmental, Social, and Governance) in Travel and Tourism, 2022 Thematic Research Report - ResearchAndMarkets.com". https://www.businesswire.com/. {{cite web}}: External link in |website= (help)
  36. ^ "Trip.com joins GSTC's Market Access Program". https://www.gstcouncil.org/. {{cite web}}: External link in |website= (help)
  37. ^ "Accelerating sustainable and inclusive growth for all". https://www.mckinsey.com/. {{cite web}}: External link in |website= (help)
  38. ^ "Trip.com Group : Sustainable Travel Consumer Report From Trip.com Group Reveals Deeper Understanding of the Sustainable Trip, Identifies Opportunities for Travel Industry". https://www.pata.org/. {{cite web}}: External link in |website= (help)
  39. ^ "The path toward eco-friendly travel in China". https://www.mckinsey.com/. {{cite web}}: External link in |website= (help)
  40. ^ "WTTC and Trip.com Group global traveller report reveals shift towards sustainable travel". https://www.prnewswire.com/. {{cite web}}: External link in |website= (help)
  41. ^ "携程首推"全球旅行SOS"服务 助力"让旅行更幸福"". https://news.sina.com.cn/. {{cite web}}: External link in |website= (help)
  42. ^ "Trip.com awarded Contact Center of the Year 2022 at CRE Awards". https://trendgrnd.com/. {{cite web}}: External link in |website= (help)
  43. ^ "TRIP.COM WINS DOUBLE AWARDS FOR OUTSTANDING CUSTOMER SERVICE!". https://eglobaltravelmedia.com.au/. {{cite web}}: External link in |website= (help)
  44. ^ https://www.linkedin.com/ https://www.linkedin.com/posts/tripcomgroup_triplife-cxasiaexcellenceawards-customerexperience-activity-7135945573265797120-OBoW/. {{cite web}}: External link in |website= (help); Missing or empty |title= (help)
  45. ^ "TRAVOLUTION AWARDS 2024 SHORTLISTS REVEALED". https://www.travolution.com/. {{cite web}}: External link in |website= (help)
  46. ^ "Ryanair announces approved OTA partnership with Trip.com". https://www.traveldailynews.com/. {{cite web}}: External link in |website= (help)
  47. ^ "Trip.com and Mastercard partner to offer discounts in 17 APAC territories". https://www.marketing-interactive.com/. {{cite web}}: External link in |website= (help)
  48. ^ "Alipay partners with Trip.com to launch selected China tour packages for international tourists". https://www.chinatravelnews.com/. {{cite web}}: External link in |website= (help)
  49. ^ "The Department of Culture and Tourism - Abu Dhabi Partners with Top Global Travel Service Provider Trip.com Group". https://dct.gov.ae/. {{cite web}}: External link in |website= (help)
  50. ^ "Trip.com Group awarded in 2023 Forbes China Global Brands Selection 30&30 for outstanding global growth". https://www.prnewswire.com/. {{cite web}}: External link in |website= (help)
  51. ^ https://www.linkedin.com/ https://www.linkedin.com/posts/tripcomgroup_diversityandinclusion-linkedintalentawards2022-activity-7074687898897244160-8z1-/. {{cite web}}: External link in |website= (help); Missing or empty |title= (help)
  52. ^ "The CMO's MO: Through the clouds and into silver linings with Bo Sun Read more at: https://www.campaignasia.com/article/the-cmos-mo-through-the-clouds-and-into-silver-linings-with-bo-sun/485511". https://www.campaignasia.com/. {{cite web}}: External link in |title= and |website= (help)
  53. ^ "Trip.com Group secures coveted spot on Fortune Asia Future 30 list, among Asia's most innovative and high-growth companies". https://www.thailand-business-news.com/. {{cite web}}: External link in |website= (help)
  54. ^ https://hr.asia/awards/home/. {{cite web}}: Missing or empty |title= (help)
Allikas: https://en.wikipedia.org/wiki/Ctrip
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