eLong's (LONG -2.2%) Q3 results suggest Ctrip (CTRP -5%) is losing share in the Chinese online...

|By:, SA News Editor

eLong's (LONG -2.2%) Q3 results suggest Ctrip (CTRP -5%) is losing share in the Chinese online travel market, thinks Citi. While eLong posted 24% Y/Y revenue growth and 70% hotel bookings growth, Ctrip respectively posted growth rates of 40% and 11%. Ctrip rallied last week after beating Q3 estimates and providing decent Q4 guidance; shares have bounced over the last 3 months of the year after falling hard over the first 7.