Related Ctrip Announces Agreement to Acquire Skysc

first_img RelatedCtrip Announces Agreement to Acquire SkyscannerWe’re delighted to announce that leading Chinese online travel agent Ctrip is to acquire Skyscanner. International, Ltd. is a leading travel service provider of accommodation reservations, transportation ticketing, packaged tours and corporate travel management in China. Today they’ve signed a definitive agreement with the majority shareholders of Skyscanner Holdings…The next step in Skyscanner’s journey: our acquisition by Ctrip is completeToday marks the day that we move from a private VC-funded company to one that is the strategic partner of Ctrip, one of the most successful online travel companies in the world. This is a milestone, but like real milestones, it is at the side of the road and is…Skyscanner’s Colin McLellan and Stuart Middleton promoted to CFO and CCO respectivelySkyscanner’s Finance Director, Colin McLellan, and Commercial Director, Stuart Middleton, have been promoted to the roles of Chief Financial Officer and Chief Commercial Officer respectively. Colin McLellan has lead Skyscanner’s finance team since previous CFO Shane Corstorphine took on the role of General Manager, Americas, in 2016. Colin joined Skyscanner… 2017 is set to be another fast-paced year for Skyscanner and, together with Ctrip, we’re excited to continue in our quest in making travel search as simple as possible for travelers across the globe. As part of a listed company (Ctrip is listed on NASDAQ), we’ll no longer be reporting our financial results annually as we did previously. Ctrip acquired Skyscanner in December, a partnership we’re thrilled about – it will allow us to share best practice while remaining operationally independent and continue our accelerated global growth across the globe (for more information, check out our blogs here and here). The Ctrip group has seen a solid set of results in the fourth quarter of 2016, including healthy group revenue growth and significant margin expansions. Full Ctrip Q4 2016 results can be found on their Investor Relations site. Key results from the Ctrip group included solid revenue growth in 2016 for Skyscanner, accounting for mid-to-high single digit Ctrip group revenues on a pro-forma basis. Ctrip expect to see similar strong revenue for Skyscanner in 2017. Skyscanner’s adjusted EBITDA margins were maintained at around 20% in 2016. last_img read more