SHANGHAI, 14 March 2018:m Ctrip, China’s largest travel corporation, reported strong financial results for the full year of 2017 with net revenue increasing 39% year-on-year to reach RMB26.8 billion (USD4.1 billion) for the full year of 2017.
The operating margin for 2017 was 11%, compared to -8% in 2016.
A leading provider of accommodation reservations, transportation ticketing, packaged tours and corporate travel management, Ctrip’s international businesses sustained robust growth according to its financial results for 2017.
CTrip.com, achieved triple-digit growth in air ticketing volume for five consecutive quarters, benefiting from Skyscanner’s direct booking initiatives.
Ctrip opened over 1,000 Ctrip and Qunar branded offline stores in 2017. Total gross merchandise volume of these stores, including 5,000 Traveling Bestone stores, grew over 30% in 2017.
“We had strong results in the fourth quarter, even as we transitioned through short-term challenges in certain areas of our business,” said Ctrip chief executive officer Jane Sun.
“We continue to execute on our growth strategy and are encouraged with our progress, especially in international expansion and penetration of lower-tier cities.”
2017 highlights
Ctrip for the full year ending December 31 reported a net revenue of RMB26.8 billion (USD 4.1 billion), representing a 39% increase from 2016.
Accommodation reservation revenue was RMB9.5 billion (USD 1.5 billion), representing a 30% increase from 2016. The accommodation reservation revenue accounted for 35% of the total revenue in 2017 and 37% of the total revenue in 2016.
Transportation ticketing revenue was RMB12.2 billion (USD 1.9 billion), representing a 38% increase from 2016. The transportation ticketing revenue accounted for 45% of the total revenue in 2017 and remained consistent with 2016.
Packaged tour revenue was RMB3.0 billion (USD 457 million), representing a 29% increase from 2016. The packaged-tour revenue accounted for 11% of the total revenue in 2017 and 12% of the total revenue in 2016.
Corporate travel revenue was RMB753 million (US$116 million), representing a 24% increase from 2016. The corporate travel revenue accounted for 3% of the total revenue in 2017 and remained consistent with 2016.
