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China’s Ctrip.com has tapped Pegasus Solutions for its market-leading Global Commission Processing. The world’s third largest online travel agency (OTA), which is also the largest OTA in the ASPAC market, will utilize the preferred financial service to consolidate commission payments from Pegasus’ member hotels globally.
Ctrip’s hotel reservation network includes more than 40,000 hotels worldwide, and is used by over 50 million registered users to book hotels each year. Promising more ease in the payout process, the agreement brings greater scale and connectivity to hotels doing business with Ctrip, according to Eva Huang, director overseas hotel partnerships for Ctrip.
“As one of the largest players in one of the largest markets in the world for outbound travel, hotels already have an incentive to do business with Ctrip,” said Huang. “In addition to giving them an audience of 50 million registered users, we can now alleviate any extra steps necessary by consolidating commission payments with Pegasus.”
Pegasus Global Commission Processing processes in excess of $500 million in commissions annually, serving more than 35,000 properties, as well as the majority of travel distributors in over 200 countries.
“By 2012, online travel bookings in China are expected to reach nearly $8 billion,” added Rachel Grier, vice president, business development ASPAC for Pegasus Solutions. “Hotels recognize this opportunity, but may face challenges of distribution and payment as remittance into RMB can be difficult. This agreement with Ctrip addresses both of these issues.”
Connie Rheams, senior vice president, global strategic sales for Pegasus Solutions also added, “Pegasus reported in the November 2011 The Pegasus View that recovery in Asia-Pacific is being driven by countries like China. Its powerful economy and travel industry continues to grow, and as it does, market leaders like Ctrip are adopting proven tools, like Global Commission Processing Services, to realize the most opportunities.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
