Ctrip.com,the Shanghai based travel company, saw its profits rise 48% in the second quarter and it’s on the lookout for additional acquisitions.
The company, which in the last year acquired ezTravel in Taiwan and Wing On Travel of Hong Kong, says it would be open to more acquisitons.
“We are always open to any good opportunities in terms of the acquisition and mergers,” Ctrip President and CEO Min Fan said during a conference call with financial analysts about second quarter results. “But we take very prudent steps to evaluate them. Regarding M&A opportunities we always focus on whether the target company is a travel related business. Whether the company can bring Ctrip a new business line or penetrate into a new geographical area. Whether the company has the right valuation and also whether the target company is a major player in the segment.”