Alibaba Group, the largest Internet Company in China by market value, sets eye on online travel with new platform.
Headquartered in the eastern city of Hangzhou, Alibaba operates China's most popular online shopping platform, Taobao, which is estimated to hold more than 90 percent of the online market for consumer-to-consumer transactions.
The new platform, which has been renamed from Taobao Travel to Alitrip, will have its own website address separate from Taobao.
Alitrip's core strategy will focus on mobile devices to provide holiday tourism products. By launching the website, the Internet giant shows its ambition to increase its presence in the online tourism market.
Alitrip will provide innovation services, such as refunding air tickets in hours rather than weeks and paying for hotel rooms after staying.
Alitrip currently has more than 10,000 merchants offering services ranging from hotel bookings to visa applications.
China's online travel market jumped 20 percent year-on-year in the third quarter to reach 72.6 billion yuan ($11.9 billion) in transaction value, data from consulting firm iResearch showed.
Source: AFP, China Daily