Booking Holdings, the world's largest OTA, reported $43.4 billion in total bookings for Q3 2024 with Q3 revenue of $8 billion. Full-year metrics show Q2 revenue of $5.859 billion (+7%) and net income of $1.521 billion (+18%). Despite its global dominance, Booking Holdings has virtually no market share in China due to the dominance of domestic platforms. Ctrip (携程), China's largest OTA, reported 533 billion yuan in 2024 net revenue (+20%) and projects 2025 revenue exceeding 60 billion yuan, with accommodation booking as its largest segment. Meituan Travel (美团旅行) has emerged as a formidable competitor with 822.5 billion yuan in Q2 2024 overall revenue (+21%), 753 million annual transacting users, 13 million active merchants, and Q3 hotel/travel orders surging 50%+ year-over-year. Meituan's hotel booking market share reached 48.7% in 2019 (surpassing Ctrip's 26.9%), though Ctrip leads in revenue due to a higher-end focus. China's OTA market is a two-horse race between Ctrip and Meituan, with Fliggy (阿里巴巴) serving as a secondary player.
Chinese Booking Platforms Compared with Booking.com
| Feature | Booking.com | Ctrip/Trip.com (携程) | Fliggy (飞猪) | Meituan Travel |
|---|---|---|---|---|
| Founded | 1996 (Amsterdam) | 1999 (Shanghai) | 2014 (Alibaba) | Part of Meituan |
| 2024 Revenue | $22.7B (global) | ¥53.8B (~$7.4B) | Alibaba subsidiary | Part of Meituan's ¥278B |
| Listed Properties | 285M+ (228 countries) | 1.4M+ hotels globally | Extensive hotel network | Largest domestic network |
| Outbound Market Share | Minimal in China | 48.3% of China outbound | Strong growth | Limited |
| Domestic Hotels | Limited China coverage | Comprehensive | Comprehensive | #1 for domestic stays |
| Flight Booking | ✅ | ✅ #1 in China | ✅ | ✅ Growing |
| Train Tickets | ❌ | ✅ 12306 partnership | ✅ | Limited |
| Payment Methods | Credit card | WeChat Pay, Alipay | Alipay, Huabei | Meituan Pay |
| Customer Service | Online/phone | 24/7 + offline stores | Online | Online |
| Available in China | Limited presence | ✅ #1 | ✅ | ✅ |
Detailed Breakdown
Ctrip/Trip.com (携程) — China's #1 Booking Platform
Ctrip (携程), China's largest online travel agency, reported 533 billion yuan in 2024 net revenue (+20% YoY) and projects 2025 revenue exceeding 60 billion yuan. Ctrip leads China's travel market with dominance in accommodation booking (216 billion yuan, +25%), transportation ticketing (203 billion yuan, +10%), and packaged tours (43 billion yuan, +38%). Ctrip also owns Trip.com (international), Qunar (budget travel), and Skyscanner (global meta-search), making it one of the world's largest travel companies by transaction volume. Unlike Booking.com, which primarily offers hotel reservations, Ctrip provides a comprehensive travel ecosystem including hotels, flights, trains, attractions, tours, and travel insurance. Ctrip's strength lies in its premium market positioning, extensive supplier network, and 24/7 customer service — features that Chinese travelers value highly for both domestic and international travel.
Key strength: 533 billion yuan revenue with 2025 projected to exceed 60 billion — China's premium OTA leader. Key differentiator: Comprehensive travel ecosystem (hotels + flights + trains + tours) vs. Booking's hotel-centric model.
Meituan Travel (美团旅行) — China's Local Services Giant
Meituan Travel (美团旅行) is a powerhouse within China's largest local services platform. Meituan's Q2 2024 overall revenue reached 822.5 billion yuan (+21% YoY) with 753 million annual transacting users and 13 million active merchants. In Q3 2024, Meituan's hotel and travel orders surged 50%+ year-over-year with hotel/travel revenue reaching 6.5 billion yuan. Meituan's hotel booking market share reached an impressive 48.7% in 2019, surpassing Ctrip's 26.9%, though Ctrip leads in revenue due to its higher-end hotel focus. What makes Meituan unique is its local services ecosystem — users discover and book hotels and travel experiences alongside food delivery, movie tickets, and other local services. This "super-app" model gives Meituan unparalleled user engagement and cross-selling capabilities. For budget-conscious travelers and domestic tourism, Meituan is often the first choice due to its competitive pricing, user reviews, and seamless integration with food and entertainment booking.
Key strength: 753M users with 50%+ hotel booking growth — China's local services super-app with dominant market reach. Key differentiator: Super-app ecosystem (food + hotels + entertainment) vs. Booking's standalone travel model.
Meituan Travel — China's Domestic Hotel Leader
Meituan Travel, the travel arm of China's super-app Meituan, has become the leading platform for domestic hotel bookings in China. While Ctrip dominates outbound and business travel, Meituan leads in domestic leisure bookings, particularly for budget and mid-range hotels, homestays, and local experiences. Meituan's advantage lies in its massive user base — the Meituan app serves over 600 million MAU — and its integration with food delivery, restaurant reviews (Dianping), and local services. Users can book a hotel, find nearby restaurants, order food delivery, and discover local attractions all within a single app. This "one-stop" experience has made Meituan the preferred choice for domestic Chinese travelers who value convenience and comprehensive local information.
Key strength: Largest domestic user base through Meituan's super-app model. Key differentiator: Seamless integration with food delivery, local reviews, and entertainment in a single platform.
Why Booking.com Struggles in China
Booking.com faces fundamental challenges in the Chinese market that domestic platforms have solved. Chinese travelers primarily use WeChat Pay and Alipay for payments — Booking.com's credit-card-focused payment system creates friction. Chinese travelers value 24/7 customer service with Chinese language support and physical stores for complex bookings — Ctrip operates thousands of offline service points. Train travel is a critical component of Chinese domestic travel, and Ctrip's official 12306 partnership provides seamless rail booking that Booking.com cannot offer. The Chinese travel market also has unique characteristics: package tours remain popular, group travel booking is common for holidays, and domestic hotel chains often offer better rates through local platforms. Booking.com's commission model (typically 15-25%) is also less competitive than Chinese platforms' rates. These structural differences explain why Booking.com's China market share remains minimal despite its global dominance.
Frequently Asked Questions
Booking.com has limited presence in China but minimal market share. Most Chinese travelers use Ctrip, Fliggy, or Meituan for hotel and travel bookings.
Ctrip (携程/Trip.com) is the closest equivalent — it offers hotels, flights, trains, tours, and car rentals with 48.3% outbound market share.
Ctrip leads for outbound and business travel. Meituan Travel leads for domestic leisure stays. Fliggy is strongest for vacation packages and Alibaba ecosystem users.
Yes, Ctrip's international brand Trip.com serves global travelers with English-language support. It is particularly useful for booking China-bound travel.
Chinese platforms support WeChat Pay, Alipay, and bank cards. Fliggy also offers Huabei installment payments for travel bookings.
Yes, Ctrip has an official partnership with 12306 (China's national rail system) for train ticket booking, a feature Booking.com cannot offer.
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