Watch out! Online travel is being shuffled in a "snake-gluttonous" mode

Comics: Zhang Jianhui with Threading's enemy.　　Opponents rely on the "annexation of the same" model of gluttonous snake.　　Headquartered in Guangzhou, easy Netcom Travel (50.7% of the share of the broad travel company announced recently, the wholly-owned acquisition of the headquarters in Beijing, travel and easy air travel network, the establishment of "easy Netcom travel" New companies, the annual total revenue of 1.75 billion yuan, more than online travel eldest brother Ctrip 1.6 billion annual income. Can an ant Xiong beat an elephant? "From the third party research data, Ctrip in the line tourism market occupies a leading position, occupy more than 80% of the market share is further expansion."　　Ctrip CEO Mr. Fan answer calmly. Watch out! Online travel companies are starting a new round of shuffling. Subdivide to the ticket reservation this kind of characteristic market, the capital still is in frequent strike. such as the successful operation of Tongzhou Electronics, Weichai power known as the local VC company Shenzhen Innovation Investment Group, the most recent injection of the object selected Teng Bang State ticketing.　　Its "ambition" also is to encroach on the market share of Ctrip ... Naoyi net 31 million Yuan "afford transfer" "we (and Xunchangqing) only chatted for 15 minutes, has finalized the cooperation."　　"Easy Netcom CEO Wu Zhihui said, in addition to the geographical layout of Beijing, the advantage of the network in the electronic transaction ratio is also easy netcom merger and acquisition of the main reason." The two sides clicked, the outcome of the negotiations is: the form of stock exchange to complete the acquisition, but the network must bring all the management top. According to the insider revealed that this round of mergers and acquisitions has an important background, that is, the operating performance of the network has slipped, eager to hand the right to turn gloves now.　　Previously, the network also advised the E-Dragon to take ownership, but e-dragon also unbearable cost burden. In the end, easy netcom new issue 2.6 million shares to the management team of the network, another payment of 5 million cash to solve the travel network debt problem, the total acquisition involved in the amount of about 31 million yuan.　　According to two companies 2008 consolidated revenue Performance statistics, the total revenue of 1.75 billion yuan has exceeded the annual revenue of 1.6 billion ctrip. Kuoni or for the behind-the-scenes capital pushing hands is learned that the merger behind the scenes of capital pushing or for Europe's largest tourism companies ——— Kuoni Group.　　Not long ago, Kuoni to the price of about 58 million yuan, the acquisition of 31.8% of Easy Netcom's shares, Yi Netcom became the first single shareholder, and easily netcom a board seat.　　In Ping an Securities analyst Att (alias), easy to introduce K-Uoni, mainly based on two major considerations: the first is the K Uoni has a tourism industry resources integration experience; In addition, K Uoni to join to clear NetEase in London motherboard continue to raise funds when investors doubt. In fact, Easy Netcom and Naoyi merger and acquisition integration, is only the beginning of easy netcom.　　As early as the 2007 IPO, Easy Netcom CEO Wu Zhihui plans to expand the blueprint ——— will raise nearly 200 million yuan, most of the acquisition of domestic 4 leading tourism enterprises, while in the domestic 40 key cities cloth points. For the moment, "the economic crisis has affected the whole society and all kinds of enterprisesDevelopment planning, but also formed an unprecedented opportunity, as long as each other appropriate and negotiate smoothly, easy Netcom does not reject any industry mergers and acquisitions opportunities, relevant news will be released in time.　　"Easy Netcom Market director said." Easy Netcom to raise money to "burn" The logic lies in, "according to the development of e-commerce characteristics, or choose to do the industry boss, or to take the characteristics of the market or eat up the regional market." Easy Netcom Tour has already had Ctrip and E Dragon two giants, easy Netcom travel is not the only product or business model of the uniqueness, also do not have a stronger profitability, want to rewrite the competitive landscape, only from the scale effect on the breakthrough.　　Ping An securities analyst said. Ctrip with 1.3 billion of dollars cautious with easy to use Netcom's exerting force does not cause Ctrip CEO Mr. Fan Special Care, "I think in the past year, Ctrip and the gap between the rival also widened further." According to IRIS Statistics, the current domestic online tourism operators, Ctrip to more than 50% of the share of almost occupy a monopoly position, the second art dragon accounted for about 15% of the share of the rest by the distribution of a number of enterprises in different cities divided.　　Ctrip's 2008-year results show that its full-year revenue is 1.6 billion, gross margin is 1.16 billion, and the annual revenue of the Arts Dragon is 350 million, margin 210 million; According to the 2008 merger of Naoyi, its annual sales 3.1 billion, revenue 1.75 billion, gross margin 190 million.　　