Deal adds value to Ctrip
Skyscanner boosts new Shanghai owner
Gareth Williams sold Skyscanner last year
Shanghai travel business Ctrip has credited its acquisition of Edinburgh-based travel search engine Skyscanner as a major contributor to its latest trading figures.
Ctrip paid £1.4 billion for Skyscanner last year and has reported a 45% rise in net revenue for the last quarter.
It said almost half the rise was attributable to ticketing, “primarily driven by an increase in ticketing and the consolidation of Skyscanner’s financial results since December 31, 2016”.
Skyscanner reported a 44% increase in turnover last year to £158.3m and a 54% rise in pre-tax profits to £17m.
Ctrip says Skyscanner, based in Edinburgh’s Quartermile, has benefited from a recently launched direct-booking function that allows customers to book trips with partner companies without leaving the Skyscanner site.
“Conversion rates of mobile traffic for direct-booking partners have increased by approximately 50 per cent,” Ctrip said.
Ctrip chief executive Jane Jie Sun hailed the company’s “strong operating and financial results in the second quarter”, adding that the firm is confident it can “generate long-term value for shareholders”.