Ctrip is easily the most recognized name in China’s fast-growing online travel industry, and despite the incongruity of its business model, it is hard to fault with the Nasdaq-listed company’s performance. Mr. Fan Min's - the company’s co-founder and chief executive officer - preferred gauge of success is a chart he showed with an 11-year build of cumulative customers, to 12.7 million by the end of March. “I think the curve is very sexy,” he said. Mr. Fan is eager for his customers to migrate online -– presumably so he wouldn’t have to pay to maintain so many phone operators, fish-loving or otherwise — and he noted with some relief that the percentage of bookings online has climbed to 40% even as Ctrip has added customers. In comments a year ago, Mr. Fan sounded slightly frustrated that percentage hadn’t yet crossed 35%. On its English site, 90% of Ctrip’s bookings are executed fully online. Get the full story at The Wall Street Journal (free content)