Trip.comGroup Limited, a leading global travel service provider, announced its strong financial performance for Q2 2024. The company saw significant growth across its domestic and international segments. Accommodation bookings on its Chinese sites increased by 20% year-over-year, and outbound travel reached pre-COVID levels.
The company’s total revenue surged by 14% year-over-year to RMB12.8 billion (US$1.8 billion), with net income soaring to RMB3.9 billion (US$535 million), up from RMB648 million in the previous year.
Trip.com robust growth
Key drivers included a 20% rise in accommodation reservation revenue, a 42% increase in packaged-tour revenue, and an 8% boost in corporate travel revenue. However, transportation ticketing revenue only grew by 1%, reflecting price fluctuations despite higher ticket volumes.
The company continues to invest in AI and innovation to enhance its services. Sales and marketing expenses rose by 20% due to increased promotional activities. CEO Jane Sun and Executive Chairman James Liang expressed optimism about future growth and innovation in the travel industry.