CNG Enters Chinese Market with CTrip Deal
CNG Travel Group plc (CNG) has signed an exclusive three year agreement with Ctrip.com International Ltd (Ctrip), a leading consolidator of hotel accommodation and airline tickets in China.Under the agreement, Ctrip becomes CNG’s exclusive distributor in China, integrating CNG’s global stock of over 25,000 hotels into its booking engine and offering the localised content to leisure and business travel customers via its web site and call centres. CNG also becomes Ctrip’s preferred hotel supply partner for Europe and North America.Ê
Ctrip’s fast growth since 1999, to become one of China’s best-known travel brands, is based on providing hotel and flight booking facilities, using advanced transaction and service platforms for independent frequent travellers, a traditionally under-served yet fast-growing segment of the market.
According to a World Tourism and Travel Council (WTTC) report, China has the potential to be one of the world’s great tourism economies whose ‘future prospects remain extraordinary’. The WTTC currently rates China as the fifth most important tourism destination, and expects it to become the fourth fastest-growing tourism economy. Over the next 10 yea rs, WTTC forecasts China will achieve an annualised real growth rate of 10.4% in travel and tourism demand.
James Liang, co-founder, chairman and CEO of Ctrip, commented: “This relationship with CNG positions Ctrip ideally for future growth. Offering our fast-growing customer base more hotel choices and competitive prices through CNG will increase our hotel reservation revenues. Domestic, outbound and inbound volumes make China one of the fastest-growing travel markets in the world.”
Finbarr Power, CEO and founder of CNG, added: “We are delighted to be announcing this agreement today. Ctrip and CNG are alike in several ways: both young, both provide a highly customer-focused service using advanced technology and both are growing fast. This arrangement gives CNG an important foothold with a significant player in a growing market and allows Ctrip to provide richer hotel content, choice and value for travellers. “