BELLEVUE, Wash., May 22, 2015 /PRNewswire/ -- Expedia, Inc.
(NASDAQ: EXPE) today announced that Expedia has sold its 62.4%
majority stake in eLong, Inc. (NASDAQ: LONG) to several purchasers
based in China, including
Ctrip.com International, Ltd. (NASDAQ: CTRP), Keystone Lodging
Holdings Limited, Plateno Group Limited and Luxuriant Holdings
Limited for a total purchase price of approximately $671 million.
In addition, Expedia and Ctrip have agreed to cooperate with
each other to allow their respective customers to benefit from
certain travel product offerings for specified geographic
markets.
The transaction closed on May 22,
2015.
About Expedia, Inc.
Expedia, Inc. (NASDAQ: EXPE) is one of the world's largest
travel companies, with an extensive brand portfolio that includes
leading online travel brands, such as:
- Expedia.com®, a leading full service online travel agency with
localized sites in 31 countries
- Hotels.com®, the hotel specialist with localized sites in more
than 60 countries
- Hotwire®, a leading discount travel site that offers opaque
deals in 12 countries throughout North
America, Europe and
Asia
- Travelocity®, a pioneer in online travel and a leading online
travel agency in the US and Canada
- Egencia®, a leading corporate travel management company
- Venere.com™, an online hotel reservation specialist in
Europe
- trivago®, a leading online hotel metasearch company with sites
in 51 countries
- Wotif Group, a leading operator of travel brands in the
Asia-Pacific region, including
Wotif.com®, lastminute.com.au®, travel.com.au, Asia Web Direct®,
LateStays.com and GoDo.com.au
- Expedia Local Expert®, a provider of online and in-market
concierge services, activities, experiences and ground
transportation in hundreds of destinations worldwide
- Classic Vacations®, a top luxury travel specialist
- Expedia® CruiseShipCenters®, a provider of exceptional value
and expert advice for travelers booking cruises and vacations
through its network of 180 franchise locations across North America
- CarRentals.com™, the premier car rental booking company on the
web
The company delivers consumers value in leisure and business
travel, drives incremental demand and direct bookings to
travel suppliers, and provides advertisers the opportunity to reach
a highly valuable audience of in-market consumers through Expedia®
Media Solutions. Expedia also powers bookings for some of the
world's leading airlines and hotels, top consumer brands, high
traffic websites, and thousands of active affiliates through
Expedia® Affiliate Network. For corporate and industry news and
views, visit us at www.expediainc.com or follow us on Twitter
@expediainc.
Trademarks and logos are the property of their respective
owners. © 2015 Expedia, Inc. All rights reserved.
CST: 2029030-50
Forward-looking Statements.
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the expected benefits of the
Expedia/Ctrip agreements. These statements are based on the
expectations of Expedia and Ctrip management as of the date hereof
and assumptions which are inherently subject to uncertainties,
risks and changes in circumstances that are difficult to predict.
Actual results and the timing and outcome of events may differ
materially from those expressed or implied in the forward-looking
statements for a variety of reasons, including, among others, the
ability of the parties to successfully implement the agreements, or
meet forecasts and other expectations, as well as other risks
detailed in Expedia, Inc. and Ctrip.com International, Ltd.'s
public filings with the Securities and Exchange Commission,
including Expedia, Inc.'s most recent Annual Report on Form 10-K
and Ctrip.com International, Ltd's most recent Annual report on
Form 20-F. Except as required by law, Expedia and Ctrip undertake
no obligation to update any forward-looking or other statements in
this release, whether as a result of new information, future events
or otherwise.
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SOURCE Expedia, Inc.