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class="jiathis_button_qzone"></a> <a class="jiathis_button_tsina"></a> <a class="jiathis_button_tqq"></a> <a class="jiathis_button_weixin"></a> <a class="jiathis_button_renren"></a> <a class="jiathis jiathis_txt jtico jtico_jiathis" target="_blank"></a> </div> <script type="text/javascript" src="http://v3.jiathis.com/code_mini/jia.js?uid=1399539302485450" charset="utf-8"></script> </span><span id="i2i2jyu4k" class="fr">分享到：<img src="http://www.rmzxb.com.cn/images/fx.jpg" /> </span> </div> <div id="i2i2jyu4k" class="text_box"> <p align="center"> <p> 　　1500万美元入股途牛，2亿美元入股同程；分析称，在线旅游价格战力度将减弱</p> <p> 　　昨日，途牛向美国证券交易委员会(SEC)提交了IPO(首次公开招股)招股书增补文件。文件显示，携程将在途牛IPO完成时以发行价收购途牛价值1500万美元股份。此前一天，携程刚刚宣布2亿美元投资同程，成为其第二大股东。携程连续投资竞争对手，带来在线旅游（OTA）格局突变。</p> <p> 　<strong>　1500万美元与途牛“做朋友”</strong></p> <p> 　　昨日，途牛提交的IPO招股书增补文件显示，途牛将其IPO交易的计划最高筹资额从1.2亿美元缩减至1.012亿美元。IPO定价区间设定为每股美国存托股票9美元至11美元，每股美国存托股票代表3股A类普通股。</p> <p> 　　与此同时，文件还显示，携程已于4月27日与途牛达成协议，将在途牛IPO完成时以发行价收购途牛价值1500万美元(人民币9080万元)的股份。交易完成后，携程可以向途牛董事会指派一名董事。</p> <p> 　　根据业内估算，途牛上市后，总体市值在十多亿美元，携程投资的1500万美元，占比很小。分析人士认为，由竞争对手变“朋友”，其战略意义比财务收益更重要。</p> <p> 　　劲旅咨询总经理魏长仁对新京报记者表示，两家合作是在商言商，竞争不如合作。对于途牛而言，招股书再包装，也不是业内第一，携程是绕不开的劲敌。跟携程化敌为友，对途牛的投资人是利好，两家合作共同做大市场蛋糕。</p> <p> 　　昨日，途牛CEO于敦德和COO严海锋在内部邮件中称，在线休闲旅游市场空间巨大，携程这次的财务投资是看好途牛的发展。去年，整个休闲旅游市场规模近4000亿，其中在线休闲旅游市场规模只有300亿，行业渗透率只有7.7%，途牛和携程加起来也只占很小部分。同时，携程与途牛业务上存在明显差异，途牛主要是出境、跟团游，携程在自助游领域规模更大。</p> <p> 　<strong>　在线旅游携程或一家独大</strong></p> <p> 　　就在途牛与携程宣布“做朋友”的前一天晚上，携程刚刚宣布以2亿美元投资曾经的主要竞争对手同程，成为仅次于同程管理层团队的第二大股东。</p> <p> 　　同程创始人吴志祥在28日发布的一封内部邮件中说，携程将把景点门票的现付业务接入同程，同程将在两年内重启IPO，携程也会支持同程独立IPO。吴志祥称此次投资为“公司十年创业历程中具有战略意义的一步”。</p> <p> 　　对于携程连续的投资动作，艾瑞分析师王亭亭认为，携程可以通过投资来拓展更广阔的疆域，保证自己在各业务上绝对领先的优势。同程在休闲游、门票上领先，途牛在跟团游上的领先，都是携程投资的驱动力。如果携程自己重新开发，需要花费很大代价，包括人力、物力的大量投入，不如直接投资合适。</p> <p> 　　魏长仁也表示，携程通过投资，对手变朋友，就无需继续价格战来打得头破血流。减少恶性竞争带来的损失的同时，也可以通过途牛和同程的上市获得收益。</p> <p> 　　此前，国内OTA格局为携程、同程、艺龙，三家代理商与去哪儿网平台之间的竞合。分析认为，在携程的连续投资之后，市场集中度更多的靠向携程、同程，艺龙显得孤立无援。