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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 launched the 'LIVE for Trip' campaign to support the global travel industry's recovery. The campaign was highlighted during the Global Partner Summit held on October 29, attended by over 2,600 industry representatives including tourism, accommodation, and transportation sectors. Chairman James Liang and CEO Jane Sun emphasized digital transformation and innovative marketing strategies for travel revival. Notably, Trip.com Group's livestreams generated USD 360 million in GMV by October 28, showcasing effective content-driven marketing strategies.
Trip.com Group has officially launched its air charter service in Macau from October 29 to 31, 2020, at the Macau Business Aviation Exhibition. This service aims to enhance air charter connections between domestic and international destinations. With over 3,000 aircraft available from more than 200 international operators, customers can easily browse options online. The initiative addresses customer complaints about offline services, offering transparency in pricing and improved service quality, which is anticipated to foster growth in the Macau market.
Trip.com Group celebrated its 21st anniversary with the 'LIVE for Trip' campaign, generating over USD 56 million in transaction volume during a marathon livestream event. Overall, the campaign has amassed USD 360 million in gross merchandise value (GMV) and attracted 150 million+ viewers since March 2020. Collaborating with over 100 hotel brands, the initiative offers customers USD 150 million in discounts, reflecting a robust recovery in domestic travel in China, with hotel bookings up 300% year-on-year during the October Golden Week.
Trip.com Group CEO Jane Sun has been recognized by Fortune as one of the "Most Powerful Women International" for 2020, marking her fourth consecutive year on the list. Sun has been influential in the travel industry, prioritizing customer safety and innovating marketing strategies during the COVID-19 pandemic. Under her leadership, Trip.com Group launched the "Travel On" initiative, investing hundreds of millions into the travel sector and promoting recovery as domestic markets show improvement.
Trip.com Group is launching the "LIVE for Trip" campaign from October 10 to November 11, 2020, aimed at accelerating the recovery of the travel industry coinciding with its 21st anniversary.
The campaign will feature daily livestreams showcasing over 2,500 travel products with discounts exceeding $150 million. Key events include a marathon livestream on October 28 in Chengdu and the Global Partner Summit on October 29.
This initiative is part of Trip.com Group's broader strategy to support the travel sector amidst COVID-19 challenges, offering innovative solutions and flexible booking options.
Trip.com Group Limited (Nasdaq: TCOM) reported Q2 2020 results with net revenue of RMB3.2 billion (US$448 million), a 64% decline year-over-year. Domestic hotel and flight reservations showed recovery, yet international segments continued to struggle. The operating loss was RMB688 million (US$97 million), with a gross margin of 72%. The company anticipates a net revenue drop of 47%-52% for Q3 2020 due to ongoing COVID-19 impacts. As of June 30, 2020, cash and equivalents totaled RMB64.3 billion (US$9.1 billion).
Trip.com Group Ltd. (Nasdaq: TCOM) will announce its Q2 2020 financial results on September 24, 2020, after market close. A conference call will follow at 8:00 PM ET that same day, available via live webcast. Participants must pre-register for the call. The call will also have a replay available until October 2, 2020. Trip.com Group, a leading travel service provider, offers various platforms for booking travel-related services and has grown to be one of the largest travel companies globally, founded in 1999 and listed on Nasdaq since 2003.
Trip.com Group reports signs of recovery in the travel industry, particularly in the Asia-Pacific region, as domestic travel and accommodation reservations approach pre-pandemic levels. Flight bookings are also steadily increasing. The company’s innovative “Trip.com LIVE” initiative has successfully generated around USD 3 million in sales through engaging livestreams for premium accommodations. With governmental collaborations in Italy and the UK, Trip.com anticipates a strong recovery in international tourism as pandemic restrictions ease.
Trip.com Group Limited (Nasdaq: TCOM) has priced $500 million in exchangeable senior notes due 2027. The notes were offered in offshore transactions and can be exchanged for cash or Huazhu Group ADSs, with an initial exchange price of $40.36 per Huazhu ADS, representing a 20% premium over the last sale price. The notes carry a 1.50% annual interest rate, payable semiannually, and mature on July 1, 2027. Proceeds will be used for general corporate purposes, including debt repayment. The offering is expected to close around July 20, 2020.
Trip.com Group Limited (Nasdaq: TCOM) announced its proposal to offer up to US$500 million in exchangeable senior notes due 2027 in offshore transactions. The exchangeable notes will allow holders to receive cash, American depositary shares (ADS) of Huazhu Group Limited (Nasdaq: HTHT), or a combination of both. The funds will be used for general corporate purposes, including repaying existing debts. The announcement emphasizes that the offering is subject to market conditions and that no assurance can be given regarding its completion.
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