Priceline is increasing its stake in Chinese OTA Ctrip with a USD250m investment.
The news comes just days after Expedia announced it was selling its 62% stake in another Chinese OTA, eLong, to Ctrip, the local market leader.
Confused? Don’t be. Priceline sees a future in China, Expedia doesn’t, and Ctrip is getting more powerful by the day.
Priceline made another USD500m investment in Ctrip last year and, if all goes to plan, will end up owning more than 10% of the company.