Chinese online travel agency Ctrip.com International (CTRP) has had a strong November and December, with hotel bookings accelerating as millions of users downloaded the company’s mobile app, says an analyst. Ctrip stock was up 2.5% in midday trading in the stock market today, while competitor Qunar (QUNR), which is partially owned by Baidu (BIDU), was down 1.5%. Competitor eLong (LONG) traded about even. Shanghai-based Ctrip in early December
Autohome drove 77% higher in its IPO debut Wednesday, the latest sign that U.S. investors’ appetite has returned for Chinese Internet companies going public. Autohome (ATHM) says its website is the leading online destination for auto shoppers in China. It follows the successful launch of other China-based tech companies, such as online travel site Qunar (QUNR), which rose 89% in its Nov. 1 debut and online marketplace 58.com
Baidu-backed Chinese online travel agency Qunar sees mobile travel bookings as a crucial part of its strategy to keep grabbing market share and remain China’s most-visited online travel website. Qunar — the name means “Where are you going?” in Chinese — is 61% owned by Baidu (BIDU), China’s No. 1 search engine. Jenna Qian, deputy general manager of Beijing-based Qunar Cayman Islands (QUNR), told IBD that Qunar, which raised $167 million in a