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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.
Trip.com Group has signed a strategic global agreement with Wyndham Hotels & Resorts, enhancing collaboration in the travel industry. This partnership enables Trip.com users to access over 9,000 Wyndham hotels across 22 brands, significantly boosting their accommodation inventory. The agreement aims to strengthen marketing initiatives and optimize the booking experience, particularly for Chinese travelers. Wyndham's popular presence in Mainland China is underscored by record sales during Ctrip's 919 Super Brand Day campaign. Both companies anticipate this alliance will accelerate recovery in global travel.
Trip.com Group Limited (Nasdaq: TCOM) announced an annual general meeting (AGM) for shareholders on December 21, 2021, at 9:00 a.m. Hong Kong time. Shareholders of record as of November 16, 2021, are entitled to participate. The AGM will focus on approving the adoption of a dual foreign name and the amendment of the Company's articles of association. The notice of the meeting is available on the Company's website and SEC's site. Trip.com Group is a leading global travel service provider, operating under brands like Ctrip and Skyscanner.
On October 18, 2021, Trip.com Group Limited (Nasdaq: TCOM) announced a $1.5 billion transferable term loan facility agreement with several financial institutions. The facility has a 3-year tenor and aims to repay an existing $1.5 billion term loan from July 2019. Trip.com Group, a premier travel service provider, offers accommodations, transportation, packaged tours, and corporate travel management globally. This strategic move reflects the company's efforts to manage its financial obligations effectively.
Trip.com Group (TCOM) reported a strong recovery in its second quarter of 2021, with net revenue reaching RMB5.9 billion (US$912 million), an 86% increase year-over-year and a 43% rise quarter-over-quarter. Key drivers included a 150% growth in domestic hotel and air-ticket GMV. Corporate travel revenue grew 141% year-over-year. However, the company faced a net loss of RMB647 million (US$100 million), compared to a loss of RMB476 million a year earlier. Gross margin improved to 79%. As of June 30, 2021, the company held RMB75.4 billion (US$11.7 billion) in cash and equivalents.
Trip.com Group Ltd. (Nasdaq: TCOM) will report its financial results for Q2 and H1 of 2021 on September 23, 2021, after market closure. The management will host a conference call at 8:00 PM U.S. Eastern Time the same day, with a live webcast available on their investor relations site. Participants must pre-register to join and will receive access details. A telephone replay will be available until October 1, 2021. Established in 1999, Trip.com Group is a leading global travel platform, providing various travel services.
On June 1, 2021, Trip.com Group and Tripadvisor announced an expansion of their strategic partnership, initially established in November 2019. This new collaboration includes a commercial arrangement to support Tripadvisor Plus, offering preferential pricing on over 10,000 properties for subscribers. Trip.com has received approval to sell a portion of its 6.95 million shares in Tripadvisor, relinquishing its right to nominate a director on Tripadvisor's board. Despite this, CEO Jane Sun will maintain her board position, indicating a commitment to continued collaboration.
Trip.com Group reported its Q1 2021 financial results, showing a resilient recovery in the China domestic market. Net revenue was RMB4.1 billion (US$628 million), down 13% year-over-year. Accommodation revenue surged 37% to RMB1.6 billion (US$241 million), while corporate travel management revenue soared 101% year-over-year. Net income attributable to shareholders reached RMB1.8 billion (US$273 million), contrasting with a net loss of RMB5.4 billion in the previous year. The company noted a strong recovery in domestic travel, particularly in March and April 2021, despite travel restrictions affecting early 2021.
Trip.com Group Ltd. (Nasdaq: TCOM) will announce its first quarter 2021 financial results on May 18, 2021, after market close. The management team will host a conference call at 8:00 PM EST on the same day for discussion and insights, which will also be available via Webcast. Participants must pre-register to join the call, and a replay will be accessible until May 26, 2021. As a leading global travel platform, Trip.com offers a comprehensive suite of travel services and products, catering to travelers' needs worldwide.
Trip.com Group successfully listed on the Hong Kong Stock Exchange on April 19, 2021, under stock code 9961.HK, in addition to its existing NASDAQ listing (TCOM). This dual listing makes it the first global travel group to achieve this. The company celebrates its growth from 784 users in 1999 to hundreds of millions today. CEO Jane Sun stated this move enhances their global presence. The funds raised will support their expansion and technology improvements, while the firm continues initiatives to aid travel recovery post-pandemic.
On April 13, 2021, Trip.com Group Limited (Nasdaq: TCOM) announced the pricing of its Global Offering, consisting of 31,635,600 new ordinary shares at HK$268.00 each. This translates to approximately US$34.57 per American depositary share (ADS). The offering aims to raise around HK$8.33 billion, subject to approval from the Hong Kong Stock Exchange, where trading is expected to begin on April 19, 2021. Proceeds will enhance Trip.com's travel services and technology. The offering includes an over-allotment option for 4,745,300 additional shares.
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