Trip.com and Tripadvisor are expanding their partnership to include Tripadvisor Plus. Initially, Trip.com will provide access to preferential pricing on at least 10,000 properties to benefit the Tripadvisor Plus offering, Tripadvisor’s new, direct-to-consumer subscription service.
“Tripadvisor remains a great partner for Trip.com,” said Jane Sun, CEO of Trip.com Group. “We are very excited about continuing this strategic partnership, which will undoubtedly further enhance the travel experience for our customers worldwide.”
In addition, Trip.com has been approved to sell a portion of its Tripadvisor holdings consisting of approximately 6.95 million shares, to meet its Corporate needs. Sales are expected to occur in multiple tranches throughout 2021.
Trip.com, which also owns Ctrip, Skyscanner, and Qunar, has relinquished its contractual right to nominate a director to the Tripadvisor board of directors, which position has been held by Trip.com Group CEO, Jane Sun. However, Sun will continue to serve on the board, subject to the typical shareholder voting process.
“We continue to value our strategic partnership with Trip.com, inclusive of our joint venture in China, and appreciate Jane’s ongoing contributions to our Board,” said Stephen Kaufer, president and chief executive officer, Tripadvisor. “We are pleased to deepen our relationship through Tripadvisor Plus. We are excited about the initial launch, and we look forward to expanding Trip.com’s presence on our platform over time.”
This post was published on 2 June 2021 12:49 am