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Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a premier global one-stop travel platform. Established in 1999, the company is headquartered in China and has a strong international presence. Trip.com Group is renowned for providing comprehensive travel services including accommodation reservations, transportation ticketing, packaged tours, and corporate travel management.
The company primarily targets frequent independent travelers in China, offering them a wealth of information on hotels, flights, and vacation packages to make informed and budget-friendly travel bookings. This business model has enabled Trip.com Group to capture the rapidly growing market of independent travelers in China, a traditionally under-served segment of the travel industry.
Trip.com Group generated approximately 78% of its 2020 revenue from accommodation reservations and transportation ticketing, with the remainder from package tours and corporate travel. The company also operates various brands such as Ctrip, Qunar, Trip.com, and Skyscanner under its portfolio. Before the pandemic in 2019, 25% of its revenue came from international business, which remains crucial for margin expansion.
Highlighting its recent performance, Trip.com Group reported a significant rebound in both domestic and international travel for the third quarter of 2023. The company achieved a net revenue of RMB13.7 billion (US$1.9 billion), marking a 99% increase from the previous year, driven by strong summer travel demand. Accommodation and transportation ticketing revenues surged, underscoring the recovery of the travel market.
Trip.com Group continues to focus on global expansion and AI-related initiatives, enhancing its supply chain capabilities and brand awareness. With robust financial health, the company had cash and equivalents worth RMB79.0 billion (US$10.8 billion) as of September 30, 2023. Strategic moves include capital return initiatives like share repurchases and cash dividends aimed at rewarding shareholders.
Recent developments include a substantial convertible senior notes offering of US$1.5 billion, intended for debt repayment, overseas expansion, and working capital needs. This strategic financial maneuver highlights the company's adaptive approach to growth and resilience in the dynamic global travel market.
Trip.com Group's continuous innovation and commitment to customer service solidify its status as a leading travel service provider in China and globally. The company's mission is to inspire travelers and enable cost-effective and enjoyable travel experiences.
naked Group Ltd. and Trip.com Group (NASDAQ: TCOM) have formed a new joint venture to enhance collaboration in the sustainable luxury sector, announced on Feb. 20, 2023. The partnership aims to expand the naked brand globally, focusing on high-end hospitality and promoting sustainable lifestyles. Both companies have invested in rural tourism to stimulate economic growth in China. naked Group will hold the majority stake in the venture, which emphasizes technology's role in delivering customized experiences and improving local economies.
WTTC and Trip.com Group released a report highlighting a surge in international travel, indicating a 109% increase in arrivals compared to 2021. With sustainability trending, 69% of travelers seek eco-friendly options. Notably, 86% plan to maintain or increase their travel spending compared to 2019, despite inflation concerns. The report also shows 31% intend to spend more on international travel in 2023. The Asia-Pacific region is expected to lead recovery, driven by Chinese consumers. Luxury travel is projected to grow, with hotel sales anticipated to reach
Trip.com Group (Nasdaq: TCOM) reported strong recovery in its Q3 2022 financial results, showing a net revenue increase of 29% year-over-year to RMB6.9 billion (US$969 million), and a staggering 72% growth quarter-over-quarter. Net income rose to RMB245 million (US$34 million), recovering from a loss of RMB868 million in Q3 2021. Adjusted EBITDA soared to RMB1.4 billion (US$198 million), a 164% year-over-year increase. Both domestic and international bookings exhibited significant growth, bolstered by easing travel restrictions and strong summer travel demand.
Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) will announce its financial results for the quarter ending September 30, 2022, on December 14, 2022, after market close. A conference call will follow at 7:00 PM U.S. Eastern Time to discuss these results. The call can be accessed live and later on their investor relations website. Established in 1999 and publicly traded since 2003, Trip.com is a prominent one-stop travel service provider in China and globally, offering a range of travel products and services.
Trip.com Group has launched a global promotional campaign with Tourism and Events Queensland, targeting travelers from Australia, New Zealand, the UK, Japan, South Korea, and Singapore. The campaign, titled 'A Beautiful Way to Be', runs for one month starting October 25, 2022, focusing on couples and families. Trip.com will provide localized content and hotel discounts for Queensland bookings. Recent data shows a 350% increase in searches for Queensland as a destination since January 2022, indicating strong recovery post-COVID.
Trip.com Group (TCOM) reported its unaudited financial results for Q2 2022, showing a net income of RMB43 million (US$6 million), a significant turnaround from a net loss of RMB1 billion in the previous quarter. Adjusted EBITDA rose to RMB355 million (US$53 million), up 290% quarter-over-quarter. However, net revenue decreased by 32% year-over-year to RMB4.0 billion (US$598 million). Despite ongoing COVID-19 disruptions, local hotel bookings surged over 30% versus 2019, fueling recovery. Executives expressed optimism for continued growth amid evolving travel demands.
Trip.com Group Limited (Nasdaq: TCOM) will announce its financial results for Q2 and the first half of 2022 on September 21, 2022, after market close. The management will hold a conference call at 8:00 PM U.S. Eastern Time on the same day, which will be available via live webcast and replay. Trip.com is recognized as a premier travel platform, offering a range of travel services and aiming to enhance travelers' experiences globally. Founded in 1999, it operates under various brands, including Ctrip and Skyscanner.
Trip.com Group Limited (Nasdaq: TCOM) announced board changes effective July 1, 2022. Dr. Dou Shen has resigned as a director, with Junjie He, a senior vice president at Baidu Inc. (Nasdaq: BIDU), appointed as his successor. Mr. He has a wealth of experience in investment and corporate management, having held multiple leadership roles at Baidu and various investment firms. Trip.com is a leading travel platform offering a range of services including accommodation reservations, transportation ticketing, and corporate travel management.
Trip.com Group (Nasdaq: TCOM) reported stable net revenue of RMB4.1 billion (US$649 million) for Q1 2022, flat year-over-year but down 12% from Q4 2021. Despite pandemic challenges in China, local hotel bookings rose over 20% year-over-year, and air-ticket bookings surged by 270% globally. Accommodation and corporate travel revenues decreased by 8% and 12%, respectively. The company showed resilience with a narrower operating loss of RMB359 million (US$55 million), down from RMB787 million a year ago, alongside a positive adjusted EBITDA of RMB91 million (US$16 million).
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