The "Double Eleven" battle of online travel in 2015 no longer has the strong smell of gunpowder in previous years。Ctrip、188bet gamecom’s pre-holiday publicity campaign of constant “war of words” in previous years is gone forever。Under the new industry pattern，Future online travel upstream and downstream integration、Mergers and market segment competition will continue to be fierce。Industry insiders said in an interview with a reporter from the Economic Information Daily，The merger of 188bet gamecom and Ctrip will end the online travel industry early，Promote upstream and downstream integration in the industry、Huddle together for warmth。Internet companies whose main businesses are air tickets and hotels will be hardest hit。

188bet game becomes the “big parent” of OTAs

Imagination space for China’s tourism market，Recognition of 188bet gamecom’s business model，Making 188bet gamecom favored by the capital market at the beginning of its listing。However，The continuous money burning under Baidu’s wings seems to make the “giants” no longer patient。Baidu finally decided，Exchanged 45% of the total voting rights of 188bet gamecom for 25% of the total voting rights of Ctrip，Became the largest shareholder of Ctrip。Baidu spent 3 in 2011.USD 0.6 billion investment in 188bet gamecom，Became the largest institutional shareholder of 188bet gamecom。According to Baidu disclosure data，O2O transaction volume in the second quarter of 2015，188bet gamecom’s contribution accounted for 86%。

After transaction is completed，The board members of 188bet gamecom are，Baidu CEO Robin Li、Zhuang Chenchao、Liang Jianzhang、Ctrip COO Sun Jie、Vice President of Ctrip、Sun Maohua, CEO of Big Accommodation Division、Vice President of Ctrip、Xiong Xing, CEO of Air Ticket Division。The other three are investor representatives: Lin Renjun, founder of Jinshajiang Venture Capital Fund、Fu Jixun, partner of GGV Capital、Former NetEase CFO Li Tingbin，Both are independent directors of 188bet gamecom。And Ctrip’s board of directors list is Liang Jianzhang、Fan Min, Vice Chairman of Ctrip、Li Jipei, executive director of Lanxin Asia Investment Group、Gan Jianping, Managing Director of Qiming Venture Partners、Shen Nanpeng, founding and managing partner of Sequoia Capital China、Ji Qi, founder of Huazhu Hotel Group，Added Baidu Robin Li and Baidu Vice President and Head of Investment and M&A Department Ye Zhuodong。Of the 9-member board of directors of 188bet gamecom, Ctrip executives occupy 4 seats，No senior executive from 188bet gamecom has joined Ctrip’s board of directors。

188bet gamecom is expanding rapidly while burning money，Their own profitability becomes an urgent problem that needs to be solved。From the financial report data，188bet gamecom from the whole year of 2014，188bet gamecom lost a total of 18.500 million yuan，The loss exceeded the total revenue in 2014。From the third quarter of 2014 to the second quarter of 2015，Total money burned up to 27.600 million yuan。As of June 30, 2015，188bet gamecom’s net loss was RMB 8.15.7 billion yuan，Net loss in the same period last year was RMB 4.21.6 billion yuan，The net loss in the last quarter was RMB 7.01.2 billion yuan。Some comments pointed out，With 188bet gamecom burning money at such a rate，Its cash flow is not enough to sustain it for 3 years。In comparison，Cash-burning Ctrip lost US million in the fourth quarter of 2014，Loss of million in the first quarter of 2015，And by the second quarter of 2015, it returned to a profit of US million。

In fact，There are rumors，The first important negotiation between Baidu and Ctrip took place in May this year，The meeting between Ctrip CEO Liang Jianzhang and Baidu CEO Robin Li，Conducted negotiations on the merger of Ctrip and 188bet gamecom，And formulated a trading plan，And then informed 188bet gamecom CEO Zhuang Chenchao。This approach caused Zhuang Chenchao’s strong dissatisfaction，and subsequently declined the transaction，Resulting in merger miscarriage。Although Liang Jianzhang stated in an internal email，188bet gamecom will continue to operate as an independent listed company in the future，However，The market speculates that Zhuang Chenchao is likely to be out of the game in the future。

