Expedia Sells eLong Stake

BELLEVUE, WA—Expedia, Inc. has sold its 62.4% majority stake in eLong, Inc. to several purchasers based in China, including Ctrip.com International, Ltd., Keystone Lodging Holdings Limited, Plateno Group Limited and Luxuriant Holdings Limited for a total purchase price of approximately $671 million.

In addition, Expedia and Ctrip have agreed to cooperate with each other to allow their respective customers to benefit from certain travel product offerings for specified geographic markets, according to the company.

The transaction closed on May 22.