Ctrip’s international businesses sustained robust growth momentum. In the fourth quarter of 2018, revenue generated from international business made up around 1/3 of group revenue.
With a 42% share of total revenues in 2018, transportation revenues remains the largest segment, although it has decreased from 45% in 2017. The Accommodations and Packaged Tours segments have gained share vs 2017, and now account for 37% and 12% of total revenue respectively.
Ctrip, Revenue by Segment. Ctrip growth rates are based on local currency in order to remove currency rate impact. Source: Ctrip 2018 financial results
Ctrip saw a 16% increase in net revenue in 2018. Transportation, Ctrip’s largest product segment, had the lowest year-on-year growth rate with just 6%. Accommodations, Packaged Tours and Corporate travel saw year on year growth rates of 21%, 27% and 30%.