”Ctrip continues to be a very important partner for The Priceline Group in China, and we look forward to continuing to build upon that partnership,” said Priceline Chief Executive Darren Huston. “We consider Ctrip a market leader in China and we’re investing in a company and a team that we believe fits well with our long-term view of China as a market and the Chinese people as global travelers.” Under the existing commercial partnership, Priceline’s Booking.com hotel-booking site advertises Ctrip’s inventory of hotels in China. Ctrip, meanwhile, is able to offer its users a wider array of deals from Priceline’s platforms, including Booking.com, Agoda.com for smaller hotels, OpenTable for restaurants and rentalcars.com. The companies on Tuesday said they would continue cross-promotion between brands. Last week, Expedia Inc. sold its 62.4% majority stake in Chinese mobile and online travel service eLong Inc. to a group of buyers that included Ctrip. Get the full story at Investor's Business Daily