| When “Internet +” meets traditional traveling, it gives “Online Traveling”. Online traveling began itself with some simple services, i.e. air ticket ordering and hotel booking. The industry is now becoming strong enough to meet almost all needs from travelers. With its new business structure and service model, online traveling is providing more wonderful experience to the customers. It has becoming an essential part in the industry chain, and is subverting this chain. Online traveling promotes the traveling industries’ booming with people’s irresistible traveling desire. Last 10 years has witnessed a high speed growing in the traveling industry and also a mount of M&As.In this paper, the traveling industry chain is summarized, and also the needs of online traveling corporates’ M&As, including horizontal M&As, vertical M&As and mixed M&As. M&As from 2007 to 2013 between online traveling agencies are under study to find out if synergistic effect will exist. To make a distinction between online traveling industry and others, the ability of customer acquisition is taken into account in the process of M&A performance evaluation.It comes the result that M&As between online travel agencies is proved to be have synergistic effect, but it will come not the same year as the M&A, but later in next 2 years. And some suggestions are gave to corporates. |
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