chinadotcom corporation has announced a joint venture with leading Taiwan travel-service group South East Travel Service Co., Ltd. (SET) through its majority owned subsidiary, hongkong.com Corporation making it a dominant force in the online/offline travel service business in the Greater China market.
The joint venture will operate Travio Global Inc., a B2B travel services company. With this expansion of its B2B travel service offerings, hongkong.com significantly broadens the range of online/offline travel products and services it offers to the Greater China market. Travel within the Greater China region, particularly between Taiwan and China, already is among the fastest growing segments in the market. This growth is expected to accelerate upon China`s entry to the WTO. According to a Tourism Bureau Republic of China survey, the number of travelers between Mainland China (including Hong Kong and Macau) and Taiwan was 3.5 million in 2000. The number is expected to increase to more than 4 million in 2001 and continue growing steadily over the next five years.
The joint venture strengthens hongkong.com`s e-travel business strategy and organization which includes TTG Asia Media Pte Ltd., a market leader in travel-trade related publications, trade shows and software development, Chinaholiday.com which is a major China-based e-travel business, and a strategic partnership with Hotelbank, a subsidiary of Micros Fidelio, global leader in central reservation solutions for hotels.
A new travel B2B system will be developed aiming to be the market leader in the online travel sector in Greater China. The JV will provide travel products and services through the system facilitating online travel-business transactions. The system eventually will encompass other components to provide the one of most comprehensive and competitive range of travel services and products in this potentially large market.