Trip.com Group (TCOM) has reported a significant increase in revenue and a strong recovery in travel demand during its Q1 2024 earnings call. The company announced a net revenue of RMB 11.
9 billion, marking a 29% uptick from the previous year. Growth was seen across all business segments, with a notable rebound in outbound travel reaching pre-pandemic levels. Adjusted EBITDA stood at RMB 4 billion, reflecting a healthy margin of 33%.
Trip.com's CEO, Jane Sun, emphasized the company's competitive advantages and the potential for margin expansion despite the costs associated with international growth. Key Takeaways Trip.
com's Q1 2024 net revenue hit RMB 11.9 billion, a 29% increase year-over-year. Outbound hotel and air ticket bookings have fully recovered to 2019 levels.
Revenue from accommodation reservation and transportation ticketing grew by 29% and 20% respectively. Packaged tours revenue saw a significant increase of 129%, largely driven by outbound travel. Corporate travel revenue grew by 15%.
The APAC region experienced an 80% year-over-year revenue growth. Inbound travel to China is growing, contributing over 20% to overall revenues. Over 70% of Trip.
com's revenue comes from Asian markets, with mobile hotel bookings accounting for more than 35% of total revenues. The company is focusing on expanding its user base, particularly targeting the silver generation and young travelers. Company Outlook Trip.
com expects a healthy margin in the longer term for its Trip.com busi.