近年来，在线旅游行业利润率持续下降，此前，在美国上市的OTA(在线旅行)、酒店等公司，比如艺龙、如家、汉庭等，在过去一段时间内大多遭遇了股价下滑，甚至有公司跌破发行价情况，美国机构投资者对中国消费类概念股已不再看好。

In recent years，Online travel industry profit margins continue to decline，after，In the United States the OTA listed(Online travel)、Hotel company，Such as art dragon、family-like、Han court, etc，In the past most within a period of time in share price falling，Even a company were below，The United States to China's institutional investors no longer consumer the concept is good。

携程市值缩水近半 行业整体利润率下降 Ctrip.com wiping out nearly half of the whole trade a decline in margins

　　携程回应称，公司正处于季末期，将发布二季度及半年度财报，不便对此事做出回应。业内人士分析称，携程被踢出纳斯达克—100指数并不代表业绩不好。但是，这其中仍可以看出，中国消费类概念股在美国股市已经不受追捧了。

Ctrip.com responded that，The company is in the end of the season，In the second quarter and will release semiannual earnings，Inconvenience immediate response。Analysis of the personage inside course says，Those who hold are kicked out of the nasdaq-100 index doesn't mean bad performance。but，This among them still can be seen，China's consumer market is not the concept in the United States more popular。

　　事实上，携程股价从今年3月初就开始持续走低，3月初报价28美元/股，5月、6月底分别收于18.4美元/股和16.76美元/股。截止至7月14日，收盘价为14.71美元，创出3年来新低，市值也缩水7成左右。

In fact，Those who hold this year from early march share prices began falling，Early march offer $28 per share，may、At the end of June were closed at $18.4 per share and $16.76 per share。Until July 14，The closing price of $14.71，Creating 3 year low，Market value also shrink or so。

　　据艾瑞数据显示，携程在中国在线旅行预订市场的份额已由2010年的51.6%下滑至2011年的41.1%。为提振业绩和股价，携程此前还宣布了高达5亿美元为期1年的促销，该金额是携程自成立以来的最大规模促销，是其往年年度营销费用的近10倍。

According to data showed that erin，Those who hold in China online travel bookings market share has fell from 51.6% in 2010 to 41.1% in 2011。For to boost performance and share prices，Those who hold the announced as high as $500 million for a year of sales promotion，The amount is electronic since was established the scale of the sales promotion，Last year the marketing expenses nearly 10 times as much。

　　业内人士认为，投入5亿美元相当于携程一年的营收，可见其竞争压力之大，另外，价格战还导致其传统的机票、酒店预订业务利润下滑，所以携程的利润增速减缓。近年来，在线旅游行业利润率持续下降，酒店团购和“价格战”等营销费用的投入加大，使得在线旅游企业的平均利润率也将进一步下降。

The personage inside course of study thinks，$500 million into equivalent to a year of ctrip.com income，We can see its competition of pressure，In addition，The price war led to its traditional ticket、Hotel booking business falling profits，So the ctrip.com profit growth slows down。In recent years，Online travel industry profit margins continue to decline，The hotel group buying and“Price war”Marketing expenses such as the commitment，Make online travel enterprise's average profit margin will also further down。

在线旅游市场价格战升级不断 专家指其“赔本赚吆喝” Online travel market price war upgrade constantly experts to show its“Shouting to make the red”

　　近期，国内在线旅游市场价格战不断升级。6月，携程高调推出“酒店团购直减10%”活动，随后，艺龙就推出“高星级酒店返还100 元起，三星酒店返50元，经济型酒店返30元”的促销。而一向低调的芒果网6月28日也宣布推出8000万元补贴计划，启动酒店狂欢节。

recent，Domestic online travel market price war escalated。June，Ctrip.com launched high-profile“The hotel group buying straight down to 10%”activities，then，Art and the dragon was launched“High star hotel returned 100 yuan up，Samsung hotel to 50 yuan，Economy hotel to 30 yuan”Sales promotion。And always low-key mango nets June 28 also announced the release of 80 million yuan subsidy program，Start hotel carnival。

　　7月5日，携程宣布开始全面启动“月月狂减，天天低价”活动，为期一年，并称此次活动得到了5亿美元(约合32亿元人民币)的预算授权。随后，同程网掷出9000万元挺进价格战。而在此前“去携大战”中的另一个主角去哪儿网也宣布投资3000万美元(约2亿元人民币)打造旅游智能化服务平台。

On July 5,，Ctrip.com announced in full swing“Month crazy minus，Everyday low price”activities，For a year，Saying this activity got $500 million($3.2 billion yuan RMB)Budget authorized。then，With cheng nets throws 90 million yuan into the price war。But previously“To join war”Another of the leading role where nets also announced investment of 30 million us dollars(About 200 million yuan RMB)Make tourism intelligence service platform。

