Priceline to invest $500m in Chinese firm Ctrip
August 7 , 2014
Priceline Group, which owns websites such as Booking.com and Agoda, will be investing $500m in Ctrip, China’s biggest online travel firm, according to media reports.
Priceline has also got the rights to buy shares of the Chinese company over the next year. Besides, the two firms have expanded an existing deal for cross-promoting hotel room inventory.
Priceline Chief Executive Darren Huston said the deals provided an opportunity to “further help the world experience China, and China experience the world.”