Behind the scenes, China's competition crackdown on internet platforms could eventually have a larger impact on Trip.com Group's partnerships, business practices, and mergers than is generally appreciated. Although a reversal is unlikely, even Trip.com's 2015 acquisition of Qunar has drawn scrutiny.
How do you measure the largest booking site in the world? Is it rooms sold, gross bookings, commissions earned, or profits. A look into Trip.com shows the need to be nuanced in analyzing an online travel agency's financials.
Ctrip didn't realize the extent of the problem it would inherit with its acquisition of Qunar given the latter's disputes with China's largest airlines. The direct-booking wars are acute in China, where the government has called on the airlines to sell half of their tickets on their own websites by 2018.
25 Moments that Mattered in 2015: To make our selection of 25 moments, we thought back to the stories that drove reader engagement and sparked discussion among both travel experts and the general public. Some stories were quick blips that represented bigger things while others were narratives that built slowly through out the year. Each one, though, spoke to where we are right now when it comes to the big business of global travel.
Sometimes Qunar wants us to believe it can sail through a hurricane unscathed in a sailboat. We'll have to see how the Chinese economic crisis ultimately impacts the Chinese travel market -- and the world.
It is no surprise the Qunar has not raised a white flag in reaction to Ctrip's maneuverings. With an injection of $500 million, let the games continue.