Trip.com announces tie-up with TripAdvisor

China's largest online travel agency Trip.com Group, formerly known as Ctrip, announced on Thursday a strategic partnership with US travel and restaurant website company TripAdvisor to extend the footprints of both companies to more parts of the world.

Under this partnership, Ctrip Investment Holding Ltd, the subsidiary of Trip.com Group, has entered into a joint venture with TripAdvisor's subsidiary TripAdvisor Singapore Private Ltd. Trip.com will hold 60 percent of the new joint venture, providing cash and market expertise. TripAdvisor will take the remaining 40 percent, and be responsible for providing a longterm exclusive brand and content license and certain other assets to the joint venture.

Both companies have agreed to share inventories in travel categories at the joint venture level. TripAdvisor China will manage the joint venture's business on a global scale.