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Chinese travel bookings site Ctrip.com (CTRP -7.2%) dives on a downgrade to Hold from Mirae,...
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Monday, June 11, 2012, 11:26 AM ETChinese travel bookings site Ctrip.com (CTRP -7.2%) dives on a downgrade to Hold from Mirae, which thinks a decision by rival Qunar (majority-owned by BIDU) to sell hotel room inventory held by wholesalers online could pose a threat to Ctrip's business. Mirae adds weakening economic conditions are driving wholesalers to sell more of their inventory online, and that Ctrip will struggle to cope.
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