Ctrip’s Latest Initiative: Insurance 携程新举动：保险
Online travel agent Ctrip’s (Nasdaq: CTRP) recent fondness for new initiatives seems to be going into overdrive, with the company’s latest move taking it into insurance. Chinese media are reporting Ctrip was recently approved by the insurance regulator to get into the insurance business (English article), and, while no details are given, I suspect it plans to offer travel insurance for buyers of its airline tickets, vacation packages and other trip-related services. Regular readers of this blog will know I’m a fan of Ctrip, which has a strong record of expanding into industries related to its core travel services business in a slow, carefully considered manner. This latest initiative, if it indeed is in the travel insurance business, would fit in with Ctrip’s previous growth strategy, and in that sense it looks like a good move. My major concern, however, is
that this move seems to reflect a recent acceleration of new initiatives by Ctrip, in sharp contrast to a much slower approach in the past. The company’s list of other recent initiatives is quickly growing, including hotel brand management (previous post), group buying (previous post) and restaurants (previous post), among others. The danger in moving into so many new areas so quickly is that the company will lack the resources to adequately develop any particular one of these initiatives, giving them a bigger chance of failure and potentially diverting top management’s attention away from Ctrip’s core hotel reservation, air ticket and vacation package business. Hopefully we’ll see a slowdown in these new initiatives soon, as Ctrip focuses on building up its new slate of offerings into real contributors to its top and bottom lines.
Bottom line: Ctrip’s move into the insurance business looks good on the surface, but the company would be well advised to slow down its accelerating addition of new service offerings.
在线旅游服务公司携程<CTRP.O>最近频频推出新动作，如今又要进军保险业。据中国媒体报导，携程最近获得中国保监会批准，得以进军保险业，虽然报导中没有透露更多情况，但我估计携程将为在该网购买机票、旅游项目等服务的客户提供旅游保险。经常读这个博客的人知道，我喜欢携程，这家公司谨慎、缓慢地向一些与其核心业务相关的领域进军，而这一次，如果携程果然是要进入旅游保险业务，那麽这与其以前的增长策略是相符的。我主要担心的是，这似乎反映出携程近期在加快脚步推出新动作，而这与其之前的稳妥风格有点大相径庭。携程最近的动作越来越多，例如酒店品牌管理计划，并购计划，以及餐饮服务计划。进入这麽多新领域的危险在於，这家公司可能缺少足够的资源来推进这麽多计划，来推进其中任何一个计划，因此失败的机率也就可能更高，可能会让高层顾不上关注携程的核心业务，如酒店预订、机票、旅游项目等。希望携程能放慢一些脚步，着重发展那些能带来利润和收入的核心业务。
一句话：携程进入保险业的举动表面上看起来不错，但公司还应该放慢扩张的脚步。
Related postings 相关文章:
◙ Ctrip Tries Its Hand at Brand Management 携程尝试品牌管理
◙ Ctrip Makes Smart Trip Into Group Buying 携程也推团购：不仅只是赶时髦
◙ Ctrip Finds Growth Recipe in Restaurants 携程：进军在线订餐
