Ctrip revenue surges in 2016

SHANGHAI, 24 February 2017: Ctrip’s net revenue for its fiscal year 2016 reached RMB19.2 billion (USD2.8 billion) a massive 76% increase over 2015.

Ctrip.com International, a leading travel provider headquartered in China announced, Thursday, its unaudited financial results for the full year ending 31 December 2016.

Despite the massive increases in net revenue, the company reported a full year a loss from operations of RMB1.6 billion (USD226 million), compared to income from operations of RMB381 million in 2015.

inside no 2The net loss attributable to Ctrip’s shareholders was RMB1.4 billion (USD206 million), compared to net income of RMB2.5 billion in 2015.

Accommodation reservation revenues reached RMB7.3 billion (USD1.1 billion), representing a 58% increase from 2015. The hotel reservation revenues accounted for 37% of the total revenues in 2016.

Transportation ticketing business benefited from fast growing new business units and strong execution.

For the entire year, revenues reached RMB8.8 billion (USD1.3 billion), representing a 98% increase from 2015.

Package tour revenues reached RMB2.3 billion (USD333 million), representing a 39% increase from 2015. The Packaged-tour revenues accounted for 12% of the total revenues in 2016.

Corporate travel revenues reached RMB608 million (USD88 million), representing a 29% increase from 2015. The corporate travel revenues accounted for 3% of the total revenues in 2016.

In December 2016, Ctrip completed the acquisition of Skyscanner Holdings Limited a leading global travel search site headquartered in Edinburgh, UK.

“Ctrip has been expanding its global footprint through China’s growing outbound travel demand,” said executive chairman James Liang. “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.”

In is business outlook for the first quarter of 2017, the company expects net revenue growth to continue at a year-on-year rate of approximately 40% to 45%.

(Source: Ctrip)