Pure channel companies 188bet game have a hard time surviving

Ctrip、After the merger of 188bet gamecom，Occupies a large share of air tickets and hotels，Other online travel websites，It is difficult to gain a share in these two areas。Chairman of Jingyu Group、Hong Qinghua, founder of Lvmama Travel Network, said: "After the merger of Ctrip and 188bet gamecom driven by capital，The impact on the industry varies，Hotels and air tickets have the greatest impact，Leisure tourism has little impact。Because the current business models of the two companies are becoming more and more similar，It will not create a monopoly as everyone fears，After merging, 1+1 must be less than 2。After merger，Pure channel companies will have a hard time surviving，There will be a lot of upstream and downstream integration、Merger。”

Goldman Sachs Group also pointed out in a timely manner in the recently released "China Online Travel Market Analysis Report"，It will be difficult for China to have a comprehensive solution travel agency and Ctrip、188bet gamecom、Ali travels side by side，The Big Three BAT and Priceline also invest in these three companies。More opportunities will be generated in more segmented tourism industries，For example, Tujia is in the field of non-standardized accommodation，The social tourism field where Mafengwo is located；There will be more Internet giants or comprehensive solution travel companies entering these detailed industries。

The 188bet game states,China’s 188bet game market size reached 4 in 2014.4 trillion yuan，63% of them are domestic 188bet game，8% is inbound 188bet game，23% travel overseas。Domestic 188bet game transactions always dominate，However, the high transportation costs and local expenses caused by long distances have caused the overseas 188bet game turnover to increase at the fastest speed。Overseas 188bet game is mostly packaged tour business，Online package travel is expected to continue growing to 26% in 2020。Therefore，Overseas travel agency，Especially group package tours，Will be the biggest beneficiary within 5 years；At the same time，It is expected that more overseas tourists will choose package tours，Relatively few domestic tours choose package arrangements。Ctrip and Tuniu occupy the overseas outsourcing 188bet game market，Accounting for 31 respectively.1% and 16.3%。

Intensified competition 188bet game industry

Online travel field，Whether it’s Ctrip、188bet gamecom、Tuniu、Tongcheng, etc.，Each company has formed its own advantageous business。Dai Bin, President of China Tourism Academy pointed out，Ctrip after merger and reorganization、Where to go，Will still face strong competition，And it is difficult to form a monopoly。First，The two companies remain independent operations，Competition still exists。Second，The concerns and emphasis of both parties will be different。What’s more important，From a bigger one、From the perspective of life experience in tourist destinations，The tourism market still has huge space，Including the merged Dianping and Meituan will also compete in this market。

"Double Eleven" is coming，Every store has also started a new round of big promotions。After the just announced merger with 188bet game，Ctrip released the “Double Eleven” preferential policy。Tuniu also launches 9th anniversary promotion，Launched special discount areas such as "Big 9 Discounts", "Limited Time Flash Sale", "9th Anniversary Selection", "Big Pre-sale Discounts"，Covering popular destinations around the world。Alibaba Travel also launched a large number of preferential visa products and preferential routes during the "Double Eleven" period。In fact，Except 188bet gamecom which keeps burning money，Many online travel companies are still continuing to lose money，Especially in the Chinese market，With the popularity of overseas travel，Many online travel companies are burning money to expand their market size。However，A Chinese online tourism survey report released by the Yale School of Management at the beginning of this year believes that，China’s small and medium-sized OTA players will have a difficult time in the “burning money and acquiring land” stage on major platforms，And it is predicted that after the market integration is stable, small and medium-sized enterprises will have nowhere to establish themselves。

In addition，Some traditional companies are trying to enter the online 188bet game market and many startups are providing local services based on tourist needs、Innovate in 188bet game services and information integration services。