The overseas online travel service company Priceline Group Inc. today announced that it will invest an additional US$250 million in Ctrip.com International, Ltd. , China’s leading online travel company. 

This investment follows a commercial relationship established between the two companies in 2012, which was expanded in August 2014 along with the US$500 million investment by The Priceline Group. Immediately following issuance of the new US$250 million bond and assuming conversion of the two bonds, The Priceline Group will own securities representing approximately 10.5% of Ctrip’s outstanding shares.

The two companies will continue their existing commercial partnership, whereby accommodations inventory is cross-promoted between the brands.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com