After entering 2016，Domestic tourism giants further merge with each other，Let this year be a transitional year for effective resource integration。In the outbound travel market segment，February 29，Uxin Travel announced a strategic restructuring intention with Huayuan 188bet Online Sports Betting and Casino，Planned to acquire 100% equity of Huayuan 188bet Online Sports Betting and Casino。After this reorganization，As the controlling shareholders of Huayuan 188bet Online Sports Betting and Casino, Shanghai Ctrip 188bet Online Sports Betting and Casino Co., Ltd. (hereinafter referred to as "Shanghai Ctrip") and CITIC Industrial Fund will also become important shareholders of Utrust Travel。

Same day，Shanghai Ctrip signed the "Uxin and Ctrip Strategic Cooperation Framework Agreement" with Uxin 188bet Online Sports Betting and Casino，This major asset restructuring is expected to be passed within the next year，Co-expanding with Zhongxin 188bet Online Sports Betting and Casino in the outbound 188bet Online Sports Betting and Casino market。The tourism market segment ushered in a wave of resource integration at the beginning of the year，The era of competition and cooperation has just begun。

188bet Online Sports Betting and Casino and Zhongxin industry chains are complementary

While Uoxin Travel publicly announced its intention to achieve strategic reorganization with Huayuan 188bet Online Sports Betting and Casino，Also issued an announcement disclosing the specific amount of the acquisition。Announcement display，Uxin Travel intends to acquire 100% equity of Huayuan 188bet Online Sports Betting and Casino，Transaction price 2.6 billion yuan。The latter’s operating income in 2014 and 2015 was 6 respectively.400 million yuan and 24.200 million yuan，The operating income in 2015 increased significantly compared with 2014。In terms of profit，Huayuan 188bet Online Sports Betting and Casino’s total profit in 2015 reached more than 59 million yuan。

Information from Zhongxin Tourism，After successfully shaking hands with Huayuan 188bet Online Sports Betting and Casino，Uxin Travel and Huayuan International Travel will implement product design、Upstream resource procurement and downstream customer resource sharing，At the same time, consolidate and expand the market share of outbound tourism business。

Data display，As the leading domestic outbound 188bet Online Sports Betting and Casino wholesaler，Huayuan International 188bet Online Sports Betting and Casino is traveling abroad，Especially in the outbound 188bet Online Sports Betting and Casino and business MICE 188bet Online Sports Betting and Casino business in Europe, it has strong competitive advantages。Its main business is outbound 188bet Online Sports Betting and Casino wholesale business、Business incentive business and agency service business，Outbound tourism wholesale is the main source of income。In the market，The company has formed a strong brand advantage and widespread recognition。

Previously，Huayuan 188bet Online Sports Betting and Casino is praised by peers as one of the “four major wholesalers of European tourism in China”，Owns market brand Yita Holidays and product brand Xianglong Miles，Especially in the "Italian-French-Swiss" route, the resource integration advantage is outstanding，And the "Italy, France, and Switzerland" route is the most demanded route by Chinese consumers in European travel。

Fangzhongxin 188bet Online Sports Betting and Casino is also a leader in the market after this restructuring。Currently，Uxin 188bet Online Sports Betting and Casino deploys vertical business system nationwide，Expand channel layout，And has established dozens of branch companies across the country and abroad、Dozens of retail stores。

Therefore，In the view of brokers，This cooperation between Huayuan International 188bet Online Sports Betting and Casino and Zhongxin 188bet Online Sports Betting and Casino is a "strong alliance"，Product line + upstream and downstream industry chain synergy is obvious。Both Uxin 188bet Online Sports Betting and Casino and Huayuan International 188bet Online Sports Betting and Casino have long been focusing on outbound 188bet Online Sports Betting and Casino wholesale business，This acquisition will help expand both parties’ outbound 188bet Online Sports Betting and Casino wholesale market shares，This will consolidate and strengthen their dominant positions in the European outbound tourism market。

Zhongxin and 188bet Online Sports Betting and Casino join hands to lay out O2O

It’s worth noting，Before this transaction，Shanghai Ctrip holds Huayuan 188bet Online Sports Betting and Casino 38.07% equity，After the 100% acquisition of Huayuan 188bet Online Sports Betting and Casino by UX Travel，Does not consider supporting financing factors，Shanghai Ctrip will hold Utrust Travel 5.72% shares。

November 2014，Shanghai Ctrip and CITIC Industrial Fund follow 7.Owner of Huayuan 188bet Online Sports Betting and Casino with an overall valuation of 200 million yuan，Now the latter’s overall valuation has risen to 2.6 billion yuan，In just over a year，The investment income exceeds 260%。Such a big difference in valuation in a short period of time，Zhongxin Travel also gave an explanation，Indicates that Huayuan 188bet Online Sports Betting and Casino has introduced many investors before，This greatly enhances the strength of Huayuan 188bet Online Sports Betting and Casino，Operating income、Net profit increased rapidly after non-deductions。Also，This acquisition plan also includes a performance bet on Huayuan 188bet Online Sports Betting and Casino。Commitment of both parties to the transaction，The net profit of Huayuan 188bet Online Sports Betting and Casino in 2016 is not less than 1.0.6 billion yuan，The cumulative net profit from 2016 to 2017 is not less than 2.4.6 billion yuan，The cumulative net profit from 2016 to 2018 is not less than 4.2.7 billion yuan。

