Chinese travel bookings site Ctrip.com (CTRP -7.2%) dives on a downgrade to Hold from Mirae,...

|About: Ctrip.com International, Ltd. (CTRP)|By:, SA News Editor

Chinese 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.