China’s largest online travel company, Ctrip, posted net revenue gains of 39% in 2017 to $4.1 billion.
In its full year 2017 financial report, the company says it expects net revenue growth to continue at a rate of 9% to 11% for the first quarter of 2018.
Jane Sun, CEO of Ctrip, says the company, despite becoming the largest online travel service provider in China, is "only at the beginning of our journey".
She has promised to make "significant investments" in technology and has large ambitions to grow internationally.
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Non-domestic revenue now accounts for 20% of the overall pie.
The Shanghai-based company operates Ctrip as well as Trip.com, a domain it purchased in November 2017 and relaunched as an English-language online travel site targeting consumers in Asia Pacific.
It has also run metasearch engine Skyscanner since November 2016.
2017 as a financial base for the future
Much of the revenue gains can be attributed to an increase in transportation ticketing revenue, which jumped 38% to $1.9 billion and represented 45% of total revenue, the company says.
Accommodation revenue was also strong. The 2017 figure of $1.5 billion represented a 30% increase over 2016. Accommodation revenue accounted for 35% of total 2017 revenue.
Ctrip’s packaged tour sector saw a similar increase in 2017 – 29%. With revenue of $457 million it accounted for 11% of the company’s total revenue.
Ctrip's subsidiaries also turned in strong results. Skyscanner's direct booking revenue for the fourth quarter of 2017 nearly doubled compared to the same period of 2016, and Trip.com achieved triple-digit growth in air ticketing volume for five consecutive quarters (pre-ownership by Ctrip in November last), benefiting from Skyscanner's direct booking initiatives.
"We had strong results in the fourth quarter, even as we transitioned through short-term challenges in certain areas of our business," says Sun.
Speaking later during a call with analysts, she says: "2017 was also a year of learning. We feel grateful for all the voices we've heard from our customers and the media that reminded us that an industry leader will bear more responsibility if they need to continue improving.
"There have been and will continue to be challenges along the way, but we will always endeavor to maximize Ctrip's social impacts while increasing the company's commercial value.
"Guided by the fundamental principles of consistency, transparency and equality, we'll keep improving our product and services as we strive towards our ideals."
* Check this interview with Ctrip's chief financial officer, Cindy Wang, from the Phocuswright Conference 2017:
Ctrip at the Phocuswright Conference 2017