Ctrip Changing Name to Trip.com Group to Emphasize International Business

Ctrip Changing Name to Trip.com Group to Emphasize International Business

Ctrip will become the third major online travel agency to change its name since 2018. The new proposed brand for the Shanghai-based company would be Trip.com Group Ltd. That follows the Priceline Group rebranding to Booking Holdings in 2018, which was followed shortly thereafter by Expedia Inc. becoming Expedia Group.To get more Ctrip news, you can visit shine news official website.

So Ctrip’s major brands, including Ctrip, Trip.com, Qunar, and Skyscanner would all fall under the purview of the parent company, Trip.com Group Ltd. Ctrip announced the rebranding as part of its second quarter earnings call Tuesday in Shanghai.“The new name reflects the services and products we provide, and can be easily remembered by global users,” Ctrip Executive Chairman James Jianzhang Liang said as part of the earnings announcement.

The rebrand is subject to a shareholder vote at Ctrip’s annual general meeting October 25.

Ironically, Expedia Group indirectly handed the Trip.com name to Ctrip. That’s because Expedia sold the name Trip.com to Gogobot, which in turn got acquired by Ctrip in 2017. Gogobot had rebranded to become Trip.com.

Ctrip CEO Jane Sun said Tuesday morning during an earnings call with financial analysts that international revenue could be 40 to 50 percent of Ctrip’s total revenue in the next three to five years, up from 35 percent in the second quarter.Although international business is expected to be a growth driver for the online travel agency, the ongoing protests in Hong Kong, political tensions with Taiwan, and the U.S-China trade war negatively impact third quarter guidance, Sun said.

In addition, according to a research report, the “average price of outbound air ticket dropped about 750 basis points year-over-year in July as a result of softer demand and macro uncertainties,” she added.

Ctrip is guiding for 10-15 percent revenue growth in the third quarter. In the third quarter of 2018, revenue climbed 15 percent.Ctrip’s international ambitions became clear with a recent move in India. In the past few days, it completed a share exchange with Naspers which made Ctrip the largest shareholder of India’s MakeMyTrip, wielding 49 percent of MakeMyTrip’s voting power.

The China-based online travel company intends to start reporting MakeMyTrip’s gains and losses on its balance sheet using the so-called equity method as of August 30, Ctrip said.

For the second quarter, Ctrip posted net loss of $59 million compared to net income of $360 million a year earlier. The company attributed the loss largely to the plunging value of equity investments. Revenue in the second quarter increased 19 percent to $1.3 billion.

Why UBS Is Holding Up Better Than Most Banks During the Pandemic

UBS Group (NYSE:UBS) is one of the world's premier asset managers, with business lines in investment banking, corporate and consumer banking, and the golden goose: global wealth management. After plunging in the market's sell-off earlier this year, UBS' stock has been climbing steadily on the back of a strong first-quarter earnings report. It's now down about 7% in 2020 after surging more than 50% from its lows.To get more UBS news, you can visit shine news official website.

While the other big bank stocks have been largely sluggish since March, UBS is racing ahead in a competitive space. Here's what's behind UBS' rally, and why it might be a great buy today.

During the Great Recession, banks -- both foreign and domestic -- were a large part of the problem. Overleveraged trading divisions were hit hard as mortgage-backed securities, one of the largest markets for bond notes and derivatives trading, were decimated.

The fundamentals of the current recession are very different. No longer so overextended, banks had been on a relatively conservative growth trajectory, bolstered by strong balance sheets and a booming economy. While many are bracing for extensive loan losses, they appear to be better capitalized in this crisis.

And some -- those that rely less on lending and more on wealth management and investment banking -- are doing even better. Given its market positioning and revenue drivers, UBS is one of the institutions getting a boost during this crisis. For the quarter ending on March 31, UBS reported that net profit after taxes rose 40% year over year, a phenomenal gain.UBS' global wealth management group, which accounted for 57% of the company's operating income, reported numbers that reveal a coronavirus bump. While net interest income remained fairly steady (up 2% year over year), transaction-based income increased 19% over the same period in 2019 and 28% from the fourth quarter on "higher levels of client activity" -- understandable given March's record volatility.

While often derided as the least prestigious (read: smallest) of the global investment banks, UBS' investment banking division (which contributed 31% of operating income) reported stunning numbers in the first quarter: $1.6 billion in net income, up from $949 million in the previous quarter and $1.1 billion in Q1 2019 -- incredible increases of 70% and 47%, respectively.

With the global recovery still very much up in the air, that continued uncertainty may mean those elevated client activity levels are here to stay. So, while banks like JPMorgan Chase have failed to regain traction after the coronavirus plunge, UBS became the little engine that could.