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Trip.com shows amazing results in Q3

By Zhu Wenqian | chinadaily.com.cn | Updated: 2023-11-21 15:01

A view of the booth of Trip.com during an expo in Guangzhou, Guangdong province, earlier this year. CHEN YIHANG/FOR CHINA DAILY

Trip.com Group, China's leading online travel agency, reported strong results for the third quarter on Tuesday, as domestic and international travel businesses continued to show robust recovery.

For the third quarter of 2023, the company, which is dual listed on the Nasdaq and Hong Kong, reported net revenue of 13.7 billion yuan ($1.9 billion), surging 99 percent year-on-year, boosted by a substantial recovery of the travel market. During the same period, its net profit reached 4.6 billion yuan, which improved significantly from 245 million yuan for the same period in 2022.

In the third quarter, domestic hotel bookings grew by over 90 percent on a yearly basis and increased by over 70 percent compared with the pre-COVID level for the same period in 2019. Outbound hotel and flight tickets reservations recovered to around 80 percent of the pre-pandemic level in 2019, the company said.

"Throughout the third quarter of 2023, both domestic and international travel experienced a remarkable rebound, thanks to the robust summer travel demand. This shows just how eager travelers are to explore the world," said James Liang, executive chairman of Trip.com Group.

"Looking ahead, we will continue our efforts in expanding our global presence and cultivating AI-related initiatives, laying the foundation for continued growth of our company," Liang said.


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