Tag Archives: Ctrip

Amidst the ongoing tensions between China and India, Travstarz has initiated talks with Rezb2b, a CTRIP Subsidiary which holds a minority stake in Travstarz to buy back 100 per cent of its shares. Pankaj Nagpal, Managing Director, Travstarz Global Group shared this update and said, “Travstarz shall soon be a 100% Indian Company once again and all shares will be held by us and my son, Raghuv Nagpal, too shall be joining the Board post the transaction which will be finalized soon.”

India Travel Award winners Pankaj Nagpal and Sucheta Nagpal, the founders of Travstarz, have announced that Tours4fun, a booking portal for global tours and activities and subsidiary of CTRIP, has ventured into India by acquiring a stake in Travstarz Global Group. The company will continue to be led by them as the Managing Director and Director & CEO respectively. Tours4fun has ventured into global travel B2B business with the launch of RezB2B Global Limited and its platform Rezb2b.com. The details of the deal were not disclosed by both parties. Post the investment, Travstarz Global Group will merge its platform Travelrezonline.com with Rezb2b.com and will dedicatedly run the group’s B2B business in Indian Sub-Continent and other adjoining regions. “With this alliance, we will expand much faster and will get access to latest technology, wide range of products and global markets. We shall be merging our online platform travelrezonline.com into Rezb2b.com and all further developments will be jointly done by our India and Global IT Teams to offer an advanced and robust online B2B system with best worldwide inventory of flights, hotels, packages, transfers and sight seeing, visas, travel insurance and forex. It will provide complete IT Solutions for travel agents, DMCs and hoteliers to seamlessly manage their own content online and provide them a platform to sell their own products to a worldwide audience through us. It is a technology driven product and will change the way travel businesses run across the globe. We will be rapidly expanding our DMC operations under the Travstarz Global DMC Network Program also,” said Pankaj Nagpal, MD, Travstarz Global Group and Sucheta Nagpal, Director & CEO. Established in 2009, Travstarz Global Group started with selling Hong …

China’s Ctrip, the second largest online travel agency in the world after Priceline has set its eyes on the U.S. market with its acquisition of three U.S. based tour operators in a bid to boost business and improve service levels for Chinese outbound travellers vacationing in the U.S., said Tao Yang, a Ctrip senior vice president and head of its vacation business. The tour operators — Universal Vision, Ctour and Tours for Fun — stated they would also benefit from access to Ctrip’s customer base and technology. Ctrip took a majority stake in each of these tour operators for what the online travel agency describes as a marriage to form a Quartet focusing on Chinese travellers touring and visiting attractions in the U.S. But that partnership is distinct from Ctrip’s strategic plan to create a U.S. point of sale to sell travel globally, and this would put Ctrip in competition in the U.S. with partners such as the Priceline Group and Expedia, Yang said. He also said the relationships with Expedia and the Priceline Group would include elements of both partnership and competition, as is common in the travel industry.