eLong and Tongcheng Terminate Agreement
BEIJING, May 22, 2014
BEIJING, May 22, 2014 /PRNewswire/ -- eLong, Inc. (Nasdaq: LONG), a leading
mobile and online travel service provider in China, today announced that eLong
and Tongcheng Network Technology Share Co., Ltd. ("Tongcheng") have entered
into an agreement terminating their Strategic Cooperation Agreement.
In exchange for termination of the strategic cooperation agreement, Tongcheng
agreed to pay eLong RMB 30 million, and paid this amount on May 22, 2014.
eLong has agreed to provide hotel inventory, and to pay commission for hotel
bookings, through May 23, 2014. The parties have also agreed that any future
commercial cooperation will be negotiated at a later date.
eLong, Inc. (Nasdaq: LONG) is a leader in mobile and online hotel reservations
in China offering consumers a leading hotel network of domestic and
international properties worldwide. eLong uses innovative technology to enable
travelers to make informed hotel and air ticket booking decisions through its
convenient mobile applications, websites and easy to use tools such as
destination guides, photos, virtual tours, maps and user reviews. eLong's
largest shareholders are Expedia, Inc. (Nasdaq: EXPE) and Tencent Holdings
Ltd. (HKSE:0700). eLong operates websites including www.elong.com and
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SOURCE eLong, Inc.
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