It is reported，After Shanghai Ctrip strategically controls Huayuan 188bet Online Sports Betting and Casino，Increase support for Huayuan 188bet Online Sports Betting and Casino，This greatly enhances the financial strength of Huayuan 188bet Online Sports Betting and Casino，Optimization of business personnel structure，Product scale and service capabilities have increased rapidly，Through standardization of internal operation processes and the establishment of an online business department，Achieved rapid development in the construction of internal information systems and the expansion of online and offline channels。Data display，Huayuan 188bet Online Sports Betting and Casino’s operating income in 2014 was 6.4.5 billion yuan，And it has been increased to 24 in 2015.2.4 billion yuan，275 year-on-year increase.82%，Realized net profit of 37.5 million yuan，Performance is growing rapidly。

For this transaction，The industry is more concerned about how Ctrip and Zhongxin will cooperate。The "Agreement" signed by Shanghai Ctrip and Zhongxin 188bet Online Sports Betting and Casino is displayed，Both parties agreed to strengthen communication in subsequent M&A investment activities in the vacation and tourism sector、Exploring in-depth cooperation opportunities。and，Both parties will fully and in-depth cooperate in the vacation and tourism sector，Online and offline connection，"In data、Mutual support at the technical level，Achieve great development of vacation tourism business for both parties，Avoid unfair and vicious competition，Achieve healthy business development”。

“Both Zhongxin 188bet Online Sports Betting and Casino and Ctrip 188bet Online Sports Betting and Casino recognized the O2O strategy of outbound vacation tourism，On the premise of marriage，Willing to join forces，Complementary advantages，Gradually deepen product research and development、Resource Procurement、Distribution、Cooperation in all aspects including services，Rapid development，Achieve a win-win situation。"The person in charge of Zhongxin Tourism said。

To this，Some securities firms think，Zhongxin “joins hands” with Ctrip this time，Can effectively leverage Ctrip’s mature online platform、Experience，Perfect、Optimize online channels，Enrich outbound 188bet Online Sports Betting and Casino product lines，And based on Ctrip customer big data resources，Optimize the wholesaler and retail system。Also，Both parties can use their respective brand advantages and upstream and downstream resources to improve their bargaining power、Reduce operating costs。

What’s more important，In the future, if Shanghai Ctrip splits its vacation segment and raises independent financing，Uxin 188bet Online Sports Betting and Casino is also expected to become an important shareholder of its holiday segment that may be split off，The equity relationship between the two parties、In terms of business cooperation, a deeper strategic cooperation will be carried out。

Co-founder of Ctrip、Chairman and CEO Liang Jianzhang previously disclosed in the third quarter 2015 telephone financial conference call，Outbound 188bet Online Sports Betting and Casino accounts for more than 50% of Ctrip’s overall vacations。Also，There is data to prove，Less than 10% of the people in China currently have passports。This means，Once the potential is tapped，Increase in the number of people going abroad，will further benefit companies including Ctrip。

For this，Relevant person in charge of Ctrip revealed，The cooperation with Zhongxin is only part of Ctrip’s layout in tourist destinations。Future，Ctrip will continue to practice the pace of "internationalization"，Plan in major outbound 188bet Online Sports Betting and Casino countries favored by Chinese consumers。

The new battlefield of 188bet Online Sports Betting and Casino ignited by capital

Relying on capital as a link to obtain a better development foundation，Not just Zhongxin 188bet Online Sports Betting and Casino and Ctrip。HNA Tourism Investment Tuniu，Wanda Investment Tongcheng，Caesar 188bet Online Sports Betting and Casino backdoor listing，Tourism enterprises unite vertically and horizontally，Accelerating online and offline integration，Continuously reshaping the industry landscape，Blurring the boundaries of enterprise types。Strong alliances have become an important means for tourism companies to seize the leisure tourism market。Tourism Industry，Especially the outbound tourism industry is on the eve of major changes。

Relevant analysis points out，Ctrip will Yilong、After taking Qunar under his command，Online Hotel、The battle for the air ticket market has come to a temporary rest，The leisure 188bet Online Sports Betting and Casino market has become the next “must compete” for various 188bet Online Sports Betting and Casino companies。

“Although Tongcheng’s major shareholder is Wanda，Tuniu’s major shareholder is HNA 188bet Online Sports Betting and Casino，But except Ali 188bet Online Sports Betting and Casino and Donkey Mama，Ctrip is behind almost all major OTAs，Even Ctrip has penetrated offline。" Wei Changren, chief analyst of Jinlv Consulting, pointed out，Currently Ctrip has invested in eLong、Where to go、Tongcheng、Tuniu and Zhongxin 188bet Online Sports Betting and Casino，Behind the capital operation，Ctrip is playing a big game。

Wei Changren’s analysis，Ctrip can “eliminate rivals” by investing in these peers，The businesses of each company can also be linked，Ctrip’s investment in Zhongxin 188bet Online Sports Betting and Casino is to strengthen outbound tourism，Build the entire industry chain and O2O platform。

Ctrip Department、Hainan Airlines、Wanda series、Jinjiang Department、Alibaba、New American University (Dianping.com、The name after strategic cooperation with Meituan.com) and the national team that accelerates the reorganization and upgrading，All forces are racing to gain territory、Attack the city，Competition in the leisure 188bet Online Sports Betting and Casino market has escalated，The protagonists behind them are all big guys with assets of at least tens of billions or even hundreds of billions。In this context，Companies in the industry are advancing alone，Or a strong alliance，Make further use of the capital platform，Accelerate industry integration，Continuously becoming stronger and bigger，Improve industry status，It is a problem that must be faced。