Qunar.com total revenues for the second quarter of 2014 were RMB400.4 million (US$64.5 million), an increase of 127.3% year-on-year, the highest revenue growth rate in ten quarters.
Qunar has built strength on mobile. Qunar Travel apps downloads had reached 105.716 million times by this May being the first travel app exceeding 100 million downloads according to Jinlv Consulting, a research and consultancy firm for travel industry. Its mobile revenues for Q2 were RMB142.3 million (US$22.9 million), an increase of 511.8% year-on-year, representing 35.5% of total revenues, compared to 13.2% in the corresponding period of 2013.
Total Estimated Flight Ticket volume (TEFT) and Total Estimated Hotel Room-night volume (TEHR) for the second quarter of 2014 were 19.1 million and 7.3 million, respectively, an increase of 66.1% and 105.2% year-on-year.
We witnessed another strong quarter of accelerating revenue growth and impressive volume growth across our business units, driven by market share gains and pricing leverage. Returns on our investments have been coming in earlier and quicker than we had expected,
said Chenchao (CC) Zhuang, chief executive officer and co-founder of Qunar.
Flight revenue per ticket grew 46% year-on-year, a testament to our growing market position and to the superior value proposition Qunar brings to travel service providers.
We remain focused on providing consumers with the most comprehensive product offerings and best deals in the industry,
Mr. Zhuang added.
In the second quarter alone, we signed over 72,000 hotels, taking our direct sales network to over 165,000 hotels. We also consolidated our position as the platform of choice for mobile users. Tour package GMV maintained its rapid momentum, expanding by more than five times year-on-year.
We are pleased to see our investments in technology and product sourcing continue to drive strong growth right across the business,
said Sam Sun, chief financial officer of Qunar.
However, Qunar sees loss in the second quarter. Net loss attributable to Qunar’s shareholders for the second quarter of 2014 was RMB421.6 million (US$68.0 million), compared to RMB41.2 million in the corresponding period of 2013 and RMB183.6 million in the first quarter of 2014.
For the third quarter of 2014, the Company expects year-on-year revenue growth in the range of 90% to 95%. This forecast reflects Qunar’s current and preliminary view, which is subject to change.
Get an overview of China’s online travel market here.