In May, Priceline invested 250 million dollars in Ctrip's convertible bonds and suggested it may acquire more of the company's stake in the open market. Priceline now holds 15 percent of all of Ctrip's outstanding shares, according to Ctrip. China's online travel market continues to boom, with growing numbers of Chinese booking outbound travel online. Online travel booking is currently less than 20 percent, compared with 44 percent in the United States in 2014, according to research firm PhoCusWright. The investment will also see greater synergy between Priceline and Ctrip in opening their own hotel resources to each other and boosting Priceline's presence in China. Source: Cihan/Xinhua