Good performance of Ctrip will not take the risk of "burning money", it takes a "without being destroyed, do not change it" method, hoping to continue its excellent performance. "We have 1.3 billion dollars of cash on hand, and we will use it with great care," said Sun Jie, chief financial officer of Ctrip. The bulk of the cost of Ctrip is related to human costs, so we have frozen new hires, and then human-related spending will be controlled, such as wages, benefits, vacations and so on. Second, companies are conducting a rigorous review of all discretionary spending. "According to the introduction, Ctrip's future spending budget mainly lies in" Nantong call center in the next few years to spend 20 million of dollars each year, if there is a good acquisition target, we will be very cautious attention. "It's a hunch that, with Cheng, it's clear that the benefits of the strategy are positively correlated with the risks, and the connection between the two is one-way." High returns mean high risk, but not necessarily.　　In other words, high risk means that the enterprise has a greater probability of total success, but it also means that the probability of total failure is greater.　　Regardless of the cost, online tourism mergers and acquisitions in spite of this, step on the online tourism market, small profit of many enterprises or at any cost to finance, in order to achieve strategic expansion, quite a "flame" of the tragic taste. A bacus data shows that online travel bookings in the Asia-Pacific region are on the rise, with an estimated annual growth rate of online bookings in the next 4 years (C A G R) expected to reach 11%, and that the Internet is no longer seen as a new channel, but aA major way. According to Jupiter R Esearch's research data: The U.S. online travel market in 2005 with 62 billion U.S. dollars, accounting for 26% of the overall U.S. travel market, to 2009 years, the online travel market will reach 91 billion U.S. dollars, accounting for the overall travel market of 33%, that is, the United States tourism services about 1/　　3 will be on the web, and in China, this number is single-digit. At this critical juncture, the Mango network under the travel of Hong Kong has acquired the easy-run travel network specializing in economic hotel business in Shanghai; Thousands of oak group in the Nasdaq buy e Dragon Stock, the industry speculated that it will be in this way to achieve the acquisition of E-Dragon merger, Yi Long Network also replaced the CFO, blunt main purpose is to carry out the acquisition.　　Even in the air ticket business market segment of the Teng Bang ticketing, also introduced in February this year, Shenzhen Innovation Investment Group Capital injection.　　Risks and benefits, how to weigh? "The balance is between survival and wealth," Michael Reine, a consultancy at Deloitte Consulting, said in the paradox of strategy. It is generally believed that the cash flow is more stable and the risk is lower. In fact, as long as the income tends to balance, the financial market on a certain period of time to ignore the income graph. "The reporter observes Ctrip" The Elephant Generation history "after now must move the brain technology to upgrade the various indications, China's online tourism enterprises gradually began a new round of shuffle. Can an ant Xiong beat an elephant?　　Where are the opportunities for the future? Online business is not enough "electronic" future based on the present, the past. Review Ctrip "elephant Generation History", Ctrip started from the hotel business, but began in 2003, exerting air ticket business, just in time to catch up with E-commerce from 2004 ~2007 up 5 times times the growth of the industry development of high-speed vehicles.　　When its rival e-dragon because of management team operation Tacit understanding, repeatedly hesitate agent ticket business can bring real income, missed profit opportunity. And Ctrip took the opportunity to develop the call center as a competitive foundation ——— more than 70% of the business booking from the call center. Call center strong establishment, operation, management, service quality supervision, such as a set of comprehensive capacity development, is based on Chinese consumers do not form a large amount of internet consumption habits. Hotel booking by telephone booking, the front desk to pay the main; Even today, online travel booking is not really e-commerce.　　It is not difficult to understand, Ctrip's current spending budget mainly in the Nantong Call center project.　　"Information setter" mode needs to be changed. According to the report, 2008 China online payment transactions increased by 181%, of which network shopping, air tickets became the 08 network payment application industry development highlights. "The digital convergence that connects the Internet, the telephone network, the wireless communication network and the television network will become a trend, and service products should be developed in this direction."　　BenQ Chairman Li Yanyao thinks. In this way, Ctrip as a "information setter" The good days of profit should be vigilant, the huge call center may be inToday is a weapon of competition, and tomorrow is a cumbersome package for development. Backward such as easy to pass the net, openly "forced Palace" Ctrip is in this: "Ctrip is now understandable industry boss, but it may not represent the direction of the future, we believe that only the provision of electronic travel services to consumers in order to win the market."　　"Easy Netcom Market director said." In fact, when Taobao defeated ebay's winning weapon is: Technology! Technology！ or technology! Ctrip model is good, is it also the upgrade? Xiaoxin