Trip.com reveals Q3-2024 results

Trip.com announced robust growth in its financial and operations results for the quarter ending 30th September 2024.

In its quarterly report, the Chinese travel platform showed a 20 percent increase in outbound hotel and flight reservations during the third quarter compared with the same period in 2019.

This improved performance was attributed to higher consumer confidence and equally heightened travel sentiment.

Trip.com chief executive Jane Sun remarked: “We are delighted to witness the resilience of the travel market. Through our hard work, we are proud to create new job opportunities for young people and bring new business volume to our partners in the travel industry.”

Robust growth in the third quarter

Trip.com’s executive chair James Liang pointed out that both domestic and international travel exhibited robust growth in the third quarter of the year.

The OTA recorded a 16 percent year-on-year increase in revenue to around US$2.3 billion, driven by stronger travel demand.

Liang said: “With increasing consumer confidence and heightened travel sentiment, we are optimistic about the continued growth of the travel industry. Additionally, we are confident that the AI-driven technological revolution will play a pivotal role in shaping the future of the global travel industry.”

The Q3-2024 results included accommodation reservation revenue of approximately US$969 million, up 22 percent over the same period in 2023, and a five percent increase in transportation revenue to about US$805 million. 

Packaged-tour revenue rose by 17 percent to about US$222 million.

Net income attributable to shareholders also grew by 48 percent to US$962 million.