eLong, Inc. (LONG)
Q3 2010 Earnings Call Transcript
November 11, 2010 7:00 pm ET
Philip Yang – IR
Guangfu Cui – CEO
Mike Doyle – CFO
Eddie Leung – Bank of America
Fawne Jiang – Brean Murray, Carret & Co.
Michael Anthony [ph]
Thank you, sir. (Operator instructions) Our first question is coming from the line of Eddie Leung from Bank of America. Please go ahead.
Eddie Leung – Bank
Good morning, guys. I have a couple questions. The first one is regarding the deceleration in the fourth quarter, given your outlook. Could you talk about it and give us more color on how much the impact of the ending of Shanghai Expo and how much from the impact of you guys placing out the cash transactions?
Yes, sure. We can talk about our guidance. Both Expo and leisure growth has fueled our – leisure travelers fueled our growth over the last few quarters. And last quarter we did share in the call the impact of Expo and we will today as well. We believe that about 10 percentage points of our room night growth was directly attributable to the Expo. And so we have seen that portion of demand soften since the close of the event. The cash payment option on our air booking business represented anywhere from 10% to 50% of total volume depending on the branch location. And we have seen some adoption about our payment methods by our customers, but in general, much of that volume has gone away since we’ve eliminated the option.