Lynne Thornton, Director at Aubrey Capital Management Limited, says Ctrip.com International, Ltd. (ADR) is an online travel company in China that is ready to benefit from changes in travel in the country.
“The penetration rate for online travel in China is currently quite low; 90% of Chinese have never traveled outside their own province. As people get richer we expect this to change,” Thornton says.
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Thornton says Ctrip fits well into the behavioral change phase of her firm’s wealth cycle model, in that as people get richer, they aspire for more consumer goods and experiences.
“Travel in China is growing at about 1.5 times GDP,” Thornton says. “We are looking for these companies that are riding a tailwind and enjoying an acceleration in growth. And we can look globally. We see Ctrip as one of those really strong opportunities.”
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