　　艺龙将价格战推向高潮，其在促销广告中称，“携程团购没有的，我们有；携程团购有的，我们全部先打9折再减1元。艺龙优惠券酒店、机票通用了。京沪航线每张机票返50元。扬言要和艺龙打价格战的携程，请放马过来。让哥看看你也每张机票返给客户50元”。

Art dragon will price war to the climax，The promotion advertising said，“Those who hold the bulk not，We have；Electronic group buying some，We all first discount to minus 1 yuan。Art dragon coupons hotel、Ticket general the。The beijing-shanghai routes to $50 per ticket。Threatened to and art dragon of electronic price war，Please release your horse and come。Let elder brother see you return to customers per ticket 50 yuan”。

　　互联网分析师杨群认为，“价格战”是在线旅游行业难以挑起的“重任”，相对于传统领域的电商和3C领域的电商而言，在线旅游领域的上游行业存在着众多的壁垒，渠道环节并没有其他领域那样的通畅，也就局限了在线旅游行业在某种程度上对上游的议价能力并不是很突出。在这种情况下打价格战，在线旅游网站就是在做“赔本赚吆喝”。

The Internet analysts Yang qun think，“Price war”Online travel industry is difficult to start“burden”，Compared with the traditional areas of electrical contractor and 3 C areas of electricity for business，Online travel field upstream of the industry there exist a lot of barriers，Channel and no other field that link the unobstructed，Also limited the online travel industry in some extent to the upstream of the bargaining power and not very outstanding。In this case the price war，Online travel web site is doing“Shouting to make the red”。

　　互联网观察人士杨富华则认为，在线旅游行业缺乏打价格战的必要条件和基因。与综合类百货电商不同，在线旅游行业的旅游产品并非是消费者日常所必须的，也就缺乏了消费者的长期关注性。旅游行业的特殊性制约了价格战的有效形成。

The Internet is YangFuHua observers think，Online travel industry lack the necessary conditions of price war and gene。And the integrated department electrical contractor different，Online travel industry tourism product is not necessary to consumer daily，Also the lack of the consumer's long-term on sexual。The particularity of the tourism industry of restricted the price war effectively form。

行业洗牌取决于市场空间 多极化进程加速 Industry reshuffle depends on the market space multi-polarization accelerated process

　　在携程宣布以5亿美金投入到价格战后，其高层直言要进行新一轮的行业洗牌，携程以重金搏市场，其根本目的就是挽回其原有的市场份额。

Those who hold announced for $500 million in investment to the price after the war，Its top the truth to a new round of industry reshuffle，Those who hold on to cardiac market，Its basic objective is to recover its original market share。

　　业内人士分析称，以价格战来改变市场格局实际是行业病态发展的一个局部体现，携程能否做到行业洗牌取决于整个市场的空间，越来越多的细分市场和细分渠道涌现，是在线旅游行业多极化发展的重要表现。

Analysis of the personage inside course says，With the price war to change market pattern is the actual development of a morbid industry local reflect，Electronic industry reshuffle depends on whether you can do it the whole market space，More and more market segments and subdivision channel emerging，Online travel industry is significant to the development of multi-polarization performance。

　　据统计，国内提供预订服务的在线旅游网站已经多达数百个，从行业的发展趋势来看，未来五年在线旅游市场仍会有至少100亿的营收空间，而这将会被越来越多专注于服务、专注于满足个性化需求的企业分享。所谓的行业洗牌，不过是加速行业的发展，衍生出更多细分领域的行家和特色化的旅游企业。

According to the statistics，Domestic provide reservation service online travel web sites have up to hundreds of，From the development trend of the industry，The next five years online travel market there will still be at least 10 billion revenues of space，And this will be more and more focus on service、Focus on the needs of enterprises meet the individualized share。The so-called industry reshuffle，But is the development of the industry of acceleration，Derived from the field of more subdivision expert and the characteristic of the tourism enterprise。

　　北京交通大学旅游系主任、北京市旅游学会副会长张辉则认为，随着国内旅游市场的发展，散客的比重将越来越大，传统旅行社虽然在团队游和商务会展游方面发展得较为成熟，但还没有形成服务于散客的、较完善的经营模式，这是在线旅游网站的发展机会。

Beijing jiaotong university tourism department、The Beijing tourism society vice-chairman ZhangHuiZe think，Along with the development of domestic tourism market，The proportion of individual clients will become greater and greater，Although traditional travel agency in the team and the commercial exhibition tour aspects are more mature development，But has not formed in the service of the individual、Better business model，This is the online travel web site development opportunities。