Biz / Tech

Tourism websites post strong income in 2017

Ctrip attributed the robust financial performance to rising cross-border tourism

Top Chinese online tourism firms performed strongly in 2017 as they tapped the market for out-bound tourists and the trend for a consumption upgrade in the country, Shanghai Daily learned yesterday.

Shanghai-based Ctrip posted a net profit of 2.1 billion yuan (US$329 million) in 2017, reversing a 1.4 billion yuan loss in the previous year. Its revenue totaled US$4.1 billion last year, after it made strategic acquisitions of smaller domestic rival Qunar and international air ticket service provider Skyscanner.

Ctrip identified globalization and offering quality services for out-border tourists as one of its key strategies, which generated a huge revenue for the company, the Nadaq-listed firm said.

Another online travel agency, Tuniu, managed to narrow its net loss to 771.3 million yuan last year from 2.4 billion yuan in 2016. Its revenue for 2017 surged 53 percent year on year to 2.2 billion yuan.

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