Chinese online travel agency (OTA) Trip.com [TCOM:US] was reportedly to acquire a Dutch OTA called Travix from the corporate travel giant BCD Travel on April 21, without revealing the price of the transaction, as reported by Sohu on May 22, citing people familiar with matter. Trip.com confirmed the aforesaid acquisition later and added that the move was decided before the outbreak of COVID-19, but the approval period was long.
Established in 2001 and headquartered in Amsterdam, Travix focuses on operating its OTA platform to provide online ticketing services in 39 countries across Europe, America, and Asia. Tavix has numerous travel sub-brands, including CheapTickets BV, Flugladen, Vayama, and Vliegwinkel, with offices in Netherlands, Australia, Curacao, Germany, India, Singapore, the UK and the US. The move this time also shows that Trip.com continues to accelerate its overseas business expansion. Since 2H19, the Chinese OTA giant has started increasing its presence in overseas markets to offset the unsatisfying performance of inbound tourism operations in mainland China. On October 30, the company replaced its original group name Ctrip with Trip.com to increase recognition by global users. Meanwhile, the company continued to acquire overseas assets to enhance its international business. For example, the company has purchased the British price-comparison search engine Skyscanner and the US travel booking platform Trip.com. Furthermore, in November 2019, the enterprise inked several agreements with TripAdvisor [TRIP:US] to diversify its portfolio for Chinese clients and increase foreign-friendly services for overseas tourists to Mainland China. In October last year, the CEO Sun Jie said that Trip.com expected to made the annual revenue from overseas business reach 40% to 50% of the total value in the next four to five years.