Ctrip, one of the largest online travel agencies in China, has invested over $200 million in local attraction online ticketing site LY.com.
LY.com allows users to search for places of interest at the local and city levels. For example, if you are interested in visiting zoos or gardens around Suzhou, LY.com pinpoints the right spots within a few clicks. Every place of interest comes with user reviews. If users are satisfied with the reviews, they can purchase tickets directly on the site. Ctrip CEO James Liang said in the statement:
LY.com is the leading player in the local attraction ticket segment and we will support the independent operation of LY.com. We are excited to work with LY.com’s team to create greater value for travelers and help the healthy development of the industry.
In recent years, Ctrip has made multiple investments and acquisitions in travel related startups including YongChe, Economy Hotel Manager,and Kuxun. Its biggest competitors are the recently IPO-ed Qunar (owned by Baidu) and eLong (majority owned by Expedia).Editing by Charlie Custer