Ctrip and Qunar tie up
Ctrip is to acquire Baidu's stake in rival Qunar in exchange for shares, bringing together two of China's largest online travel agents. The deal leaves Ctrip with 45% of Qunar's voting interests and follows a knock-back earlier this year when Ctrip made an unsolicited offer for the group. Taking Ctrip and Qunar's closing share prices [...]
Airbnb sets 'wrong tone' in SF fight
Airbnb has pulled a series of adverts in San Francisco campaigning against plans for a law that would restrict private, short-term housing rentals. The company's fight came as a note from investment bank Jefferies saw several hotel operators downgraded as a result of the expected impact on trading from the sharing platform. San Francisco's Proposition [...]
Priceline 'cheapest marketing'
The Priceline Group's president & CEO has described the company as "the cheapest way to do paid marketing". The comments were made as the company further increased its stake in Ctrip, increasing its reach into China's growing online travel market. Interviewed while in Dubai, Darren Huston said: "We always pride ourselves on being the cheapest [...]
IHG backs 'lowest price promise'
InterContinental Hotels Group used its latest results to back its new 'lowest price promise' for Holiday Inn Express UK. The company said it had driven digital revenue growth of over 20%, describing it as "good for owners". CFO Paul Edgecliffe-Johnson told analysts: "We continue to improve the services and functionality offered to our existing distribution [...]
GBTA claims drop after Lufthansa charge
The Global Business Travel Association has claimed that Lufthansa has seen two-fifths of travel buyers cut bookings with the carrier since in bought in a EUR16 charge. The airline is currently facing a legal challenge over the charge, but has stuck firm in its attempts to push direct bookings. Michael McCormick, GBTA executive director & [...]