Chinese online travel service provider Ctrip (Nasdaq: CTRP) recently announced its strategic acquisition of Trip TM, a four-year-old Chinese luxury travel service provider. Going forward, Ctrip and Trip TM will jointly operate Ctrip's high-end tourism brand, "HHtravel."

Ctrip will become Trip TM's majority shareholder, though neither of the two parties has disclosed specific number of shares involved in the investment. Upon completion of the merger, Ctrip will preserve both Trip TM and HHtravel brand names, providing high-end tourism products under each.

Trip TM was jointly established by 19 prominent Chinese entrepreneurs, including Ma Yu, Shi Yuzhu, and Neil Shen.

Source:marbridgeconsulting