Ctrip Finance launches first financial product “YiQiZhuang”
July 18 2018 - 6:16AM
Ctrip, the largest online travel agent in Asia and the second
largest in the world, launched its first financial product
“YiQiZhuang” at the Ctrip Industrial Finance Forum in Shanghai.
Introduced with the theme of “Integration, Evolution and Without
Boundaries”, Ctrip’s “YiQiZhuang”aims to ease financial burdens
experienced by small to medium-sized hotels and marks Ctrip’s first
step into the Travel Supply China financing.
As the Chinese travel industry develops, many hotels are moving
from more convenient and budget accommodation model to offering a
more medium to high end hotel experience. For many small and
medium-sized hotel owners, this upgrade often requires to
additional financial pressures. Many hotel businesses also face
difficulties in finding adequate loans and waiting for loan
approvals.
The lack of mature financial products in the vast Chinese market
represents an important development opportunity for Ctrip and its
partnered financial institutions. Ctrip’s finance product
“YiQiZhuang” was launched to fill this gap in the market. With 19
years of experience in the travel industry and having served more
than a million domestic hotels, Ctrip has a deep understanding of
the industry’s specific financial risks, enabling it to serve the
industry better than any other peers.
According to the CEO of Ctrip Finance Janet Feng, “YiQiZhuang”
will offer two types of loans for hotels. The first type serves
customers wishing to upgrade, decorate or renovation their hotels.
This type of loan has an upper limit of 10 million RMB, with the
term of the loan lasting between 1 and 3 years. The second type of
loan is a smaller capital loan, of amounts up to 1 million RMB and
with loan term of up to 2 years. This type of loan is for upgrading
facilities, hotel expansion and partial renovation. Any qualified
hotel is able to directly apply for “YiQiZhuang” loan from
Ctrip.
Ctrip has signed cooperation agreements with various banks such
as Huaxia Bank and Beijing Zhongguancun Bank, ensuring sustained
capital and ensuring that small and medium-sized hotels have access
to convenient financial loans.
Jane Sun, CEO of Ctrip said, “Ctrip Finance is a platform which
serves the real economy. YiQiZhuang is the starting point for Ctrip
to explore the supply chain financing opportunity and offers an
important platform to help our hotel partners and grow alongside
these partners. In the future, we will continue to explore areas
and provide financial alternatives for the industry.”
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours and corporate travel management in China. It is
the largest online consolidator of accommodations and
transportation tickets in China in terms of transaction
volume. Ctrip enables business and leisure travelers to make
informed and cost-effective bookings by aggregating comprehensive
travel related information and offering its services through an
advanced transaction and service platform consisting of its mobile
apps, Internet websites and centralized, toll-free, 24-hour
customer service center. Ctrip also helps customers book vacation
packages and guided tours. In addition, through its corporate
travel management services, Ctrip helps corporate clients
effectively manage their travel requirements. Since its inception
in 1999, Ctrip has experienced substantial growth and become one of
the best-known travel brands in China.
For further information, please contact:
International PRCtrip.com International, ltd.Tel: (+86) 21 3406
4880 ext 196455Email: Pr@ctrip.com
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/696ba8ce-2f22-44cf-a70b-d846f31a7fc1
http://www.globenewswire.com/NewsRoom/AttachmentNg/e36ca2e7-8143-4fd9-8ffe-cfa85d0b6eef
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