</p> <p> 　　新京报记者赵嘉妮</p> <p> 　　■ 影响</p> <p> 　　“超低价”旅游产品难再现</p> <p> 　　携程连续投资竞争对手，除了有些一统江湖的意味之外，带来的另一个结果，即是价格战力度的减弱。这意味着，消费者今后可能很少看到“血拼到底”的旅游超低价产品了。</p> <p> 　　今年清明、五一节假日期间，门票市场的价格战打得就很给力。携程的口号是“做门票业务不求赚钱，而是将门票降价进行到底”。驴妈妈扬言以数亿元“死磕”携程，其直接甩出众多景区门票1折起、度假2折起的口号。</p> <p> 　　同程则联合不少景区进行“1元门票”活动，原价50元至100多元的各大景区在活动期间通过同程旅游预订都仅售1元，包括河南栾川老君山、重渡沟风景区等诸多景区，甚至还有原价超过100元的广东韶关丹霞山。</p> <p> 　　在跟团、出境游方面，携程与途牛也在特价线路、境外免费WIFI你争我夺。</p> <p> 　　化敌为友之后，价格战可能不再加码。业内认为，虽然消费者能够获得的超低价产品数量减少，但服务与体验会因为企业投入更多资源而改善。</p> <p> 　　劲旅咨询总经理魏长仁说，价格战减弱，行业内耗减少，对企业都是利好。艾瑞分析师王亭亭也表示，超低价是短暂的，没有企业会打十年价格战。当企业将更多的资源投入优化服务体验上，而不是降价恶性竞争的时候，对消费者、对市场都是更有益的。</p> <p> 　?。ㄕ约文荩?/p> <p> 　　■ 背景</p> <p> 　　在线旅游江湖的竞与合</p> <p> 　　今年4月份以来，在线旅游的各种“绯闻”一波接着一波。</p> <p> 　　4月初，业内传言，百度撮合去哪儿与携程的合并，将战略投资携程，换得在线旅游霸主地位。而后，携程、去哪儿CEO分别回应称，将掌握主导权，但都没有直接承认或否认合并传闻。</p> <p> 　　此后，携程在酒店业务和休闲游业务上的劲敌，艺龙与同程，很快于4月10日宣布战略合作。两家于16日在北京举行发布会，题目为“艺起同行”，彼此提供独家优势资源，被视为抱团抵御携程。随后，携程便与同程宣布投资合作。</p> <p> 　　时间追溯到去年4月。去哪儿网在酒店领域向大型OTA推广自己的在线交易系统（TTS系统），以期将所有交易环节移至其平台，并将点击付费广告涨价，遭到OTA们激烈反对。去年4月1日，艺龙、同程、芒果、腾邦国际等大型OTA集体下架了其在去哪儿网上的酒店产品。随后，同程率先恢复了去哪儿的产品，艺龙等也逐渐恢复合作。</p> <p> 　　去年10月，去哪儿网与艺龙因酒店库存分销协议发生分歧，并最终诉上法院，关系一度僵持。</p> <p> 　?。ㄕ约文荩?/p> </div> <p class="Editor">编辑：罗韦 </p> <div id="i2i2jyu4k" class="Paging"> </div> <p class="Keyword">关键词：携程途牛 </p> <h1 class="pv_title_2 mt_15"><a target="_blank" class="more mtb_14">更多</a><span id="i2i2jyu4k" class="t" id="a3"><a ><img src="http://www.rmzxb.com.cn/images/xg_t1.jpg" /></a></span></h1> <div id="i2i2jyu4k" class="pa_0_5_0_10"> <ul class="Related_ul bh_150"> </ul> </div> <div style="height:40px"></div>  <div id="i2i2jyu4k" class="advContent"><div style="height:40px"></div><script charset="gbk" src="http://p.tanx.com/ex?i=mm_58500226_6900940_24396084"></script></div>  <h1 class="pv_title_2 mt_55"><a target="_blank" class="more mtb_14">更多</a><span id="i2i2jyu4k" class="t" id="a4"><a ><img src="http://www.rmzxb.com.cn/images/sp_t2.jpg" 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