前有垄断立案，后有金融约谈，30天内。携程遭遇“双重监管”

Core Viewpoint - In 2026, Ctrip faces significant regulatory scrutiny, including antitrust investigations and financial misconduct allegations, highlighting the consequences of its long-standing market dominance and questionable business practices [1][2][13]. Regulatory Scrutiny - On January 14, 2026, the State Administration for Market Regulation announced an antitrust investigation into Ctrip for allegedly abusing its market dominance [11]. - On February 13, 2026, the Financial Regulatory Bureau, in conjunction with other regulatory bodies, conducted interviews with Ctrip and five other travel platforms regarding misleading advertising and inadequate consumer protection in their lending practices [3][4]. Consumer Complaints - Users have reported being unknowingly enrolled in Ctrip's financial products, such as "Naked Flower," during hotel bookings, leading to unexpected debts [5][6]. - Complaints on the Black Cat Complaint platform regarding Ctrip's financial services have exceeded 22,000, with issues primarily related to aggressive debt collection practices [9]. Business Model Critique - The current business model of Ctrip has been criticized for transforming users from "bookers" into "debtors," raising ethical concerns about its financial practices [4][10]. - The intertwining of travel services and financial products has led to a perception of exploitation rather than value creation, prompting calls for a return to service-oriented practices [10][14]. Market Position and Competition - Ctrip holds a dominant position in the online travel market, with an estimated market share of 57% in GMV for 2024, and when combined with its affiliated platform Tongcheng, it accounts for nearly 70% of the OTA market [12]. - The Yunnan Provincial Tourism Homestay Association has initiated actions against Ctrip for unfair competition practices, including "forced choice" and unilateral commission increases, which threaten the survival of smaller businesses [12].