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ELong CEO Discusses Q4 2010 Results - Question & Answer Session Transcript

Stocks in this article: LONG

eLong, Inc. ( LONG)

Q4 2010 Earnings Call

February 17, 2011 7:00 PM ET

Executives

Mike Doyle – CFO

Guangfu Cui – CEO

Analysts

Ming Zhao – SIG

Fawne Jiang – Brean Murry, Carret & Co

Adam Krejcik – Roth Capital Partners

Question-and-Answer Session

Operator

Thank you, sir. (Operator Instructions) Our first question is coming from the line of Ming Zhao from SIG. Please go ahead.

Ming Zhao – SIG

Thank you very much. Good morning, Guangfu and Mike. I have two questions here. The first question is on the hotel mix shift towards more budget hotel. Do you think your fourth quarter mix is already at the balanced structure meaning percentage-wise the budget hotel in the whole mix is stabilized going forward or do we still see this percentage of budget hotel going up in 2011?

Mike Doyle

Hi Ming, this is Mike. It’s difficult to say exactly where the budget hotel mix will settle. We’ve seen an increase each quarter now on six quarters running. We have stabilized a bit versus last quarter and about 35% of our room nights in the budget segment and this is up considerably from Q4 ‘09. We think that as the China consumer purchases travel for the first time and is purchasing travel online for the first time. Budget hotels represents an attractive product to them and we feel there is a lot of growth still in that segment.

Ming Zhao – SIG

Yeah I guess the reason I asked the question is I see your room night growth in the fourth quarter was very good, almost 40% year-over-year, but the revenue is up by 25% which is partly because of this shift. So going forward would you say that this gap between your volume growth and revenue growth will be narrower and narrower?

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