Ctrip reports revenue and GMV growth in 2018
Nasdaq-listed Ctrip reported revenue growth of 16 percent in the fourth quarter and the full year of 2018, thanks to booming demand for international trips and hotel rooms in China's "low-tier" cities, China’s biggest online tourism agency said on Tuesday.
In 2018, Ctrip’s net revenue reached 31 billion yuan (US$4.5 billion), 16 percent growth year-on-year. Net profit in 2018 reached 1.1 billion yuan.
International business, including air tickets, hotels and packaged tours, accounted 30 to 35 percent for Ctrip’s total revenue, which is expected to increase to 50 percent in the long term. In the domestic market, affordable hotels in “low-tier” cities generated 50 percent growth on sales in the fourth quarter, becoming another lucrative market for the Shanghai-based travel company.
Ctrip also announced GMV (gross merchandise volume) figures for the first time, a term often used in online retailing to indicate total sales.
Ctrip’s GMV jumped 30 percent year-on-year to hit 725 billion yuan in 2018, surpassing that of international giants like Booking.com and Expedia.